Achaogen Inc. (AKAO) Shares Down 4.4%
Achaogen Inc. (NASDAQ:AKAO) shares fell 4.4% during trading on Tuesday . The company traded as low as $3.67 and last traded at $3.70, with a volume of 168,540 shares trading hands. The stock had previously closed at $3.87.
A number of research firms have recently commented on AKAO. Zacks Investment Research raised shares of Achaogen from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research note on Wednesday, July 6th. 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 note on Tuesday, June 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Achaogen in a research note on Monday, May 9th. Finally, Cowen and Company downgraded shares of Achaogen from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 31st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $10.63.
The firm’s market capitalization is $68.85 million. The stock has a 50 day moving average price of $3.84 and a 200-day moving average price of $3.75.
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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