Achaogen Inc. (AKAO) Stock Rating Upgraded by Cowen and Company
Achaogen Inc. (NASDAQ:AKAO) was upgraded by equities research analysts at Cowen and Company from a “market perform” rating to an “outperform” rating in a research note issued on Monday.
The analysts wrote, “AKAO moved up Plazomicin (Plz) pivotal Ph3 EPIC cUTI top-line and CARE trial data.””
Several other research firms also recently commented on AKAO. Wedbush reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Achaogen in a report on Tuesday, November 22nd. Aegis began coverage on shares of Achaogen in a report on Wednesday, November 2nd. They set a “buy” rating and a $10.00 price objective on the stock. SunTrust Banks Inc. reiterated a “buy” rating and set a $10.00 price target on shares of Achaogen in a research report on Monday, September 26th. Needham & Company LLC reiterated a “hold” rating on shares of Achaogen in a research report on Tuesday, August 9th. Finally, Zacks Investment Research cut Achaogen from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $8.63.
Achaogen (NASDAQ:AKAO) traded down 2.16% during midday trading on Monday, hitting $4.99. 401,866 shares of the stock were exchanged. The company’s market capitalization is $136.98 million. The company’s 50 day moving average is $4.88 and its 200 day moving average is $4.14. Achaogen has a 1-year low of $2.59 and a 1-year high of $6.18.
Achaogen (NASDAQ:AKAO) last released its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.41) EPS 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 net margin of 147.80% and a negative return on equity of 143.44%. The company’s revenue was up 258.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.48) earnings per share. Analysts predict that Achaogen will post ($2.31) earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Redmile Group LLC bought a new position in Achaogen during the third quarter valued at $155,000. Baker BROS. Advisors LP bought a new position in Achaogen during the third quarter valued at $479,000. Polar Capital LLP boosted its position in Achaogen by 45.0% in the third quarter. Polar Capital LLP now owns 145,000 shares of the biopharmaceutical company’s stock valued at $695,000 after buying an additional 45,000 shares during the period. Sphera Funds Management LTD. bought a new position in Achaogen during the third quarter valued at $6,228,000. Finally, Spark Investment Management LLC boosted its position 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 period. Institutional investors own 54.69% of the company’s stock.
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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