Achaogen, Inc. (NASDAQ:AKAO) Receives Average Recommendation of “Buy” from Brokerages
Shares of Achaogen, Inc. (NASDAQ:AKAO) have been assigned an average rating of “Buy” from the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $25.98.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Achaogen from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Wedbush restated an “outperform” rating and set a $28.00 target price on shares of Achaogen in a research report on Monday, April 24th. HC Wainwright initiated coverage on Achaogen in a research report on Thursday, June 15th. They set a “buy” rating and a $29.00 target price for the company. ValuEngine upgraded Achaogen from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Cowen and Company reiterated an “outperform” rating on shares of Achaogen in a report on Friday, May 5th.
In other Achaogen news, CFO Tobin Schilke sold 2,066 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $21.53, for a total transaction of $44,480.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its position in 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 during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Achaogen during the first quarter worth approximately $199,000. Sigma Planning Corp acquired a new position in Achaogen during the first quarter worth approximately $218,000. Fox Run Management L.L.C. acquired a new position in Achaogen during the first quarter worth approximately $240,000. Finally, Beacon Financial Group acquired a new position in Achaogen during the first quarter worth approximately $251,000. 69.75% of the stock is owned by institutional investors and hedge funds.
Shares of Achaogen (AKAO) opened at 22.31 on Friday. The stock’s 50 day moving average price is $22.63 and its 200-day moving average price is $21.87. The company’s market cap is $799.88 million. Achaogen has a 52 week low of $3.55 and a 52 week high of $27.79.
Achaogen (NASDAQ:AKAO) last issued its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.93) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.54) by $0.39. The business had revenue of $7.46 million for the quarter, compared to the consensus estimate of $3.81 million. Achaogen had a negative return on equity of 119.78% and a negative net margin of 212.71%. The business’s revenue was up 27.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.66) earnings per share. Analysts expect that Achaogen will post ($2.63) EPS for the current year.
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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