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Yale Catronia, Chief Development Officer at Akero Therapeutics, Inc. (NASDAQ:AKRO), recently sold 614 shares of the company’s common stock. The transaction, which took place on March 12, was valued at approximately $27,556, with the shares sold at an average price of $44.88 each. The sale comes amid impressive momentum for AKRO stock, which has delivered a 58.7% return year-to-date. The company, currently valued at $3.51 billion, maintains strong financial health with a robust current ratio of 19.38.
Following this sale, Catriona retains direct ownership of 95,034 shares in the company. According to a footnote in the filing, the sale was part of a "sell-to-cover" policy adopted by Akero Therapeutics to satisfy tax withholding obligations related to the vesting of restricted stock units. These sales were automatic and not at Catriona’s discretion. InvestingPro analysis reveals the company holds more cash than debt on its balance sheet, with 11 additional key insights available to subscribers.
In other recent news, Akero Therapeutics has seen several analysts revise their price targets upward following promising trial results for its leading drug candidate, efruxifermin (EFX). Citi analysts increased their price target to $80, highlighting the significance of the 96-week SYMMETRY data, which showed statistically significant fibrosis improvement in patients with metabolic-associated steatohepatitis (MASH) and compensated cirrhosis. Similarly, Jefferies raised its price target to $75, citing the strong Phase IIB trial results and the potential for Akero to capture a substantial market opportunity in non-alcoholic steatohepatitis (NASH).
Canaccord Genuity also adjusted its target to $73, expressing optimism about the trial’s impact on Akero’s prospects in treating metabolic disorders. H.C. Wainwright updated its model, raising its target to $72, based on a risk-adjusted net present value model for EFX’s market potential. The firm’s analysis anticipates global peak revenues of $4.5 billion by 2037, with a projected market exclusivity through that year.
Analyst Ed Arce from H.C. Wainwright also emphasized key risks that could affect Akero’s valuation, including potential trial failures and funding challenges. Collectively, these developments underscore a positive outlook from the analyst community regarding Akero’s future performance and the potential of its drug candidate, EFX, to address unmet needs in liver diseases.
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