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. “
Achaogen, Inc. (NASDAQ:AKAO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, July 11th.
Several other equities research analysts also recently weighed in on the company. BidaskClub raised Achaogen from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. HC Wainwright assumed coverage on shares of Achaogen in a research note on Thursday, June 15th. They set a “buy” rating and a $29.00 target price on the stock. ValuEngine raised shares of Achaogen from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Cowen and Company reissued an “outperform” rating on shares of Achaogen in a research note on Monday, May 15th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $31.00 price target (up from $28.00) on shares of Achaogen in a research note on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $25.88.
Achaogen (NASDAQ:AKAO) traded down 1.27% during trading on Tuesday, hitting $18.73. The stock had a trading volume of 381,717 shares. The firm’s market cap is $671.53 million. Achaogen has a 52-week low of $3.65 and a 52-week high of $27.79. The company’s 50 day moving average is $21.83 and its 200 day moving average is $22.09.
Achaogen (NASDAQ:AKAO) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.60) by $0.18. The company 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 118.04% and a negative net margin of 281.88%. Achaogen’s revenue for the quarter was down 85.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.87) earnings per share. Equities research analysts forecast that Achaogen will post ($2.84) earnings per share for the current year.
In other news, CFO Tobin Schilke sold 2,066 shares of the firm’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is accessible through this link. 13.80% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in Achaogen by 64.4% in the first quarter. FMR LLC now owns 4,778,253 shares of the biopharmaceutical company’s stock valued at $120,556,000 after buying an additional 1,871,764 shares during the period. TimesSquare Capital Management LLC bought a new position in Achaogen during the first quarter valued at $13,286,000. Goldman Sachs Group Inc. bought a new position in Achaogen during the first quarter valued at $3,064,000. Candriam Luxembourg S.C.A. increased its position in Achaogen by 149.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 200,555 shares of the biopharmaceutical company’s stock valued at $4,358,000 after buying an additional 120,000 shares during the period. Finally, Spark Investment Management LLC increased its position in Achaogen by 112.7% in the first quarter. Spark Investment Management LLC now owns 212,100 shares of the biopharmaceutical company’s stock valued at $5,351,000 after buying an additional 112,400 shares during the period. 70.30% of the stock is owned by institutional investors.
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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