Wedbush restated their outperform rating on shares of Achaogen Inc. (NASDAQ:AKAO) in a report published on Tuesday morning. They currently have a $10.00 price objective on the biopharmaceutical company’s stock.

AKAO has been the topic of a number of other research reports. SunTrust Banks Inc. reaffirmed a buy rating and set a $10.00 price target on shares of Achaogen in a report on Monday, September 26th. Aegis initiated coverage on shares of Achaogen in a report on Wednesday, November 2nd. They set a buy rating and a $10.00 price target on the stock. Cowen and Company reaffirmed a hold rating on shares of Achaogen in a report on Tuesday, November 8th. Needham & Company LLC reiterated a hold rating on shares of Achaogen in a research note on Tuesday, August 9th. Finally, Zacks Investment Research cut shares of Achaogen from a buy rating to a hold rating in a research note on Thursday, August 11th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $8.63.

Achaogen (NASDAQ:AKAO) traded up 1.4752% during trading on Tuesday, reaching $4.9114. 76,483 shares of the company’s stock were exchanged. The company’s market cap is $134.82 million. Achaogen has a 12-month low of $2.59 and a 12-month high of $6.18. The stock’s 50-day moving average is $4.87 and its 200-day moving average is $4.12.

Achaogen (NASDAQ:AKAO) last announced its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.20. The firm had revenue of $16.05 million for the quarter, compared to the consensus estimate of $8.72 million. Achaogen had a negative net margin of 147.80% and a negative return on equity of 143.44%. The business’s quarterly revenue was up 258.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.48) EPS. Analysts predict that Achaogen will post ($2.31) EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in AKAO. NEA Management Company LLC purchased a new stake in Achaogen during the second quarter worth approximately $17,870,000. Sphera Funds Management LTD. bought a new stake in Achaogen during the third quarter valued at about $6,228,000. 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 last quarter. Opaleye Management Inc. bought a new stake in Achaogen during the first quarter valued at about $704,000. Finally, Spark Investment Management LLC boosted its stake in Achaogen by 852.7% in the third quarter. Spark Investment Management LLC now owns 143,865 shares of the biopharmaceutical company’s stock valued at $689,000 after buying an additional 128,765 shares during the last quarter. Institutional investors own 55.96% of the company’s stock.

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About Achaogen

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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