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

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

Akero Therapeutics Stock Down 2.2 %

Shares of NASDAQ:AKRO traded down $0.55 during midday trading on Monday, reaching $24.19. The company had a trading volume of 382,514 shares, 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 stock has a market cap of $1.67 billion, a PE ratio of -7.73 and a beta of -0.28. The company has a quick ratio of 30.12, a current ratio of 30.12 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average price is $24.22 and its 200 day moving average price is $23.22.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AKRO. Wolfe Research initiated coverage on shares of Akero Therapeutics in a research note on Tuesday, June 11th. They issued an “outperform” rating for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Akero Therapeutics in a report on Thursday, June 20th. Evercore ISI decreased their target price on Akero Therapeutics from $50.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. Bank of America initiated coverage on Akero Therapeutics in a report on Monday, April 22nd. They issued a “neutral” rating and a $30.00 price target for the company. Finally, Canaccord Genuity Group lowered their price objective on shares of Akero Therapeutics from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, May 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Akero Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $41.13.

Insiders Place Their Bets

In related news, CFO William Richard White sold 2,831 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $22.64, for a total value of $64,093.84. Following the sale, the chief financial officer now owns 46,799 shares in the company, valued at approximately $1,059,529.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Akero Therapeutics news, COO Jonathan Young sold 5,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $19.29, for a total value of $96,450.00. Following the transaction, the chief operating officer now directly owns 253,306 shares of the company’s stock, valued at approximately $4,886,272.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO William Richard White sold 2,831 shares of Akero Therapeutics stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $22.64, for a total value of $64,093.84. Following the sale, the chief financial officer now directly owns 46,799 shares of the company’s stock, valued at approximately $1,059,529.36. The disclosure for this sale can be found here. Over the last three months, 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.

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.