Achaogen, Inc. (AKAO) Trading Down 1.4%
Achaogen, Inc. (NASDAQ:AKAO)’s share price dropped 1.4% during mid-day trading on Friday . The stock traded as low as $17.35 and last traded at $17.64. Approximately 166,553 shares were traded during trading, a decline of 77% from the average daily volume of 733,591 shares. The stock had previously closed at $17.39.
AKAO has been the topic of several recent analyst reports. BidaskClub downgraded shares of Achaogen from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research upgraded shares of Achaogen from a “sell” rating to a “hold” rating and set a $27.00 target price for the company in a research report on Monday, July 17th. Mizuho initiated coverage on shares of Achaogen in a research report on Wednesday. They issued a “buy” rating and a $28.00 target price for the company. ValuEngine upgraded shares of Achaogen from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Cowen and Company reiterated an “outperform” rating on shares of Achaogen in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $26.07.
The firm’s market capitalization is $739.08 million. The company’s 50 day moving average price is $18.75 and its 200 day moving average price is $22.07.
Achaogen (NASDAQ:AKAO) last released its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.60) by $0.18. The business had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $2.69 million. Achaogen had a negative return on equity of 86.24% and a negative net margin of 281.88%. Achaogen’s quarterly revenue was down 85.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.87) earnings per share. On average, equities analysts anticipate that Achaogen, Inc. will post ($3.00) EPS for the current fiscal year.
In other Achaogen news, CFO Tobin Schilke sold 2,066 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $21.53, for a total value of $44,480.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.80% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in AKAO. Bank of Montreal Can lifted its holdings in Achaogen by 25.0% in the 1st quarter. Bank of Montreal Can now owns 7,500 shares of the biopharmaceutical company’s stock valued at $189,000 after purchasing an additional 1,500 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Achaogen by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 113,783 shares of the biopharmaceutical company’s stock valued at $2,871,000 after purchasing an additional 3,150 shares in the last quarter. TD Asset Management Inc. purchased a new position in Achaogen in the 1st quarter valued at about $1,217,000. Parametric Portfolio Associates LLC lifted its holdings in Achaogen by 119.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 51,359 shares of the biopharmaceutical company’s stock valued at $1,296,000 after purchasing an additional 27,914 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Achaogen in the 1st quarter valued at about $1,114,000. Institutional investors own 84.12% of the company’s stock.
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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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