Akero Therapeutics (NASDAQ:AKRO) Given New $80.00 Price Target at Citigroup

Akero Therapeutics (NASDAQ:AKRO) had its price objective increased by equities researchers at Citigroup from $65.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 55.74% from the stock’s current price.

Separately, HC Wainwright upped their price objective on Akero Therapeutics from $50.00 to $72.00 and gave the company a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Akero Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $55.83.

Akero Therapeutics Trading Up 96.2 %

AKRO opened at $51.37 on Tuesday. The stock has a market cap of $3.59 billion, a PE ratio of -13.70 and a beta of -0.19. The business has a 50 day moving average of $28.47 and a 200-day moving average of $28.14. Akero Therapeutics has a 52 week low of $15.32 and a 52 week high of $58.40. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05.

Akero Therapeutics (NASDAQ:AKRO) last issued its quarterly earnings results on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). Equities research analysts predict that Akero Therapeutics will post -3.96 earnings per share for the current fiscal year.

Insider Transactions at Akero Therapeutics

In related news, CEO Andrew Cheng sold 108,366 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $31.73, for a total transaction of $3,438,453.18. Following the completion of the transaction, the chief executive officer now owns 605,417 shares of the company’s stock, valued at $19,209,881.41. This trade represents a 15.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jonathan Young sold 10,000 shares of Akero Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $28.03, for a total value of $280,300.00. Following the transaction, the chief operating officer now owns 218,083 shares of the company’s stock, valued at $6,112,866.49. The trade was a 4.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 262,135 shares of company stock worth $8,223,000 in the last three months. Insiders own 7.94% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. abrdn plc grew its holdings in shares of Akero Therapeutics by 118.7% during the 4th quarter. abrdn plc now owns 269,782 shares of the company’s stock worth $7,505,000 after purchasing an additional 146,424 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Akero Therapeutics by 10.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company’s stock valued at $412,000 after acquiring an additional 1,446 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Akero Therapeutics by 4,022.1% in the 4th quarter. SG Americas Securities LLC now owns 597,993 shares of the company’s stock worth $16,636,000 after acquiring an additional 583,486 shares during the last quarter. Exome Asset Management LLC purchased a new position in shares of Akero Therapeutics during the 3rd quarter worth approximately $2,212,000. Finally, Barclays PLC increased its holdings in Akero Therapeutics by 127.9% in the 3rd quarter. Barclays PLC now owns 127,668 shares of the company’s stock valued at $3,662,000 after purchasing an additional 71,652 shares during the last quarter.

About Akero Therapeutics

Akero Therapeutics, Inc, together with its subsidiary, engages in the development of treatments for patients with serious metabolic diseases in the United States. The company's lead product candidate is efruxifermin (EFX), which is in Phase 3 clinical trials that protects against cellular stress and regulates the metabolism of lipids, carbohydrates, and proteins throughout the body for the treatment of biopsy-confirmed metabolic dysfunction-associated steatohepatitis (MASH) patients.