Bullish indicating open at $55-$60, IPO prices at $37
In a recent transaction, Rolph Timothy, the Chief Scientific Officer of Akero Therapeutics, Inc. (NASDAQ:AKRO), sold 516 shares of the company’s common stock. The shares were sold on March 12 at a price of $44.88 each, amounting to a total transaction value of $23,158. The transaction comes as the stock shows remarkable strength, with a 61% gain over the past six months. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $60 to $109.
Following this sale, Timothy retains ownership of 169,721 shares in the company. It’s important to note that the sale was executed to cover tax withholding obligations related to the vesting of restricted stock units, as part of the company’s "sell-to-cover" policy. This means the transaction was automatic and not at Timothy’s discretion. The company, currently valued at $3.51 billion, maintains strong liquidity with a current ratio of 19.38. InvestingPro subscribers can access detailed insider trading patterns and 11 additional key insights about AKRO’s financial health and market position.
In other recent news, Akero Therapeutics has seen a series of price target increases from several analyst firms following the release of promising trial data. Citi analysts raised their price target to $80, highlighting the significant 96-week SYMMETRY data for Akero’s treatment candidate, EFX, in patients with MASH F4C, which achieved statistically significant fibrosis improvement. Jefferies also increased its price target to $75, citing the strong Phase IIB trial results and the potential for Akero to capture a substantial opportunity in the NASH market. Similarly, H.C. Wainwright adjusted its target to $75, based on a revised valuation model for EFX’s potential in treating NASH with F2/F3 fibrosis.
Canaccord Genuity raised its price target to $73, expressing optimism about the trial results of efruxifermin (EFX) and its potential efficacy in treating metabolic disorders. The positive trial results have positioned Akero as an attractive candidate for acquisition by larger pharmaceutical companies, according to Jefferies. Analysts at H.C. Wainwright and Citi have maintained a Buy rating, reflecting continued confidence in Akero’s future performance. The anticipation of market growth in MASH treatments and potential FDA approval contribute to a favorable outlook for Akero Therapeutics among investors.
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