Achaogen Inc. (AKAO) Sees Strong Trading Volume
Achaogen Inc. (NASDAQ:AKAO) saw unusually-high trading volume on Thursday . Approximately 126,732 shares were traded 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.
AKAO has been the subject of several recent research reports. Zacks Investment Research raised Achaogen from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a report on Wednesday, July 6th. Needham & Company LLC reissued a “hold” rating on shares of Achaogen in a report on Tuesday, August 9th. Finally, Wedbush reissued a “neutral” rating and issued a $7.00 price objective on shares of Achaogen in a report on Friday, May 6th.
The company’s market capitalization is $113.39 million. The company has a 50-day moving average of $3.82 and a 200 day moving average of $3.59.
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. The business earned $9.14 million during the quarter, compared to analyst estimates of $5.58 million. During the same quarter last year, the business earned ($0.05) earnings per share. The company’s quarterly revenue was down 24.1% on a year-over-year basis. Analysts expect 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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