BidaskClub lowered shares of Achaogen, Inc. (NASDAQ:AKAO) from a sell rating to a strong sell rating in a report published on Saturday.
Several other analysts also recently issued reports on AKAO. Wedbush reaffirmed an outperform rating and issued a $28.00 price target on shares of Achaogen in a report on Monday, April 24th. Cowen and Company reaffirmed an outperform rating on shares of Achaogen in a report on Friday, May 5th. Stifel Nicolaus reaffirmed a buy rating and issued a $31.00 price target (up previously from $28.00) on shares of Achaogen in a report on Tuesday, May 9th. ValuEngine raised shares of Achaogen from a sell rating to a hold rating in a report on Friday, June 2nd. Finally, HC Wainwright started coverage on shares of Achaogen in a report on Thursday, June 15th. They issued a buy rating and a $29.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Achaogen currently has a consensus rating of Buy and an average target price of $25.88.
Shares of Achaogen (NASDAQ AKAO) traded down 0.24% during midday trading on Friday, reaching $16.65. The company’s stock had a trading volume of 638,947 shares. Achaogen has a 52 week low of $3.65 and a 52 week high of $27.79. The company has a 50 day moving average of $21.17 and a 200-day moving average of $22.10. The stock’s market capitalization is $703.18 million.
Achaogen (NASDAQ:AKAO) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by $0.18. Achaogen had a negative net margin of 281.88% and a negative return on equity of 86.24%. The business had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $2.69 million. During the same period last year, the company earned ($0.87) EPS. The firm’s revenue for the quarter was down 85.7% on a year-over-year basis. Equities research analysts predict that Achaogen will post ($3.00) earnings per share for the current year.
In other news, CFO Tobin Schilke sold 2,066 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $21.53, for a total value of $44,480.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.80% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in Achaogen during the second quarter valued at about $168,000. Bank of Montreal Can raised its stake in Achaogen by 25.0% in the first quarter. Bank of Montreal Can now owns 7,500 shares of the biopharmaceutical company’s stock valued at $189,000 after buying an additional 1,500 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Achaogen during the first quarter valued at about $199,000. Sigma Planning Corp raised its stake in Achaogen by 9.6% in the second quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock valued at $205,000 after buying an additional 825 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Achaogen during the first quarter valued at about $240,000. 70.30% of the stock is owned by institutional investors.
Achaogen Company Profile
Achaogen, Inc is a late-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections. The Company is involved in researching and developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections, including complicated urinary tract infection (cUTI), blood stream infections and other infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae (CRE).
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