Achaogen Inc. (AKAO) Trading Down 6.4%
Shares of Achaogen Inc. (NASDAQ:AKAO) traded down 6.4% during mid-day trading on Monday . The stock traded as low as $3.68 and last traded at $3.68, with a volume of 61,924 shares changing hands. The stock had previously closed at $3.93.
Several analysts have recently issued reports on the company. Wedbush restated a “neutral” rating and issued a $7.00 price objective on shares of Achaogen in a research report on Friday, May 6th. Zacks Investment Research upgraded 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Achaogen in a research report on Monday, May 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $10.63.
The firm has a 50-day moving average of $3.94 and a 200-day moving average of $3.59. The firm’s market cap is $66.27 million.
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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