10 Best Small-Cap Healthcare Stocks To Buy Now

7. Akero Therapeutics, Inc. (NASDAQ:AKRO)

Number of Hedge Fund Holders: 31 

Akero Therapeutics, Inc. (NASDAQ:AKRO) is a clinical-stage biopharmaceutical company focused on developing innovative treatments for serious metabolic diseases, particularly non-alcoholic steatohepatitis (NASH). The company’s primary focus is on efruxifermin (EFX), its lead product candidate, which is currently in Phase 3 clinical trials. EFX is designed to protect against cellular stress and regulate the metabolism of lipids, carbohydrates, and proteins throughout the body.

A major catalyst for Akero Therapeutics, Inc. (NASDAQ:AKRO) is the positive clinical trial results for EFX in treating NASH. In September 2022, the company reported that EFX met its primary endpoint in the Phase 2b HARMONY study, demonstrating significant improvements in liver fibrosis without worsening of NASH. This breakthrough has positioned Akero as a frontrunner in the race to develop an effective NASH treatment, a market estimated to reach $21.5 billion by 2025.

As of Q2 2024, around 31 hedge fund holders held stakes in the stock with Alkeon Capital Management being the largest stakeholder with 3,327,220 shares worth $78,056,581. The stock holds a Strong Buy rating based on 6 Wall Street Analysts. The average price target is $48.33, with forecasts ranging from $38.00 to $60.00, indicating a 77.68% increase from the current price of $27.20.