Achaogen, Inc. (AKAO) Cut to Hold at Zacks Investment Research
According to Zacks, “Achaogen, Inc. is a clinical-stage biopharmaceutical company. It is focused on the discovery, development, and commercialization of novel antibacterials to treat multi-drug resistant, or 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. Achaogen, Inc. is headquartered in South San Francisco, California. “
Several other research analysts have also commented on the stock. Leerink Swann assumed coverage on shares of Achaogen in a research note on Wednesday, January 4th. They set an outperform rating and a $21.00 price objective for the company. Wedbush reissued an outperform rating and set a $19.00 target price (up from $10.00) on shares of Achaogen in a research note on Thursday, December 15th. Cowen and Company reissued a buy rating on shares of Achaogen in a research note on Tuesday, December 13th. Needham & Company LLC raised shares of Achaogen from a hold rating to a buy rating and set a $19.00 target price for the company in a research note on Monday, December 12th. Finally, Aegis started coverage on shares of Achaogen in a research note on Wednesday, November 2nd. They set a buy rating and a $10.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $16.00.
Achaogen (NASDAQ:AKAO) opened at 15.90 on Tuesday. The company’s market capitalization is $436.47 million. The company has a 50 day moving average of $9.82 and a 200 day moving average of $5.59. Achaogen has a 52 week low of $2.59 and a 52 week high of $16.60.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.20. The company earned $16.05 million during the quarter, compared to analyst estimates of $8.72 million. Achaogen had a negative net margin of 147.80% and a negative return on equity of 143.44%. Achaogen’s quarterly revenue was up 258.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.48) earnings per share. On average, equities analysts forecast that Achaogen will post ($2.31) EPS for the current fiscal year.
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In other news, major shareholder Equity Opportunities Iv Growth acquired 500,000 shares of the firm’s stock in a transaction that occurred on Monday, December 19th. The stock was purchased at an average cost of $13.50 per share, for a total transaction of $6,750,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 13.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in AKAO. Polar Capital LLP increased its position in shares of Achaogen by 45.0% in the third quarter. Polar Capital LLP now owns 145,000 shares of the biopharmaceutical company’s stock worth $695,000 after buying an additional 45,000 shares in the last quarter. Baker BROS. Advisors LP purchased a new position in shares of Achaogen during the third quarter worth approximately $479,000. Sphera Funds Management LTD. purchased a new position in shares of Achaogen during the third quarter worth approximately $6,228,000. Spark Investment Management LLC increased its position in shares of Achaogen by 852.7% in the third quarter. Spark Investment Management LLC now owns 143,865 shares of the biopharmaceutical company’s stock worth $689,000 after buying an additional 128,765 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Achaogen by 52.6% in the third quarter. Northern Trust Corp now owns 23,346 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 8,046 shares in the last quarter. Institutional investors and hedge funds own 42.99% 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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