UBS Group Issues Positive Forecast for Akero Therapeutics (NASDAQ:AKRO) Stock Price

Akero Therapeutics (NASDAQ:AKRO) had its target price lifted by UBS Group from $42.00 to $109.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 103.28% from the company’s previous close.

Several other research analysts have also issued reports on AKRO. Citigroup raised their price target on Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday. Bank of America upgraded Akero Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $35.00 to $63.00 in a research report on Thursday. HC Wainwright raised their price target on Akero Therapeutics from $50.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley lifted their price target on Akero Therapeutics from $46.00 to $96.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Canaccord Genuity Group lifted their price target on Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $75.86.

Akero Therapeutics Price Performance

NASDAQ AKRO traded down $1.74 on Friday, hitting $53.62. 717,046 shares of the company were exchanged, compared to its average volume of 2,105,265. 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 1-year low of $15.32 and a 1-year high of $58.40. The company has a market cap of $3.74 billion, a P/E ratio of -14.24 and a beta of -0.19. The firm has a 50 day moving average of $30.26 and a two-hundred day moving average of $28.88.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.15). On average, equities analysts predict that Akero Therapeutics will post -3.99 EPS for the current year.

Insider Activity at Akero Therapeutics

In other news, CEO Andrew Cheng sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $54.90, for a total transaction of $1,647,000.00. Following the completion of the sale, the chief executive officer now owns 716,062 shares in the company, valued at $39,311,803.80. The trade was a 4.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO William Richard White sold 2,817 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total value of $86,735.43. Following the sale, the chief financial officer now owns 38,335 shares of the company’s stock, valued at approximately $1,180,334.65. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 149,303 shares of company stock valued at $6,206,412. 7.94% of the stock is owned by insiders.

Institutional Investors Weigh In On Akero Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of Akero Therapeutics by 54.4% during the third quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company’s stock worth $226,554,000 after buying an additional 2,782,029 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Akero Therapeutics during the third quarter worth $37,392,000. SG Americas Securities LLC increased its holdings in shares of Akero Therapeutics by 4,022.1% during the fourth quarter. SG Americas Securities LLC now owns 597,993 shares of the company’s stock worth $16,636,000 after buying an additional 583,486 shares in the last quarter. RTW Investments LP increased its holdings in shares of Akero Therapeutics by 9.0% during the third quarter. RTW Investments LP now owns 5,919,435 shares of the company’s stock worth $169,829,000 after buying an additional 487,450 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Akero Therapeutics by 2.9% during the third quarter. Janus Henderson Group PLC now owns 7,077,478 shares of the company’s stock worth $203,053,000 after buying an additional 201,225 shares in the last quarter.

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.