Achaogen Inc. (AKAO) Shares Down 4.1%
Achaogen Inc. (NASDAQ:AKAO)’s share price was down 4.1% on Tuesday . The company traded as low as $3.53 and last traded at $3.55, with a volume of 103,848 shares changing hands. The stock had previously closed at $3.70.
A number of equities analysts recently weighed in on AKAO shares. Zacks Investment Research upgraded shares of Achaogen from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research report on Wednesday, July 6th. Needham & Company LLC reiterated a “hold” rating on shares of Achaogen in a research report on Monday, May 9th. Cowen and Company lowered shares of Achaogen from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 31st. Finally, Wedbush reiterated a “neutral” rating and issued a $7.00 price objective on shares of Achaogen in a research report on Friday, May 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $10.63.
The company’s market cap is $64.98 million. The company has a 50 day moving average of $3.94 and a 200 day moving average of $3.69.
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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