Achaogen Inc (AKAO) Major Shareholder Buys $570,500.00 in Stock
Achaogen Inc (NASDAQ:AKAO) major shareholder Robert W. Duggan purchased 50,000 shares of Achaogen stock in a transaction that occurred on Friday, March 9th. The shares were bought at an average cost of $11.41 per share, for a total transaction of $570,500.00. Following the completion of the transaction, the insider now directly owns 6,255,148 shares in the company, valued at approximately $71,371,238.68. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Achaogen Inc (NASDAQ:AKAO) opened at $11.50 on Wednesday. Achaogen Inc has a twelve month low of $9.83 and a twelve month high of $27.49. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 0.08.
Achaogen (NASDAQ:AKAO) last issued its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.77) by ($0.21). Achaogen had a negative net margin of 1,124.10% and a negative return on equity of 83.14%. The firm had revenue of $1.87 million during the quarter, compared to the consensus estimate of $1.18 million. equities research analysts anticipate that Achaogen Inc will post -3.5 EPS for the current fiscal year.
AKAO has been the topic of a number of recent analyst reports. HC Wainwright upped their target price on Achaogen from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Zacks Investment Research lowered Achaogen from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Guggenheim reaffirmed a “buy” rating and issued a $14.00 target price on shares of Achaogen in a research report on Wednesday, January 10th. Mizuho reaffirmed a “buy” rating and issued a $28.00 target price on shares of Achaogen in a research report on Thursday, November 30th. Finally, ValuEngine raised Achaogen from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Achaogen has a consensus rating of “Buy” and a consensus target price of $24.10.
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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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