Akero Therapeutics (NASDAQ:AKRO) Issues Quarterly Earnings Results, Beats Estimates By $1.91 EPS

Akero Therapeutics (NASDAQ:AKRO) posted its quarterly earnings results on Monday. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of ($1.01) by $1.91, Zacks reports.

Akero Therapeutics Price Performance

Shares of NASDAQ:AKRO traded down $1.52 on Tuesday, reaching $40.01. 979,777 shares of the company were exchanged, compared to its average volume of 897,037. 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 $17.86 and a 1-year high of $58.40. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of -10.67 and a beta of -0.12. The company has a 50-day moving average of $41.14 and a 200-day moving average of $37.64.

Insider Activity at Akero Therapeutics

In related news, insider Catriona Yale sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $49.87, for a total value of $498,700.00. Following the transaction, the insider now owns 95,648 shares in the company, valued at approximately $4,769,965.76. This trade represents a 9.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jonathan Young sold 607 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $44.88, for a total transaction of $27,242.16. Following the completion of the transaction, the chief operating officer now owns 200,540 shares in the company, valued at $9,000,235.20. The trade was a 0.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,208 shares of company stock valued at $7,974,594. Insiders own 7.94% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AKRO. Morgan Stanley restated an “overweight” rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Canaccord Genuity Group lifted their price objective on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. UBS Group upped their price target on shares of Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a report on Friday, January 31st. Bank of America raised shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and increased their target price for the company from $35.00 to $63.00 in a research report on Thursday, January 30th. Finally, Citigroup cut their price target on shares of Akero Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Tuesday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Akero Therapeutics currently has a consensus rating of “Buy” and an average target price of $76.00.

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.