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SAN FRANCISCO—Graham G. Walmsley, a director at Akero Therapeutics Inc . (NASDAQ:AKRO), recently increased his stake in the company by purchasing additional shares. According to a recent SEC filing, Walmsley acquired a total of 200,000 shares over three consecutive days. The company, currently valued at $3.48 billion, has seen its stock surge over 54% in the past six months, according to InvestingPro data.
The transactions were completed between March 25 and March 27, with purchase prices ranging from $43.012 to $44.747 per share. The total value of these transactions amounted to approximately $8.79 million. Analysts maintain a highly bullish outlook on the stock, with a consensus rating of 1.25 and price targets reaching as high as $109 per share.
These shares are held indirectly through Logos Global Master Fund LP and Logos Opportunities Fund IV LP, where Walmsley serves as a managing member of the general partners. Following these acquisitions, Walmsley’s total indirect ownership in Akero Therapeutics increased to 1,200,000 shares.
The transactions reflect Walmsley’s continued confidence in Akero Therapeutics, a company focused on developing treatments for serious metabolic diseases.
In other recent news, Akero Therapeutics has seen a series of analyst upgrades following promising trial results for its treatment candidate, efruxifermin (EFX), for non-alcoholic steatohepatitis (NASH). Citi analysts raised their price target for Akero to $80, citing significant improvements in fibrosis among patients with compensated cirrhosis, a group that currently lacks treatment options. Jefferies also increased their target to $75, highlighting the potential for Akero to capture a substantial market opportunity in NASH. Canaccord Genuity adjusted their target to $73, expressing optimism about the trial’s significant results in improving fibrosis. H.C. Wainwright set a new target of $75, up from $72, based on a revised net present value model.
These adjustments reflect a positive outlook on Akero’s potential market exclusivity for EFX through 2037. Analysts anticipate that the strong trial data could attract strategic interest from larger pharmaceutical companies. The maintained Buy ratings from these firms indicate continued confidence in Akero’s future performance, with potential for accelerated FDA approval due to the robustness of the trial results.
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