Wedbush restated their outperform rating on shares of Achaogen Inc (NASDAQ:AKAO) in a research report sent to investors on Wednesday morning. They currently have a $28.00 target price on the biopharmaceutical company’s stock.

A number of other equities analysts also recently issued reports on AKAO. Needham & Company LLC reiterated a buy rating and set a $29.00 price target on shares of Achaogen in a research report on Wednesday, March 15th. Zacks Investment Research downgraded Achaogen from a buy rating to a hold rating in a research report on Wednesday, March 8th. Stifel Nicolaus increased their price target on Achaogen from $27.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday, March 15th. Aegis increased their price target on Achaogen from $20.00 to $29.00 and gave the stock a buy rating in a research report on Thursday, February 23rd. Finally, Cowen and Company reiterated a buy rating on shares of Achaogen in a research report on Tuesday, December 13th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $25.98.

Analyst Recommendations for Achaogen (NASDAQ:AKAO)

Achaogen (NASDAQ:AKAO) opened at 22.64 on Wednesday. The stock’s market cap is $648.70 million. The stock has a 50 day moving average price of $21.99 and a 200-day moving average price of $11.44. Achaogen has a one year low of $2.59 and a one year high of $27.79.

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Achaogen (NASDAQ:AKAO) last issued its quarterly earnings results on Tuesday, March 14th. The biopharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by $0.55. The business had revenue of $10.73 million for the quarter, compared to analysts’ expectations of $13.33 million. Achaogen had a negative return on equity of 143.44% and a negative net margin of 147.80%. The business’s revenue for the quarter was up 130.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.61) EPS. Equities research analysts expect that Achaogen will post ($2.25) earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the company. FNY Partners Fund LP acquired a new position in shares of Achaogen during the fourth quarter worth about $158,000. State Street Corp purchased a new position in shares of Achaogen during the fourth quarter worth approximately $242,000. Ellington Management Group LLC purchased a new position in shares of Achaogen during the fourth quarter worth approximately $391,000. Redmile Group LLC purchased a new position in shares of Achaogen during the third quarter worth approximately $155,000. Finally, Hatteras Funds LP purchased a new position in shares of Achaogen during the fourth quarter worth approximately $488,000. Institutional investors own 44.47% of the company’s stock.

Achaogen Company Profile

Achaogen, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterials to treat multi-drug resistant (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 (CRE).

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