Akero Therapeutics (NASDAQ:AKRO) Posts Earnings Results, Beats Estimates By $1.90 EPS

Akero Therapeutics (NASDAQ:AKRO) posted its quarterly earnings data on Monday. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $1.90, Zacks reports.

Akero Therapeutics Stock Down 6.0%

Shares of Akero Therapeutics stock opened at $39.85 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The company has a 50-day moving average of $41.21 and a 200 day moving average of $37.56. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -10.63 and a beta of -0.12. Akero Therapeutics has a 1 year low of $17.86 and a 1 year high of $58.40.

Analyst Ratings Changes

Several research firms have recently issued reports on AKRO. HC Wainwright boosted their price target on shares of Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Citigroup upped their price objective on shares of Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. 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. Finally, UBS Group increased their price target on shares of Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $76.29.

Insider Buying and Selling at Akero Therapeutics

In related news, Director G. Walmsley Graham purchased 91,309 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were purchased at an average price of $44.75 per share, with a total value of $4,086,077.75. Following the acquisition, the director now directly owns 1,091,309 shares in the company, valued at $48,836,077.75. The trade was a 9.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Patrick Lamy sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $48.09, for a total transaction of $48,090.00. Following the sale, the vice president now owns 33,492 shares of the company’s stock, valued at $1,610,630.28. This trade represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,208 shares of company stock worth $7,974,594. 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.