Achaogen Inc. (AKAO) Rating Reiterated by SunTrust Banks Inc.
Achaogen Inc. (NASDAQ:AKAO)‘s stock had its “buy” rating restated by research analysts at SunTrust Banks Inc. in a research report issued to clients and investors on Monday. They presently have a $10.00 target price on the biopharmaceutical company’s stock. SunTrust Banks Inc.’s target price would suggest a potential upside of 130.41% from the company’s current price.
Several other research analysts have also commented on the stock. Zacks Investment Research raised shares of Achaogen from a “sell” rating to a “hold” rating in a research note on Thursday, August 25th. Wedbush raised shares of Achaogen from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $7.00 to $10.00 in a research note on Tuesday, June 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Achaogen in a research note on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $8.17.
Achaogen (NASDAQ:AKAO) opened at 4.34 on Monday. The firm’s 50-day moving average is $4.06 and its 200-day moving average is $3.66. The firm’s market cap is $115.79 million. Achaogen has a 52 week low of $2.59 and a 52 week high of $6.50.
Achaogen (NASDAQ:AKAO) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $0.20. The company had revenue of $9.14 million for the quarter, compared to analysts’ expectations of $5.58 million. Achaogen had a negative return on equity of 118.45% and a negative net margin of 209.23%. The company’s quarterly revenue was down 24.1% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. On average, equities analysts anticipate that Achaogen will post ($2.71) earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its position 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. increased its position 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. Opaleye Management Inc. purchased a new position in shares of Achaogen during the first quarter worth about $704,000. NEA Management Company LLC purchased a new position in shares of Achaogen during the second quarter worth about $17,870,000. Finally, Vanguard Group Inc. increased its position in shares of Achaogen by 10.7% in the second quarter. Vanguard Group Inc. now owns 358,478 shares of the biopharmaceutical company’s stock worth $1,358,000 after buying an additional 34,751 shares in the last quarter. Institutional investors own 56.84% of the company’s stock.
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).
Receive News & Stock Ratings for Achaogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Achaogen Inc. and related stocks with our FREE daily email newsletter.