Achaogen Inc. (AKAO) Trading Down 5.1%
Achaogen Inc. (NASDAQ:AKAO) fell 5.1% during trading on Monday . The company traded as low as $3.72 and last traded at $3.73, with a volume of 60,619 shares traded. The stock had previously closed at $3.93.
A number of research firms recently issued reports on AKAO. Wedbush reissued a “neutral” rating and issued a $7.00 price target on shares of Achaogen in a research note on Friday, May 6th. Zacks Investment Research raised shares of Achaogen from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Wednesday, July 6th. Needham & Company LLC reissued a “hold” rating on shares of Achaogen in a research note on Monday, May 9th. Finally, Cowen and Company cut 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’s stock. Achaogen currently has an average rating of “Buy” and an average price target of $10.63.
The stock’s market cap is $69.03 million. The firm’s 50-day moving average price is $3.99 and its 200 day moving average price is $3.68.
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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