Achaogen Inc. (AKAO) Stock Price Up 2.4%
Achaogen Inc. (NASDAQ:AKAO) rose 2.4% during trading on Tuesday . The stock traded as high as $3.95 and last traded at $3.88, with a volume of 56,019 shares trading hands. The stock had previously closed at $3.79.
AKAO has been the subject of several analyst reports. Zacks Investment Research downgraded Achaogen from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Wedbush reaffirmed a “neutral” rating and set a $7.00 target price on shares of Achaogen in a report on Friday, May 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Achaogen in a report on Monday, May 9th.
The stock has a 50 day moving average of $3.82 and a 200 day moving average of $3.57. The firm’s market capitalization is $71.05 million.
Achaogen (NASDAQ:AKAO) last issued its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $0.20. The business earned $9.14 million during the quarter, compared to analysts’ expectations of $5.58 million. During the same period last year, the firm posted ($0.05) EPS. The business’s revenue was down 24.1% on a year-over-year basis. On average, analysts predict that Achaogen Inc. will post ($2.71) earnings per share for the current 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).