Achaogen, Inc. (AKAO) Given Consensus Rating of “Buy” by Analysts
Achaogen, Inc. (NASDAQ:AKAO) has been assigned an average recommendation of “Buy” from the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $27.68.
Several equities analysts have recently commented on the stock. BidaskClub raised shares of Achaogen from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 target price on shares of Achaogen in a research note on Friday, August 4th. HC Wainwright assumed coverage on Achaogen in a research note on Thursday, June 15th. They issued a “buy” rating and a $29.00 target price on the stock. Mizuho restated a “buy” rating and set a $28.00 price target on shares of Achaogen in a report on Thursday, September 28th. Finally, Zacks Investment Research upgraded Achaogen from a “sell” rating to a “hold” rating and set a $27.00 price target on the stock in a report on Monday, July 17th.
Shares of Achaogen (AKAO) opened at 15.50 on Wednesday. The firm’s market capitalization is $654.61 million. Achaogen has a 12-month low of $3.68 and a 12-month high of $27.79. The firm’s 50-day moving average price is $17.29 and its 200-day moving average price is $20.97.
Achaogen (NASDAQ:AKAO) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.18). The firm had revenue of $1.30 million for 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% on a year-over-year basis. During the same period in the previous year, the company earned ($0.87) EPS. Equities analysts predict that Achaogen will post ($3.01) earnings per share for the current fiscal year.
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In related news, COO Blake Wise sold 3,576 shares of the stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total value of $57,180.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.36% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Legal & General Group Plc bought a new position in Achaogen in the second quarter worth $168,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Achaogen during the 1st quarter valued at $199,000. Sigma Planning Corp boosted its holdings in shares of Achaogen by 9.6% during the 2nd quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock valued at $205,000 after buying an additional 825 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Achaogen by 33.3% during the 2nd quarter. Bank of Montreal Can now owns 10,000 shares of the biopharmaceutical company’s stock valued at $217,000 after buying an additional 2,500 shares in the last quarter. Finally, Ardsley Advisory Partners bought a new stake in shares of Achaogen during the 2nd quarter valued at $217,000. 84.15% of the stock is currently owned by institutional investors and hedge funds.
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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