Achaogen, Inc. (NASDAQ:AKAO) Lowered to Strong Sell at BidaskClub
BidaskClub downgraded shares of Achaogen, Inc. (NASDAQ:AKAO) from a sell rating to a strong sell rating in a research report released on Saturday morning.
A number of other brokerages also recently issued reports on AKAO. Cowen and Company reaffirmed an outperform rating on shares of Achaogen in a research report on Friday, May 5th. Zacks Investment Research raised Achaogen from a sell rating to a hold rating and set a $27.00 price target on the stock in a research report on Monday, July 17th. Stifel Nicolaus reaffirmed a buy rating and set a $31.00 price target (up from $28.00) on shares of Achaogen in a research report on Tuesday, May 9th. HC Wainwright began coverage on Achaogen in a research report on Thursday, June 15th. They set a buy rating and a $29.00 price target on the stock. Finally, Wedbush reaffirmed an outperform rating and set a $28.00 price target on shares of Achaogen in a research report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $25.88.
Shares of Achaogen (NASDAQ:AKAO) traded down 0.24% during trading on Friday, hitting $16.65. The stock had a trading volume of 638,947 shares. The company’s market cap is $703.18 million. The stock has a 50 day moving average of $21.17 and a 200 day moving average of $22.10. Achaogen has a 12 month low of $3.65 and a 12 month high of $27.79.
Achaogen (NASDAQ:AKAO) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by $0.18. The business had revenue of $1.30 million for the quarter, compared to analyst estimates of $2.69 million. Achaogen had a negative return on equity of 86.24% and a negative net margin of 281.88%. The business’s revenue for the quarter was down 85.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.87) earnings per share. Equities analysts forecast that Achaogen will post ($3.00) EPS for the current fiscal year.
In related news, CFO Tobin Schilke sold 2,066 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $21.53, for a total value of $44,480.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 13.80% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in AKAO. Legal & General Group Plc purchased a new position in Achaogen during the second quarter valued at about $168,000. Bank of Montreal Can increased 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 valued at $189,000 after buying an additional 1,500 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Achaogen during the first quarter valued at about $199,000. Sigma Planning Corp increased 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 valued at $205,000 after buying an additional 825 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Achaogen during the first quarter valued at about $240,000. 70.30% of the stock is currently owned by hedge funds and other institutional investors.
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).
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.