“We estimate market share of Plazomicin to be 20% and 15%, respectively in confirmed carbapenem-resistant Enterobacteriaceae (CRE) and suspected CRE cases.”,” the firm’s analyst commented.
AKAO has been the subject of several other reports. BidaskClub cut shares of Achaogen from a buy rating to a hold rating in a research note on Monday, July 24th. Leerink Swann reiterated an outperform rating and set a $22.00 target price (down from $28.00) on shares of Achaogen in a research note on Monday, October 9th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Achaogen from a sell rating to a hold rating and set a $27.00 target price for the company in a research note on Monday, July 17th. Guggenheim initiated coverage on shares of Achaogen in a research note on Tuesday, October 24th. They set a buy rating and a $17.00 target price for the company. Finally, Stifel Nicolaus reiterated a buy rating and set a $30.00 target price on shares of Achaogen in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $26.48.
Achaogen (NASDAQ:AKAO) last issued its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.18). Achaogen had a negative return on equity of 86.24% and a negative net margin of 281.88%. The firm had revenue of $1.30 million during the quarter, compared to analyst estimates of $2.69 million. During the same quarter in the previous year, the firm posted ($0.87) earnings per share. Achaogen’s quarterly revenue was down 85.7% compared to the same quarter last year.
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In other news, COO Blake Wise sold 3,576 shares of the stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total value of $57,180.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.36% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. First Midwest Bank Trust Division raised its stake in shares of Achaogen by 125.8% in the 3rd quarter. First Midwest Bank Trust Division now owns 46,036 shares of the biopharmaceutical company’s stock valued at $734,000 after buying an additional 25,648 shares in the last quarter. Ardsley Advisory Partners acquired a new position in shares of Achaogen in the 2nd quarter valued at $217,000. Lord Abbett & CO. LLC raised its stake in shares of Achaogen by 153.2% in the 2nd quarter. Lord Abbett & CO. LLC now owns 435,953 shares of the biopharmaceutical company’s stock valued at $9,473,000 after buying an additional 263,799 shares in the last quarter. California State Teachers Retirement System acquired a new position in shares of Achaogen in the 2nd quarter valued at $1,117,000. Finally, Bank of Nova Scotia acquired a new position in shares of Achaogen in the 2nd quarter valued at $1,740,000. Institutional investors own 84.14% of the company’s stock.
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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