Achaogen Inc. (AKAO) Rating Reiterated by Wedbush
Achaogen Inc. (NASDAQ:AKAO)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a research note issued to investors on Tuesday. They currently have a $10.00 price target on the biopharmaceutical company’s stock. Wedbush’s price target points to a potential upside of 127.27% from the stock’s previous close.
Several other analysts also recently weighed in on AKAO. Zacks Investment Research downgraded Achaogen from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Aegis began coverage on Achaogen in a research note on Wednesday, November 2nd. They set a “buy” rating and a $10.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Achaogen in a research note 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 note on Monday, September 26th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $8.63.
Shares of Achaogen (NASDAQ:AKAO) opened at 4.40 on Tuesday. Achaogen has a 52-week low of $2.59 and a 52-week high of $6.24. The stock’s market cap is $117.39 million. The company’s 50 day moving average price is $4.75 and its 200 day moving average price is $4.01.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $0.20. The business had revenue of $16.05 million for the quarter, compared to the consensus estimate of $8.72 million. Achaogen had a negative return on equity of 137.24% and a negative net margin of 147.80%. The company’s quarterly revenue was up 258.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.48) EPS. On average, analysts anticipate that Achaogen will post ($2.70) earnings per share for the current year.
Several institutional investors have recently modified their holdings of the stock. ICONIQ Capital LLC boosted its position in shares of Achaogen by 100.3% in the second quarter. ICONIQ Capital LLC now owns 28,629 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 14,333 shares during the period. A.R.T. Advisors LLC acquired a new position in Achaogen during the second quarter worth $142,000. Eagle Global Advisors LLC boosted its position 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 during the last quarter. Jacobs Levy Equity Management Inc. boosted its position 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 during the last quarter. Finally, Polar Capital LLP acquired a new position in Achaogen during the second quarter worth $379,000. 56.83% of the stock is owned by institutional investors and hedge funds.
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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