Akero Therapeutics (NASDAQ:AKRO) Releases Earnings Results

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

Akero Therapeutics Price Performance

Shares of NASDAQ AKRO traded down $0.55 during trading hours on Monday, hitting $24.19. 382,514 shares of the stock were exchanged, 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 market cap of $1.67 billion, a PE ratio of -7.73 and a beta of -0.28. 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’s fifty day simple moving average is $24.22 and its two-hundred day simple moving average is $23.22.

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, COO Jonathan Young sold 5,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $19.29, for a total transaction of $96,450.00. Following the completion of the transaction, the chief operating officer now owns 253,306 shares of the company’s stock, valued at $4,886,272.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 stock was sold at an average price of $26.98, for a total value of $3,752,459.34. Following the completion of the transaction, the chief financial officer now owns 41,791 shares of the company’s stock, valued at approximately $1,127,521.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Jonathan Young sold 5,000 shares of Akero Therapeutics stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $19.29, for a total value of $96,450.00. Following the sale, the chief operating officer now directly owns 253,306 shares in the company, valued at $4,886,272.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 205,529 shares of company stock valued at $5,452,376. 7.94% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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