Akero Therapeutics (NASDAQ:AKRO) Releases Earnings Results, Beats Estimates By $0.09 EPS

Akero Therapeutics (NASDAQ:AKRO) posted its earnings results on Friday. The company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.09, Zacks reports.

Akero Therapeutics Price Performance

NASDAQ AKRO traded down $0.55 during trading hours on Monday, reaching $24.19. The company’s stock had a trading volume of 382,514 shares, compared to its average volume of 1,016,723. Akero Therapeutics has a 1 year low of $11.25 and a 1 year high of $53.77. The company has a quick ratio of 30.12, a current ratio of 30.12 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -7.73 and a beta of -0.28. The firm’s 50-day moving average price is $24.22 and its 200-day moving average price is $23.22.

Insider Buying and Selling at Akero Therapeutics

In related news, COO Jonathan Young sold 2,516 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $22.64, for a total transaction of $56,962.24. Following the completion of the transaction, the chief operating officer now directly owns 250,790 shares of the company’s stock, valued at $5,677,885.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Akero Therapeutics news, CFO William Richard White sold 139,083 shares of Akero Therapeutics stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $26.98, for a total value of $3,752,459.34. Following the sale, the chief financial officer now owns 41,791 shares of the company’s stock, valued at approximately $1,127,521.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jonathan Young sold 2,516 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $22.64, for a total value of $56,962.24. Following the sale, the chief operating officer now directly owns 250,790 shares in the company, valued at $5,677,885.60. The disclosure for this sale can be found here. Insiders sold a total of 205,529 shares of company stock valued at $5,452,376 in the last three months. 7.94% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on AKRO. Cantor Fitzgerald reiterated an “overweight” rating on shares of Akero Therapeutics in a research report on Thursday, June 20th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Akero Therapeutics in a research report on Monday. Bank of America began coverage on Akero Therapeutics in a research note on Monday, April 22nd. They set a “neutral” rating and a $30.00 price objective for the company. Evercore ISI decreased their target price on shares of Akero Therapeutics from $50.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 15th. Finally, Wolfe Research began coverage on shares of Akero Therapeutics in a research report on Tuesday, June 11th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.13.

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.