On September 19, 2023, stock analysts at Cantor Fitzgerald released a research report on Akero Therapeutics (NASDAQ:AKRO), providing an initiation of coverage for the company’s shares. According to Briefing.com, Cantor Fitzgerald assigned an “overweight” rating to Akero Therapeutics’ stock and set a price target of $69.00. This target suggests a potential upside of 32.06% from the current price.
As of Tuesday, NASDAQ:AKRO opened at $52.25. With a market capitalization of $2.91 billion, a PE ratio of -20.41, and a beta of -0.94, the firm stands as an influential force within the industry. Akero Therapeutics’ fifty-day moving average is $46.43, while its 200-day moving average is slightly lower at $45.30.
Over the past year, Akero Therapeutics has experienced a range in its stock performance with a fifty-two week low of $25.21 and a fifty-two week high of $58.38. In terms of its financial structure, the company maintains a debt-to-equity ratio of 0.04, indicating favorable capital management practices.
Recent changes in positions have been observed among large investors regarding Akero Therapeutics’ stock holdings. Point72 Hong Kong Ltd acquired new shares during the first quarter valued at approximately $32,000, suggesting their confidence in the company’s outlook for growth in value. Furthermore, Osaic Holdings Inc., which currently holds 1,809 shares worth roughly $84,000, has increased its stake by 24.8% during the second quarter.
Royal Bank of Canada also participated in boosting their stake by approximately 9.9%, resulting in ownership of 2,605 shares valued at about $89,000 during the third quarter period analyzed in this report by Cantor Fitzgerald. Likewise, Quantbot Technologies LP experienced a significant rise in shares held, purchasing an additional 8,691 shares during the second quarter. Their total ownership now amounts to 10,100 shares valued at $95,000.
Wells Fargo & Company MN stands as another key investor in Akero Therapeutics with a stake of 1,817 shares worth approximately $100,000. They increased their holdings by 104.5% during the fourth quarter by acquiring an additional 42,582 shares.
In terms of earnings performance, Akero Therapeutics reported better-than-expected results for the most recent quarter ending on August 11th. The company posted ($0.60) earnings per share compared to the consensus estimate of ($0.61), surpassing expectations by $0.01.
Looking ahead, sell-side analysts anticipate that Akero Therapeutics will report earnings per share of -2.75 for the current year.
Taking all of this into account, Cantor Fitzgerald’s initiation of coverage highlights Akero Therapeutics’ potential for future success in the market. This research report provides valuable information for clients and investors considering investment opportunities within this particular sector and offers insight into the various factors impacting Akero Therapeutics’ stock position and growth prospects.
NovoCure Limited
NVCR
Buy
Updated on: 19/09/2023
Financial Health
Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Positive Ratings and Insider Trading Activity Showcase Promising Outlook for Akero Therapeutics
September 19, 2023
Akero Therapeutics Receives Positive Ratings from Analysts and Sees Insider Trading Activity
Akero Therapeutics, a leading pharmaceutical company specializing in innovative therapies, has received favorable ratings from research analysts. This is according to recent reports issued by various reputable firms.
One of these research reports came from HC Wainwright. In their report released on June 7th, the target price for Akero Therapeutics was raised from $62.00 to $64.00. This suggests that the company’s prospects are optimistic and viewed favorably in the market.
Similarly, UBS Group also weighed in on Akero Therapeutics by initiating coverage on August 28th. They assigned a “buy” rating with a price objective of $83.00 per share. This demonstrates confidence in the company’s potential for growth.
JPMorgan Chase & Co., another prominent analyst firm, revised their target price for Akero Therapeutics from $49.00 to $62.00 and granted the stock an “overweight” rating on September 5th. The upsurge in target price reflects high expectations for the company’s performance.
Evercore ISI joined the ranks of positive evaluations on September 13th by increasing their target price for shares of Akero Therapeutics from $50.00 to $60.00 and labeling them as “outperform.” These accolades further indicate a growing belief in the company’s ability to deliver results.
In total, eight analysts have rated Akero Therapeutics stock as a buy according to Bloomberg data. With an average rating of “Buy” and an average target price of $65.86, it is evident that industry experts anticipate significant growth and value in this pharmaceutical enterprise.
Beyond these favorable assessments, recent insider trading activity has also caught attention within the market sphere. On July 28th, Director G. Walmsley Graham acquired 30,000 shares of Akero Therapeutics stock. This purchase, made at an average price of $42.69 per share, translated to a total transaction amount of $1,280,700.00. As a result, the director now holds 550,000 shares valued at approximately $23,479,500. This insider buying indicates confidence in the company’s future prospects.
On the other hand, CEO Andrew Cheng sold 25,000 shares of Akero Therapeutics on July 3rd for an average price of $44.88 per share. The total value of this sale amounted to $1,122,000.00. After the transaction completed, Cheng retained ownership of 447,680 shares valued at approximately $20,091,878.40.
These insider transactions were filed and disclosed according to legal requirements with the Securities & Exchange Commission (SEC). The details can be found on SEC’s official website.
It is noteworthy that within the last ninety days preceding this report release date (September 19th), insiders acquired a total of 80,000 shares worth $3,413,700 and disposed of 78,094 shares with a value totaling $3,804,901. The insider ownership currently stands at 9.69% of the company’s stock.
In conclusion, Akero Therapeutics has received positive ratings from research analysts and witnessed significant recent insider trading activity. These factors contribute to an overall sense that investors view the company as having strong growth potential and trust in its leadership team.
Disclaimer: This article does not offer investment advice or endorsement but is purely informative in nature. Investors are encouraged to conduct their own thorough research before making any financial decisions regarding Akero Therapeutics or any other company mentioned herein.
References:
– Bloomberg
– Securities & Exchange Commission (SEC) website
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