Achaogen, Inc. (AKAO) Given Average Recommendation of “Buy” by Brokerages
Shares of Achaogen, Inc. (NASDAQ:AKAO) have been assigned an average recommendation of “Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $26.07.
AKAO has been the topic of a number of research reports. BidaskClub upgraded shares of Achaogen from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd. Cowen and Company reiterated an “outperform” rating on shares of Achaogen in a report on Monday, May 15th. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 target price on shares of Achaogen in a report on Friday, August 4th. ValuEngine upgraded shares of Achaogen from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, HC Wainwright initiated coverage on shares of Achaogen in a report on Thursday, June 15th. They issued a “buy” rating and a $29.00 target price on the stock.
Achaogen (AKAO) opened at 17.50 on Friday. The firm has a 50-day moving average of $18.61 and a 200-day moving average of $22.04. Achaogen has a one year low of $3.68 and a one year high of $27.79. The stock’s market capitalization is $739.08 million.
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 analysts’ consensus estimates of ($0.60) by $0.18. The company had revenue of $1.30 million during the quarter, compared to analyst estimates of $2.69 million. Achaogen had a negative return on equity of 86.24% and a negative net margin of 281.88%. The company’s revenue was down 85.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.87) earnings per share. On average, equities research analysts forecast that Achaogen will post ($3.00) earnings per share for the current year.
In other news, CFO Tobin Schilke sold 2,066 shares of the business’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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. 13.80% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in AKAO. FMR LLC raised its holdings in shares of Achaogen by 64.4% during the first quarter. FMR LLC now owns 4,778,253 shares of the biopharmaceutical company’s stock valued at $120,556,000 after acquiring an additional 1,871,764 shares during the period. State Street Corp raised its holdings in shares of Achaogen by 302.6% during the second quarter. State Street Corp now owns 1,677,097 shares of the biopharmaceutical company’s stock valued at $36,444,000 after acquiring an additional 1,260,509 shares during the period. TimesSquare Capital Management LLC raised its holdings in shares of Achaogen by 106.7% during the second quarter. TimesSquare Capital Management LLC now owns 1,088,300 shares of the biopharmaceutical company’s stock valued at $23,649,000 after acquiring an additional 561,700 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Achaogen during the second quarter valued at approximately $8,692,000. Finally, Vanguard Group Inc. raised its holdings in shares of Achaogen by 32.2% during the second quarter. Vanguard Group Inc. now owns 1,410,129 shares of the biopharmaceutical company’s stock valued at $30,641,000 after acquiring an additional 343,428 shares during the period. Institutional investors and hedge funds own 84.12% of the company’s stock.
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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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