Achaogen Inc (NASDAQ:AKAO) was the recipient of a significant decrease in short interest during the month of September. As of September 28th, there was short interest totalling 9,812,829 shares, a decrease of 17.2% from the September 14th total of 11,847,249 shares. Approximately 39.2% of the shares of the stock are sold short. Based on an average trading volume of 1,198,092 shares, the days-to-cover ratio is presently 8.2 days.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Achaogen by 2.1% during the 1st quarter. BlackRock Inc. now owns 2,898,459 shares of the biopharmaceutical company’s stock worth $37,536,000 after buying an additional 60,613 shares during the period. Granahan Investment Management Inc. MA acquired a new stake in shares of Achaogen during the 2nd quarter worth approximately $1,220,000. Teton Advisors Inc. grew its position in shares of Achaogen by 324.2% during the 2nd quarter. Teton Advisors Inc. now owns 140,000 shares of the biopharmaceutical company’s stock worth $1,212,000 after buying an additional 107,000 shares during the period. Gabelli Funds LLC grew its position in shares of Achaogen by 18.6% during the 2nd quarter. Gabelli Funds LLC now owns 206,400 shares of the biopharmaceutical company’s stock worth $1,787,000 after buying an additional 32,400 shares during the period. Finally, Iguana Healthcare Management LLC grew its position in shares of Achaogen by 33.3% during the 1st quarter. Iguana Healthcare Management LLC now owns 100,000 shares of the biopharmaceutical company’s stock worth $1,295,000 after buying an additional 25,000 shares during the period. 60.61% of the stock is owned by institutional investors.
A number of research analysts recently issued reports on AKAO shares. Cowen reiterated a “buy” rating on shares of Achaogen in a report on Friday, July 27th. BidaskClub raised shares of Achaogen from a “hold” rating to a “buy” rating in a research report on Monday, June 18th. Stifel Nicolaus increased their target price on shares of Achaogen from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, August 7th. Zacks Investment Research raised shares of Achaogen from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Finally, Wedbush decreased their target price on shares of Achaogen from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, June 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Achaogen presently has a consensus rating of “Buy” and a consensus price target of $17.03.
NASDAQ:AKAO opened at $3.84 on Friday. The company has a market cap of $180.39 million, a price-to-earnings ratio of -1.21 and a beta of 0.71. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.79 and a quick ratio of 3.79. Achaogen has a fifty-two week low of $3.81 and a fifty-two week high of $15.00.
Achaogen (NASDAQ:AKAO) last released its earnings results on Monday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.19). The firm had revenue of $2.56 million for the quarter, compared to analyst estimates of $1.49 million. Achaogen had a negative net margin of 2,286.21% and a negative return on equity of 146.50%. On average, sell-side analysts expect that Achaogen will post -3.78 EPS for the current year.
Achaogen, Inc, a late-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections in the United States. The company is principally developing plazomicin for the treatment of serious bacterial infections, including urinary tract infections, blood stream infections, and other infections due to MDR enterobacteriaceae comprising carbapenem-resistant enterobacteriaceae.
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