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William Richard White, the Chief Financial Officer of Akero Therapeutics, Inc. (NASDAQ:AKRO), recently sold 676 shares of the company’s common stock. The shares were sold at a price of $44.88 each, amounting to a total transaction value of $30,338. Following this transaction, White holds 61,959 shares in the company. The transaction occurs as AKRO shows impressive momentum, with the stock up over 60% in the past year. According to InvestingPro data, the company maintains a strong financial position with a current ratio of 19.38.
This sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units, as per the company’s "sell-to-cover" policy. The transaction was automatic and not at the discretion of White. InvestingPro analysis reveals the company holds more cash than debt, with analysts setting price targets ranging from $60 to $109. Discover 10+ additional exclusive ProTips and comprehensive financial metrics with an InvestingPro subscription.
In other recent news, Akero Therapeutics has seen a series of analyst upgrades following promising trial results for its lead drug candidate, efruxifermin (EFX). Citi analysts raised their price target for Akero to $80, citing the significant improvement in fibrosis for patients with metabolic-associated steatohepatitis (MASH) seen in the 96-week SYMMETRY study. Similarly, Jefferies increased their target to $75, highlighting the potential for EFX to capture a substantial opportunity in the NASH market. Canaccord Genuity also raised their target to $73, reflecting confidence in the positive trial data for EFX in treating liver diseases like MASH.
H.C. Wainwright adjusted its target to $72, based on a revised valuation model that considers the potential market value of EFX for patients with MASH and F2/F3 fibrosis. The firm also noted the risk-adjusted value of EFX for treating well-compensated cirrhotic (F4) MASH. Analysts have expressed optimism about Akero’s prospects, citing the lack of major competition and the potential for significant market growth in MASH treatments.
These developments have led to maintained Buy ratings from several analyst firms, reflecting a positive outlook for Akero Therapeutics. The company’s recent clinical achievements have positioned it as an attractive candidate for acquisition by larger pharmaceutical companies. The ongoing interest in Akero’s drug candidates underscores the potential for further strategic developments in the near future.
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