Achaogen Inc. (AKAO) Sees Unusually-High Trading Volume
Achaogen Inc. (NASDAQ:AKAO) saw an uptick in trading volume on Thursday . 126,732 shares changed hands during mid-day trading, an increase of 81% from the previous session’s volume of 70,130 shares.The stock last traded at $4.00 and had previously closed at $3.77.
Several research firms recently weighed in on AKAO. Zacks Investment Research upgraded Achaogen from a “sell” rating to a “hold” rating in a research note on Thursday, August 25th. Wedbush reiterated a “neutral” rating and set a $7.00 target price on shares of Achaogen in a research note on Friday, May 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Achaogen in a research note on Tuesday, August 9th.
The firm’s market cap is $106.45 million. The company’s 50 day moving average is $3.80 and its 200 day moving average is $3.59.
Achaogen (NASDAQ:AKAO) last announced 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 had revenue of $9.14 million for the quarter, compared to analyst estimates of $5.58 million. Achaogen’s revenue was down 24.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.05) earnings per share. Analysts anticipate 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).
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