Achaogen Inc. (AKAO) Shares Down 4.4%
Achaogen Inc. (NASDAQ:AKAO) shares traded down 4.4% during mid-day trading on Friday . The company traded as low as $3.65 and last traded at $3.73, with a volume of 78,044 shares changing hands. The stock had previously closed at $3.90.
A number of research analysts have issued reports on the company. Zacks Investment Research cut Achaogen from a “buy” rating to a “hold” rating in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Achaogen in a research note on Tuesday, August 9th. Finally, Wedbush raised Achaogen from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $7.00 to $10.00 in a research note on Tuesday, June 14th.
The firm has a 50-day moving average of $3.81 and a 200-day moving average of $3.58. The stock’s market capitalization is $68.11 million.
Achaogen (NASDAQ:AKAO) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $0.20. The company earned $9.14 million during the quarter, compared to the consensus estimate of $5.58 million. During the same quarter last year, the business posted ($0.05) earnings per share. The firm’s quarterly revenue was down 24.1% compared to the same quarter last year. Equities analysts anticipate that Achaogen Inc. will post ($2.56) EPS for the current fiscal year.
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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