SunTrust Banks Inc. reaffirmed their buy rating on shares of Achaogen Inc. (NASDAQ:AKAO) in a report issued on Monday morning. The firm currently has a $10.00 price objective on the biopharmaceutical company’s stock.
A number of other analysts have also recently weighed in on AKAO. Wedbush raised Achaogen from a neutral rating to an outperform rating and raised their price objective for the stock from $7.00 to $10.00 in a research report on Tuesday, June 14th. Zacks Investment Research raised Achaogen from a hold rating to a buy rating and set a $4.50 price objective for the company in a research report on Wednesday, July 6th. Finally, Needham & Company LLC reissued a hold rating on shares of Achaogen in a research report on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $8.17.
Shares of Achaogen (NASDAQ:AKAO) opened at 4.56 on Monday. The firm has a 50-day moving average price of $4.10 and a 200-day moving average price of $3.67. The stock’s market cap is $121.66 million. Achaogen has a 12 month low of $2.59 and a 12 month high of $6.50.
Achaogen (NASDAQ:AKAO) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $0.20. Achaogen had a negative net margin of 209.23% and a negative return on equity of 118.45%. The company earned $9.14 million during the quarter, compared to analysts’ expectations of $5.58 million. During the same quarter in the prior year, the business posted ($0.05) earnings per share. The company’s revenue was down 24.1% compared to the same quarter last year. Equities analysts forecast that Achaogen will post ($2.71) EPS for the current year.
A number of hedge funds have recently modified their holdings of AKAO. Opaleye Management Inc. purchased a new stake in shares of Achaogen during the first quarter worth approximately $704,000. Renaissance Technologies LLC boosted its stake in shares of Achaogen by 174.0% in the first quarter. Renaissance Technologies LLC now owns 64,400 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 40,900 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Achaogen by 13.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 85,472 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 10,330 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Achaogen by 241.4% in the second quarter. Point72 Asset Management L.P. now owns 890,000 shares of the biopharmaceutical company’s stock worth $3,373,000 after buying an additional 629,309 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in shares of Achaogen during the second quarter worth approximately $142,000. 56.84% of the stock is owned by institutional investors.
Achaogen, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterials to treat multi-drug resistant (MDR) gram-negative infections. The Company is developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections due to MDR Enterobacteriaceae, including carbapenem-resistant enterobacteriaceae (CRE).
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