Akero Therapeutics (NASDAQ:AKRO) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Akero Therapeutics (NASDAQ:AKRO) had its target price upped by research analysts at Morgan Stanley from $46.00 to $96.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 84.44% from the company’s current price.

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

Akero Therapeutics Stock Performance

AKRO traded up $0.34 on Tuesday, hitting $52.05. The company had a trading volume of 2,576,759 shares, compared to its average volume of 1,919,869. Akero Therapeutics has a 1-year low of $15.32 and a 1-year high of $58.40. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of -13.89 and a beta of -0.19. The company’s fifty day moving average price is $28.90 and its 200 day moving average price is $28.33. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25.

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 analysts predict that Akero Therapeutics will post -3.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Patrick Lamy sold 925 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total transaction of $28,480.75. Following the transaction, the vice president now owns 17,858 shares of the company’s stock, valued at $549,847.82. This represents a 4.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Catriona Yale sold 15,485 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $32.62, for a total value of $505,120.70. Following the sale, the insider now directly owns 74,158 shares of the company’s stock, valued at $2,419,033.96. This represents a 17.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 262,135 shares of company stock valued at $8,223,000. 7.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Akero Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Akero Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock valued at $71,000 after buying an additional 446 shares during the last quarter. Eastern Bank acquired a new position in shares of Akero Therapeutics during the 3rd quarter worth about $100,000. Summit Financial Wealth Advisors LLC acquired a new position in shares of Akero Therapeutics during the 3rd quarter worth about $205,000. Victory Capital Management Inc. bought a new stake in shares of Akero Therapeutics during the 3rd quarter worth about $211,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Akero Therapeutics during the 3rd quarter worth about $265,000.

Akero Therapeutics Company Profile

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.