In a report released today, Michael Morabito from Chardan Capital initiated coverage with a Buy rating on Akero Therapeutics (AKRO) and a price target of $79.00. The company’s shares closed last Monday at $34.96, close to its 52-week high of $35.30.
According to TipRanks.com, Morabito is a 1-star analyst with an average return of -13.1% and a 33.3% success rate. Morabito covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, NGM Biopharmaceuticals, and Viking Therapeutics.
Currently, the analyst consensus on Akero Therapeutics is a Strong Buy with an average price target of $46.25, representing a 43.4% upside. In a report issued on July 1, H.C. Wainwright also maintained a Buy rating on the stock with a $45.00 price target.
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Based on Akero Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $11.89 million. In comparison, last year the company had a GAAP net loss of $5.36 million.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AKRO in relation to earlier this year.
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Akero Therapeutics, Inc. operates as a biotechnology company. The firm specializes in transformational treatments for non-alcoholic steatohepatitis (NASH) and other serious metabolic diseases. The company was founded by Jonathan Young and Timothy Rolph on January 24, 2017 and is headquartered in South San Francisco, CA.
