Akero Therapeutics (NASDAQ:AKRO) Stock Price Up 7.3% – Still a Buy?

Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) shot up 7.3% on Wednesday . The stock traded as high as $41.72 and last traded at $41.48. 1,160,908 shares changed hands during mid-day trading, an increase of 40% from the average session volume of 827,595 shares. The stock had previously closed at $38.64.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. HC Wainwright increased their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Bank of America raised shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the company from $35.00 to $63.00 in a research report on Thursday, January 30th. Canaccord Genuity Group boosted their price objective on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Morgan Stanley reaffirmed an “overweight” rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Finally, UBS Group boosted their price target on Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $76.29.

Akero Therapeutics Price Performance

The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average price is $47.19 and its two-hundred day moving average price is $35.41. The stock has a market cap of $2.92 billion, a P/E ratio of -9.79 and a beta of -0.18.

Akero Therapeutics (NASDAQ:AKRO) last posted its quarterly earnings data on Friday, February 28th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.01). As a group, sell-side analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Timothy Rolph sold 31,250 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $55.77, for a total value of $1,742,812.50. Following the sale, the insider now owns 170,237 shares in the company, valued at $9,494,117.49. This represents a 15.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director G. Walmsley Graham bought 50,000 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was bought at an average cost of $43.55 per share, for a total transaction of $2,177,500.00. Following the completion of the acquisition, the director now directly owns 1,200,000 shares of the company’s stock, valued at approximately $52,260,000. This represents a 4.35 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 341,309 shares of company stock worth $15,863,578 and have sold 242,135 shares worth $12,064,779. Company insiders own 7.94% of the company’s stock.

Institutional Investors Weigh In On Akero Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. bought a new stake in shares of Akero Therapeutics in the fourth quarter worth $41,000. Sterling Capital Management LLC boosted its position in Akero Therapeutics by 764.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company’s stock worth $50,000 after purchasing an additional 1,582 shares during the last quarter. Quarry LP bought a new stake in shares of Akero Therapeutics during the 4th quarter valued at about $83,000. Summit Investment Advisors Inc. increased its position in shares of Akero Therapeutics by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company’s stock valued at $197,000 after purchasing an additional 450 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Akero Therapeutics by 8.5% in the 4th quarter. Hsbc Holdings PLC now owns 7,886 shares of the company’s stock worth $220,000 after purchasing an additional 621 shares during the period.

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.