Achaogen Inc. (AKAO) Trading Up 2.4%
Achaogen Inc. (NASDAQ:AKAO)’s share price was up 2.4% during mid-day trading on Tuesday . The stock traded as high as $3.95 and last traded at $3.88, with a volume of 56,019 shares changing hands. The stock had previously closed at $3.79.
Several equities analysts have issued reports on AKAO shares. Needham & Company LLC reissued a “hold” rating on shares of Achaogen in a research note on Monday, May 9th. Zacks Investment Research raised shares of Achaogen from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research note on Wednesday, July 6th. Finally, Wedbush raised shares of Achaogen from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $7.00 to $10.00 in a research note on Tuesday, June 14th.
The company’s market cap is $102.18 million. The company has a 50 day moving average of $3.82 and a 200 day moving average of $3.58.
Achaogen (NASDAQ:AKAO) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $0.20. During the same period in the prior year, the business posted ($0.05) EPS. The firm earned $9.14 million during the quarter, compared to the consensus estimate of $5.58 million. The company’s revenue was down 24.1% on a year-over-year basis. Equities research analysts predict that Achaogen Inc. will post ($2.71) earnings per share 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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