HC Wainwright Brokers Raise Earnings Estimates for Akero Therapeutics, Inc. (NASDAQ:AKRO)

Posted by Defense World Staff on May 19th, 2023

Akero Therapeutics, Inc. (NASDAQ:AKRO – Get Rating) – Research analysts at HC Wainwright raised their Q2 2023 EPS estimates for shares of Akero Therapeutics in a research note issued to investors on Tuesday, May 16th. HC Wainwright analyst E. Arce now anticipates that the company will post earnings per share of ($0.60) for the quarter, up from their prior estimate of ($0.71). The consensus estimate for Akero Therapeutics’ current full-year earnings is ($2.97) per share. HC Wainwright also issued estimates for Akero Therapeutics’ Q3 2023 earnings at ($0.68) EPS, Q4 2023 earnings at ($0.87) EPS, FY2023 earnings at ($2.57) EPS, FY2024 earnings at ($2.57) EPS, FY2025 earnings at ($2.76) EPS, FY2026 earnings at ($2.13) EPS and FY2027 earnings at ($0.30) EPS.

Several other analysts also recently commented on the company. Lifesci Capital reiterated an “outperform” rating on shares of Akero Therapeutics in a research note on Tuesday, April 11th. Morgan Stanley upgraded Akero Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $40.00 to $65.00 in a report on Friday, January 27th. Finally, Canaccord Genuity Group upped their target price on shares of Akero Therapeutics from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, March 21st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $52.00.

Akero Therapeutics Trading Down 1.5 %

NASDAQ:AKRO opened at $45.60 on Thursday. Akero Therapeutics has a 52 week low of $7.52 and a 52 week high of $54.88. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -16.70 and a beta of -0.94. The company’s 50 day moving average price is $41.67 and its 200-day moving average price is $44.19. The company has a quick ratio of 18.61, a current ratio of 20.83 and a debt-to-equity ratio of 0.08.

Insiders Place Their Bets

In other news, CEO Andrew Cheng sold 25,000 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $37.94, for a total value of $948,500.00. Following the transaction, the chief executive officer now owns 369,293 shares in the company, valued at approximately $14,010,976.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 75,000 shares of company stock valued at $3,241,500. Insiders own 10.38% of the company’s stock.

Hedge Funds Weigh In On Akero Therapeutics

A number of institutional investors have recently bought and sold shares of AKRO. Point72 Hong Kong Ltd purchased a new stake in Akero Therapeutics in the first quarter worth about $32,000. Allspring Global Investments Holdings LLC purchased a new stake in Akero Therapeutics in the 3rd quarter worth approximately $53,000. Signaturefd LLC increased its holdings in Akero Therapeutics by 186.5% in the 3rd quarter. Signaturefd LLC now owns 2,051 shares of the company’s stock worth $70,000 after acquiring an additional 1,335 shares in the last quarter. Royal Bank of Canada raised its stake in Akero Therapeutics by 9.9% during the 3rd quarter. Royal Bank of Canada now owns 2,605 shares of the company’s stock worth $89,000 after acquiring an additional 235 shares during the period. Finally, Belpointe Asset Management LLC purchased a new position in Akero Therapeutics during the fourth quarter valued at approximately $95,000. 97.76% of the stock is owned by institutional investors.

Akero Therapeutics Company Profile

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Akero Therapeutics, Inc is a clinical-stage company, which engages in the development of treatments for patients with serious metabolic diseases. The firm’s lead product candidate, efruxifermin (EFX), is an analog of fibroblast growth factor 21, or FGF21, which is an endogenously expressed hormone that protects against cellular stress and regulates metabolism of lipids, carbohydrates, and proteins throughout the body.