Achaogen Inc. (AKAO) Trading Up 3.5%
Achaogen Inc. (NASDAQ:AKAO)’s share price was up 3.5% on Tuesday . The company traded as high as $4.24 and last traded at $4.19, with a volume of 76,864 shares changing hands. The stock had previously closed at $4.05.
A number of equities analysts have weighed in on AKAO shares. Wedbush raised shares of Achaogen from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $7.00 to $10.00 in a research report on Tuesday, June 14th. Zacks Investment Research raised shares of Achaogen from a “sell” rating to a “hold” rating in a research report on Thursday, August 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Achaogen in a research report on Tuesday, August 9th.
The company has a 50-day moving average of $4.01 and a 200 day moving average of $3.65. The company’s market cap is $110.98 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 analysts’ consensus estimates of ($0.67) by $0.20. Achaogen had a negative return on equity of 118.45% and a negative net margin of 209.23%. The company earned $9.14 million during the quarter, compared to analysts’ expectations of $5.58 million. During the same quarter in the previous year, the company earned ($0.05) EPS. The firm’s quarterly revenue was down 24.1% compared to the same quarter last year. Equities analysts forecast that Achaogen Inc. will post ($2.71) EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the company. NEA Management Company LLC bought a new stake in Achaogen during the second quarter worth about $17,870,000. Point72 Asset Management L.P. increased its stake in Achaogen by 241.4% in the second quarter. Point72 Asset Management L.P. now owns 890,000 shares of the biopharmaceutical company’s stock worth $3,373,000 after buying an additional 629,309 shares during the last quarter. Opaleye Management Inc. acquired a new position in Achaogen during the first quarter worth $704,000. Polar Capital LLP acquired a new position in Achaogen during the second quarter worth $379,000. Finally, Renaissance Technologies LLC increased its position in Achaogen by 174.0% in the first quarter. Renaissance Technologies LLC now owns 64,400 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 40,900 shares in the last quarter. Institutional investors own 56.84% of the company’s stock.
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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