Achaogen Inc. (AKAO) Trading Up 4.8%
Shares of Achaogen Inc. (NASDAQ:AKAO) were up 4.8% during trading on Monday . The company traded as high as $3.90 and last traded at $3.90, with a volume of 61,765 shares. The stock had previously closed at $3.72.
A number of analysts have recently commented on AKAO shares. Zacks Investment Research upgraded Achaogen from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research note on Wednesday, July 6th. Needham & Company LLC restated a “hold” rating on shares of Achaogen in a research note on Tuesday, August 9th. Finally, Wedbush restated a “neutral” rating and issued a $7.00 target price on shares of Achaogen in a research note on Friday, May 6th.
The company has a 50 day moving average price of $3.80 and a 200 day moving average price of $3.58. The company’s market cap is $104.05 million.
Achaogen (NASDAQ:AKAO) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $0.20. During the same period in the previous year, the business posted ($0.05) EPS. The company earned $9.14 million during the quarter, compared to analysts’ expectations of $5.58 million. The company’s revenue for the quarter was down 24.1% compared to the same quarter last year. Analysts expect that Achaogen Inc. will post ($2.71) 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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