Achaogen Inc (NASDAQ:AKAO) had its target price hoisted by equities researchers at Stifel Nicolaus from $27.00 to $28.00 in a research report issued on Wednesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 10.89% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Achaogen from a “buy” rating to a “hold” rating in a research report on Wednesday, March 8th. Wedbush upped their target price on Achaogen from $23.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, March 6th. Needham & Company LLC upped their target price on Achaogen from $19.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Aegis upped their target price on Achaogen from $20.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Finally, Vetr downgraded Achaogen from a “strong-buy” rating to a “buy” rating and set a $25.80 target price for the company. in a research report on Wednesday, February 22nd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $24.87.
Achaogen (NASDAQ:AKAO) opened at 25.25 on Wednesday. The stock’s market cap is $693.14 million. The firm’s 50-day moving average price is $21.50 and its 200 day moving average price is $11.14. Achaogen has a 52-week low of $2.59 and a 52-week high of $27.79.
Achaogen (NASDAQ:AKAO) last issued its quarterly earnings data on Tuesday, March 14th. The biopharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by $0.55. The business had revenue of $10.73 million for the quarter, compared to analyst estimates of $13.33 million. Achaogen had a negative return on equity of 143.44% and a negative net margin of 147.80%. The business’s quarterly revenue was up 130.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.61) earnings per share. Equities analysts predict that Achaogen will post ($2.34) earnings per share for the current year.
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In other news, major shareholder Equity Opportunities Iv Growth bought 500,000 shares of the business’s stock in a transaction on Monday, December 19th. The stock was purchased at an average cost of $13.50 per share, for a total transaction of $6,750,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 4,383 shares of company stock valued at $73,547 over the last 90 days. 13.80% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in AKAO. Spark Investment Management LLC increased its stake in shares of Achaogen by 852.7% in the third quarter. Spark Investment Management LLC now owns 143,865 shares of the biopharmaceutical company’s stock worth $689,000 after buying an additional 128,765 shares during the period. Sphera Funds Management LTD. bought a new stake in shares of Achaogen during the third quarter worth approximately $6,228,000. Polar Capital LLP increased its stake in shares of Achaogen by 45.0% in the third quarter. Polar Capital LLP now owns 145,000 shares of the biopharmaceutical company’s stock worth $695,000 after buying an additional 45,000 shares during the period. Baker BROS. Advisors LP bought a new stake in shares of Achaogen during the third quarter worth approximately $479,000. Finally, Redmile Group LLC bought a new stake in shares of Achaogen during the third quarter worth approximately $155,000. Institutional investors own 44.47% of the company’s stock.
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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