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.

Analyst Recommendations for Achaogen (NASDAQ:AKAO)

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.

COPYRIGHT VIOLATION NOTICE: “Achaogen Inc. (AKAO) Stock Rating Upgraded by Cowen and Company” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another website, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be read at https://www.thecerbatgem.com/2016/11/28/cowen-and-company-upgrades-achaogen-inc-akao-to-outperform.html.

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).

5 Day Chart for NASDAQ:AKAO

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.