Achaogen, Inc. (NASDAQ:AKAO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday. The firm currently has a $27.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 15.38% from the stock’s previous close.
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 analysts also recently commented on AKAO. Aegis downgraded shares of Achaogen from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a research report on Thursday, March 30th. BidaskClub raised shares of Achaogen from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. ValuEngine raised shares of Achaogen from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Wedbush reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Achaogen in a research report on Monday, April 24th. Finally, Cowen and Company reaffirmed an “outperform” rating on shares of Achaogen in a research report on Monday, May 15th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Achaogen presently has an average rating of “Buy” and a consensus price target of $25.98.
Achaogen (AKAO) opened at 23.40 on Monday. The company’s market cap is $838.96 million. The firm has a 50-day moving average of $22.49 and a 200-day moving average of $21.86. Achaogen has a 52 week low of $3.50 and a 52 week high of $27.79.
Achaogen (NASDAQ:AKAO) last released its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by $0.39. The firm had revenue of $7.46 million for the quarter, compared to analyst estimates of $3.81 million. Achaogen had a negative net margin of 212.71% and a negative return on equity of 119.78%. The business’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.66) EPS. Equities analysts forecast that Achaogen will post ($2.63) earnings per share for the current year.
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In related news, CFO Tobin Schilke sold 2,066 shares of the 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.80% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of 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 in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Achaogen during the first quarter worth about $199,000. Sigma Planning Corp purchased a new position in shares of Achaogen during the first quarter worth about $218,000. Fox Run Management L.L.C. purchased a new position in shares of Achaogen during the first quarter worth about $240,000. Finally, Beacon Financial Group purchased a new position in shares of Achaogen during the first quarter worth about $251,000. Institutional investors own 69.75% 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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