Akero Therapeutics (NASDAQ:AKRO) Issues Earnings Results, Beats Expectations By $0.09 EPS

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

Akero Therapeutics Stock Down 2.2 %

Shares of Akero Therapeutics stock traded down $0.55 during trading on Monday, hitting $24.19. The company’s stock had a trading volume of 382,514 shares, compared to its average volume of 1,016,723. The company has a debt-to-equity ratio of 0.04, a quick ratio of 30.12 and a current ratio of 30.12. The company has a fifty day simple moving average of $24.22 and a two-hundred day simple moving average of $23.22. Akero Therapeutics has a 52 week low of $11.25 and a 52 week high of $53.77. The company has a market capitalization of $1.67 billion, a PE ratio of -7.73 and a beta of -0.28.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, CFO William Richard White sold 139,083 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $26.98, for a total transaction of $3,752,459.34. Following the transaction, the chief financial officer now owns 41,791 shares in the company, valued at approximately $1,127,521.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Akero Therapeutics news, CFO William Richard White sold 139,083 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $26.98, for a total transaction of $3,752,459.34. Following the completion of the sale, the chief financial officer now directly owns 41,791 shares in the company, valued at approximately $1,127,521.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Catriona Yale sold 2,825 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $22.64, for a total value of $63,958.00. Following the completion of the transaction, the insider now owns 74,867 shares in the company, valued at $1,694,988.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 205,529 shares of company stock worth $5,452,376. 7.94% of the stock is owned by corporate insiders.

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.