Achaogen Inc. (AKAO) Receives Outperform Rating from Wedbush
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised Achaogen from a sell rating to a hold rating in a report on Thursday, August 25th. Needham & Company LLC reissued a hold rating on shares of Achaogen in a report on Tuesday, August 9th. Finally, SunTrust Banks Inc. reissued a buy rating and issued a $10.00 price objective on shares of Achaogen in a report on Monday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Achaogen currently has an average rating of Hold and a consensus target price of $8.17.
Achaogen (NASDAQ:AKAO) traded down 0.69% on Tuesday, reaching $4.31. 58,506 shares of the company traded hands. The stock’s market capitalization is $114.99 million. Achaogen has a 1-year low of $2.59 and a 1-year high of $6.50. The stock has a 50 day moving average of $4.06 and a 200-day moving average of $3.66.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings data 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 firm earned $9.14 million during the quarter, compared to analyst estimates of $5.58 million. Achaogen had a negative net margin of 209.23% and a negative return on equity of 118.45%. Achaogen’s revenue was down 24.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) earnings per share. On average, equities analysts anticipate that Achaogen will post ($2.71) EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. NEA Management Company LLC bought a new stake in Achaogen during the second quarter valued at approximately $17,870,000. Point72 Asset Management L.P. boosted its stake in Achaogen by 241.4% in the second quarter. Point72 Asset Management L.P. now owns 890,000 shares of the biopharmaceutical company’s stock valued at $3,373,000 after buying an additional 629,309 shares during the period. Opaleye Management Inc. bought a new stake in Achaogen during the first quarter valued at approximately $704,000. Polar Capital LLP bought a new stake in Achaogen during the second quarter valued at approximately $379,000. Finally, Renaissance Technologies LLC boosted 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 valued at $178,000 after buying an additional 40,900 shares during the period. Institutional investors and hedge funds 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).
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