Achaogen Inc (NASDAQ:AKAO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, July 11th.

According to Zacks, “Achaogen, Inc. is a clinical-stage biopharmaceutical company. It is focused on the discovery, development, and commercialization of novel antibacterials to treat multi-drug resistant, or 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. Achaogen, Inc. is headquartered in South San Francisco, California. “

Several other brokerages also recently commented on AKAO. Aegis downgraded shares of Achaogen from a “buy” rating to a “hold” rating and set a $29.00 target price for the company. in a report on Thursday, March 30th. Stifel Nicolaus increased their target price on shares of Achaogen from $27.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 15th. Needham & Company LLC reiterated a “buy” rating and issued a $29.00 target price on shares of Achaogen in a report on Wednesday, March 15th. Cowen and Company restated an “outperform” rating on shares of Achaogen in a research report on Friday, May 5th. Finally, BidaskClub upgraded shares of Achaogen from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.88.

Achaogen (NASDAQ:AKAO) traded up 7.40% during midday trading on Tuesday, reaching $19.02. 694,432 shares of the company’s stock were exchanged. The company’s market cap is $681.92 million. The firm has a 50-day moving average price of $22.16 and a 200 day moving average price of $22.18. Achaogen has a 52 week low of $3.60 and a 52 week high of $27.79.

Achaogen (NASDAQ:AKAO) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by $0.18. The firm had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $2.69 million. Achaogen had a negative net margin of 2,059.24% and a negative return on equity of 81.33%. The business’s revenue for the quarter was down 85.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.87) EPS. Analysts anticipate that Achaogen will post ($2.59) EPS for the current year.

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In other Achaogen news, CFO Tobin Schilke sold 2,066 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $21.53, for a total transaction of $44,480.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 13.80% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Sigma Planning Corp raised its position in Achaogen by 9.6% in the second quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock worth $205,000 after buying an additional 825 shares during the period. Bank of Montreal Can raised its position in Achaogen by 25.0% in the first quarter. Bank of Montreal Can now owns 7,500 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 1,500 shares during the period. First Midwest Bank Trust Division raised its position in Achaogen by 17.9% in the second quarter. First Midwest Bank Trust Division now owns 20,388 shares of the biopharmaceutical company’s stock worth $443,000 after buying an additional 3,095 shares during the period. Bank of New York Mellon Corp raised its position in Achaogen by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 113,783 shares of the biopharmaceutical company’s stock worth $2,871,000 after buying an additional 3,150 shares during the period. Finally, Essex Investment Management Co. LLC raised its position in Achaogen by 14.4% in the second quarter. Essex Investment Management Co. LLC now owns 26,330 shares of the biopharmaceutical company’s stock worth $572,000 after buying an additional 3,319 shares during the period. Institutional investors own 70.30% of the company’s stock.

Achaogen Company Profile

Achaogen, Inc is a late-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections. The Company is involved in researching and developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections, including complicated urinary tract infection (cUTI), blood stream infections and other infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae (CRE).

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