Akero Therapeutics (NASDAQ:AKRO) Given New $96.00 Price Target at Morgan Stanley

Akero Therapeutics (NASDAQ:AKRO) had its price objective increased by Morgan Stanley from $46.00 to $96.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued research reports about the stock. HC Wainwright increased their price objective on shares of Akero Therapeutics from $50.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday. Canaccord Genuity Group increased their price objective on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Citigroup increased their price objective on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.57.

Akero Therapeutics Trading Down 0.5 %

Shares of Akero Therapeutics stock opened at $51.47 on Tuesday. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. Akero Therapeutics has a 12-month low of $15.32 and a 12-month high of $58.40. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of -13.73 and a beta of -0.19. The firm’s 50 day simple moving average is $28.90 and its two-hundred day simple moving average is $28.33.

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

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, VP Patrick Lamy sold 925 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $30.79, for a total transaction of $28,480.75. Following the transaction, the vice president now directly owns 17,858 shares of the company’s stock, valued at $549,847.82. This trade represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jonathan Young sold 50,716 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $31.57, for a total transaction of $1,601,104.12. Following the transaction, the chief operating officer now directly owns 216,286 shares in the company, valued at approximately $6,828,149.02. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 257,620 shares of company stock valued at $8,076,127 over the last ninety days. Corporate insiders own 7.94% of the company’s stock.

Institutional Investors Weigh In On Akero Therapeutics

A number of hedge funds have recently modified their holdings of AKRO. American Century Companies Inc. acquired a new stake in shares of Akero Therapeutics in the second quarter valued at about $347,000. Renaissance Technologies LLC acquired a new stake in shares of Akero Therapeutics in the second quarter valued at about $565,000. The Manufacturers Life Insurance Company raised its position in shares of Akero Therapeutics by 26.1% in the second quarter. The Manufacturers Life Insurance Company now owns 107,172 shares of the company’s stock valued at $2,514,000 after buying an additional 22,195 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of Akero Therapeutics by 12.4% in the third quarter. Handelsbanken Fonder AB now owns 20,000 shares of the company’s stock valued at $574,000 after buying an additional 2,200 shares during the last quarter. Finally, Creative Planning acquired a new stake in shares of Akero Therapeutics in the third quarter valued at about $371,000.

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.