Achaogen Inc. (AKAO) Shares Up 6.5%
Shares of Achaogen Inc. (NASDAQ:AKAO) shot up 6.5% during mid-day trading on Monday . The company traded as high as $4.33 and last traded at $4.25, with a volume of 277,400 shares. The stock had previously closed at $3.99.
Several research firms have issued reports on AKAO. Zacks Investment Research raised shares of Achaogen from a “sell” rating to a “hold” rating in a report on Thursday, August 25th. Wedbush raised shares of Achaogen from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $7.00 to $10.00 in a report on Tuesday, June 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Achaogen in a report on Tuesday, August 9th.
The stock’s 50-day moving average is $3.82 and its 200-day moving average is $3.59. The company’s market cap is $113.39 million.
Achaogen (NASDAQ:AKAO) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by $0.20. The firm had revenue of $9.14 million for the quarter, compared to analyst estimates of $5.58 million. Achaogen’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) earnings per share. On average, analysts predict that Achaogen Inc. will post ($2.71) EPS for the current year.
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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.