Achaogen, Inc. (NASDAQ:AKAO) Receives Buy Rating from Stifel Nicolaus
Stifel Nicolaus restated their buy rating on shares of Achaogen, Inc. (NASDAQ:AKAO) in a report published on Friday morning. Stifel Nicolaus currently has a $30.00 price objective on the biopharmaceutical company’s stock.
Several other research analysts have also recently issued reports on AKAO. Wedbush reaffirmed an outperform rating and set a $28.00 price objective on shares of Achaogen in a research report on Monday, April 24th. Cowen and Company reaffirmed an outperform rating on shares of Achaogen in a research report on Friday, May 5th. ValuEngine raised Achaogen from a sell rating to a hold rating in a research report on Friday, June 2nd. HC Wainwright initiated coverage on Achaogen in a research report on Thursday, June 15th. They set a buy rating and a $29.00 price objective for the company. Finally, BidaskClub raised Achaogen from a hold rating to a buy rating in a research report on Saturday, July 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. Achaogen presently has an average rating of Buy and an average target price of $25.88.
Shares of Achaogen (AKAO) traded down 2.91% during midday trading on Friday, reaching $17.71. The company’s stock had a trading volume of 1,050,372 shares. The stock’s 50-day moving average price is $22.16 and its 200-day moving average price is $22.18. Achaogen has a 12-month low of $3.60 and a 12-month high of $27.79. The company’s market cap is $634.96 million.
Achaogen (NASDAQ:AKAO) last released its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by $0.18. The business had revenue of $1.30 million for the quarter, compared to analyst estimates of $2.69 million. Achaogen had a negative return on equity of 118.04% and a negative net margin of 281.88%. The company’s revenue was down 85.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.87) earnings per share. On average, analysts expect that Achaogen will post ($2.57) EPS for the current fiscal year.
In related news, CFO Tobin Schilke sold 2,066 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $21.53, for a total value of $44,480.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.80% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Sigma Planning Corp boosted its stake in shares of Achaogen by 9.6% in the second quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock worth $205,000 after buying an additional 825 shares during the period. Bank of Montreal Can boosted its stake in shares of Achaogen by 25.0% in the first quarter. Bank of Montreal Can now owns 7,500 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 1,500 shares during the period. First Midwest Bank Trust Division boosted its stake in shares of Achaogen by 17.9% in the second quarter. First Midwest Bank Trust Division now owns 20,388 shares of the biopharmaceutical company’s stock worth $443,000 after buying an additional 3,095 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Achaogen by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 113,783 shares of the biopharmaceutical company’s stock worth $2,871,000 after buying an additional 3,150 shares during the period. Finally, Essex Investment Management Co. LLC boosted its stake in shares of Achaogen by 14.4% in the second quarter. Essex Investment Management Co. LLC now owns 26,330 shares of the biopharmaceutical company’s stock worth $572,000 after buying an additional 3,319 shares during the period. 69.73% of the stock is owned by hedge funds and other institutional investors.
Achaogen Company Profile
Achaogen, Inc is a late-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections. The Company is involved in researching and developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections, including complicated urinary tract infection (cUTI), blood stream infections and other infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae (CRE).
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