Achaogen’s Lock-Up Period Will Expire on September 8th (NASDAQ:AKAO)
Achaogen’s (NASDAQ:AKAO) lock-up period is set to end on Monday, September 8th. Achaogen had issued 6,000,000 shares in its IPO on March 12th, AnalystRatings.NET reports. The total size of the offering was $72,000,000 based on an initial share price of $12.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.
Separately, analysts at Gabelli initiated coverage on shares of Achaogen in a research note on Friday, June 20th. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $22.50.
Shares of Achaogen (NASDAQ:AKAO) traded up 0.11% on Wednesday, hitting $9.04. The stock had a trading volume of 3,391 shares. Achaogen has a one year low of $8.64 and a one year high of $19.69. The stock’s 50-day moving average is $10.23 and its 200-day moving average is $13.22. The company’s market cap is $160.1 million.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.20) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.19) by $0.01. Analysts expect that Achaogen will post $-1.31 earnings per share for the current fiscal year.
Achaogen, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development, and commercialization of antibacterials to treat multi-drug resistant (NASDAQ:AKAO), gram-negative infections.
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