Achaogen Inc. (AKAO) Sees Unusually-High Trading Volume
Shares of Achaogen Inc. (NASDAQ:AKAO) saw unusually-strong trading volume on Friday . Approximately 144,490 shares changed hands during trading, a decline of 19% from the previous session’s volume of 178,824 shares.The stock last traded at $3.56 and had previously closed at $3.63.
A number of research analysts recently issued reports on the company. Wedbush reaffirmed a “neutral” rating and issued a $7.00 price target on shares of Achaogen in a report on Friday, May 6th. Needham & Company LLC reiterated a “hold” rating on shares of Achaogen in a research report on Monday, May 9th. Cowen and Company lowered Achaogen from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 31st. Finally, Zacks Investment Research upgraded Achaogen from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Wednesday, July 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Achaogen has an average rating of “Buy” and an average target price of $10.63.
The stock’s market capitalization is $65.72 million. The company has a 50 day moving average price of $3.92 and a 200 day moving average price of $3.75.
Achaogen, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterials to treat multi-drug resistant (MDR) gram-negative infections. The Company is developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections due to MDR Enterobacteriaceae, including carbapenem-resistant enterobacteriaceae (CRE).
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