Wedbush restated their outperform rating on shares of Achaogen Inc. (NASDAQ:AKAO) in a report released on Tuesday. The firm currently has a $10.00 target price on the biopharmaceutical company’s stock.
A number of other brokerages have also issued reports on AKAO. Zacks Investment Research upgraded Achaogen from a sell rating to a hold rating in a research report on Thursday, August 25th. Needham & Company LLC reiterated a hold rating on shares of Achaogen in a research report on Tuesday, August 9th. Finally, SunTrust Banks Inc. reiterated a buy rating and set a $10.00 price target on shares of Achaogen in a research report on Monday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $8.17.
Achaogen (NASDAQ:AKAO) traded down 0.69% on Tuesday, reaching $4.31. The company’s stock had a trading volume of 58,506 shares. Achaogen has a 52-week low of $2.59 and a 52-week high of $6.50. The firm has a 50-day moving average price of $4.06 and a 200 day moving average price of $3.66. The firm’s market capitalization is $114.99 million.
Achaogen (NASDAQ:AKAO) last released its quarterly earnings data 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 had revenue of $9.14 million for the quarter, compared to analyst estimates of $5.58 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The company’s revenue for the quarter was down 24.1% compared to the same quarter last year. Equities analysts anticipate that Achaogen will post ($2.71) earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of AKAO. ICONIQ Capital LLC increased its stake in Achaogen by 100.3% in the second quarter. ICONIQ Capital LLC now owns 28,629 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 14,333 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in Achaogen during the second quarter worth approximately $142,000. Eagle Global Advisors LLC increased its stake in Achaogen by 55.4% in the second quarter. Eagle Global Advisors LLC now owns 38,749 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 13,812 shares in the last quarter. Renaissance Technologies LLC increased its stake in 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. Finally, Jacobs Levy Equity Management Inc. increased its stake in 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. 56.84% of the stock is currently owned by institutional investors.
Achaogen Company Profile
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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