Achaogen Inc (NASDAQ:AKAO) major shareholder Robert W. Duggan acquired 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were purchased at an average price of $10.89 per share, with a total value of $163,350.00. Following the completion of the transaction, the insider now owns 5,617,752 shares of the company’s stock, valued at approximately $61,177,319.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Achaogen Inc (AKAO) traded down $0.58 on Friday, hitting $11.19. 935,023 shares of the company’s stock were exchanged, compared to its average volume of 2,556,831. Achaogen Inc has a 1-year low of $10.24 and a 1-year high of $27.79. The firm has a market capitalization of $474.38, a PE ratio of -3.33 and a beta of 1.35. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.08.
Achaogen (NASDAQ:AKAO) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.13). The business had revenue of $0.58 million during the quarter, compared to analyst estimates of $2.09 million. Achaogen had a negative net margin of 593.61% and a negative return on equity of 80.44%. The company’s revenue for the quarter was down 96.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.41) EPS. equities analysts forecast that Achaogen Inc will post -3.06 earnings per share for the current year.
A number of equities research analysts have weighed in on AKAO shares. Mizuho reiterated a “buy” rating and set a $28.00 price target on shares of Achaogen in a research report on Thursday, September 28th. Leerink Swann reiterated an “outperform” rating and set a $22.00 price target (down from $28.00) on shares of Achaogen in a research report on Monday, October 9th. They noted that the move was a valuation call. Guggenheim started coverage on shares of Achaogen in a research report on Tuesday, October 24th. They set a “buy” rating and a $17.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Achaogen in a research report on Thursday, November 9th. Finally, Stifel Nicolaus dropped their price target on shares of Achaogen from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $25.89.
Several hedge funds have recently made changes to their positions in AKAO. State Street Corp grew its holdings in shares of Achaogen by 302.6% in the second quarter. State Street Corp now owns 1,677,097 shares of the biopharmaceutical company’s stock valued at $36,444,000 after purchasing an additional 1,260,509 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Achaogen by 55.7% in the third quarter. Point72 Asset Management L.P. now owns 2,255,899 shares of the biopharmaceutical company’s stock valued at $35,982,000 after purchasing an additional 806,899 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of Achaogen by 106.7% in the second quarter. TimesSquare Capital Management LLC now owns 1,088,300 shares of the biopharmaceutical company’s stock valued at $23,649,000 after purchasing an additional 561,700 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Achaogen in the second quarter valued at approximately $8,692,000. Finally, Vanguard Group Inc. grew its holdings in shares of Achaogen by 32.2% in the second quarter. Vanguard Group Inc. now owns 1,410,129 shares of the biopharmaceutical company’s stock valued at $30,641,000 after purchasing an additional 343,428 shares in the last quarter. Hedge funds and other institutional investors own 85.74% of the company’s stock.
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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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