Akero Therapeutics Q2 net income just shy of estimates, cash position strong
Overview
Akero Q2 net loss just shy of analyst expectations, per LSEG data
Operating income beats estimates, reflecting controlled expenses, per LSEG data
Outlook
Akero's cash reserves expected to fund operations into 2028
Result Drivers
R&D EXPENSES - R&D costs increase due to ongoing clinical studies and manufacture of clinical supplies
HIGHER COSTS - General costs increase lifting total operating expenses
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Income | Miss | -$70.50 mln | -$70.10 mln (5 Analysts) |
Q2 Operating Income | In line | -$80.87 mln | -$80.90 mln (5 Analysts) |
Q2 Basic EPS |
| -$0.86 |
|
Q2 Operating Expenses |
| $80.87 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Akero Therapeutics Inc is $75.00, about 32.7% above its August 7 closing price of $50.45
Press Release: ID:nGNXddhVM
