Achaogen, Inc. (AKAO) Given Average Rating of “Buy” by Brokerages
Achaogen, Inc. (NASDAQ:AKAO) has received an average recommendation of “Buy” from the thirteen research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $25.88.
A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of Achaogen from a “sell” rating to a “strong sell” rating in a research note on Saturday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 price target on shares of Achaogen in a research note on Friday, August 4th. ValuEngine raised shares of Achaogen from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Achaogen from a “sell” rating to a “hold” rating and set a $27.00 price target on the stock in a research note on Monday, July 17th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Achaogen in a research note on Monday, April 24th.
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In other Achaogen 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 value of $44,480.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 13.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake 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 worth $36,444,000 after buying an additional 1,260,509 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in shares of Achaogen by 349.8% in the second quarter. Tudor Investment Corp ET AL now owns 163,968 shares of the biopharmaceutical company’s stock worth $3,563,000 after buying an additional 127,518 shares in the last quarter. UBS Oconnor LLC purchased a new stake in shares of Achaogen during the second quarter worth about $1,710,000. Farallon Capital Management LLC increased its stake in shares of Achaogen by 16.0% in the second quarter. Farallon Capital Management LLC now owns 948,500 shares of the biopharmaceutical company’s stock worth $20,611,000 after buying an additional 131,000 shares in the last quarter. Finally, Voya Investment Management LLC purchased a new stake in shares of Achaogen during the second quarter worth about $295,000. 68.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Achaogen (NASDAQ AKAO) opened at 16.32 on Tuesday. The company has a 50 day moving average price of $21.00 and a 200-day moving average price of $22.16. The stock’s market capitalization is $689.24 million. Achaogen has a 52-week low of $3.65 and a 52-week high of $27.79.
Achaogen (NASDAQ:AKAO) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.60) by $0.18. The company had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $2.69 million. Achaogen had a negative net margin of 281.88% and a negative return on equity of 86.24%. The company’s quarterly revenue was down 85.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.87) earnings per share. On average, analysts predict that Achaogen will post ($3.00) earnings per share for the current fiscal year.
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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