Achaogen Inc. (AKAO) Sees Strong Trading Volume
Achaogen Inc. (NASDAQ:AKAO) saw an uptick in trading volume on Friday . 144,490 shares were traded during mid-day 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.
Several research firms have commented on AKAO. Zacks Investment Research upgraded Achaogen from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research report on Wednesday, July 6th. Wedbush upgraded Achaogen from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $7.00 to $10.00 in a research report on Tuesday, June 14th. Needham & Company LLC restated a “hold” rating on shares of Achaogen in a research report on Monday, May 9th. Finally, Cowen and Company lowered Achaogen from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Achaogen presently has a consensus rating of “Buy” and a consensus target price of $10.63.
The firm’s market cap is $65.72 million. The stock’s 50-day moving average price is $3.94 and its 200 day moving average price is $3.74.
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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