“We are assuming coverage of AKAO with an Outperform.”,” Cowen and Company’s analyst wrote.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded Achaogen from a buy rating to a hold rating in a report on Wednesday, March 8th. Aegis downgraded Achaogen from a buy rating to a hold rating and set a $29.00 price objective for the company. in a report on Thursday, March 30th. Wedbush increased their target price on Achaogen from $23.00 to $28.00 and gave the stock an outperform rating in a research note on Monday, March 6th. Stifel Nicolaus increased their price objective on Achaogen from $27.00 to $28.00 and gave the company a buy rating in a research report on Wednesday, March 15th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $29.00 price objective on shares of Achaogen in a research report on Wednesday, March 15th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Achaogen has an average rating of Buy and an average target price of $25.20.
Achaogen (NASDAQ:AKAO) traded down 1.61% on Friday, hitting $25.07. 255,295 shares of the stock traded hands. Achaogen has a 1-year low of $2.69 and a 1-year high of $27.79. The company’s market cap is $898.83 million. The stock has a 50-day moving average price of $23.38 and a 200 day moving average price of $17.19.
Achaogen (NASDAQ:AKAO) last announced its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.93) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by $0.39. Achaogen had a negative net margin of 147.80% and a negative return on equity of 143.44%. The company had revenue of $7.46 million during the quarter, compared to the consensus estimate of $3.81 million. During the same quarter in the previous year, the firm posted ($0.66) EPS. The business’s revenue for the quarter was up 27.7% compared to the same quarter last year. On average, analysts anticipate that Achaogen will post ($2.76) EPS for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Achaogen by 64.4% in the first quarter. FMR LLC now owns 4,778,253 shares of the biopharmaceutical company’s stock valued at $120,556,000 after buying an additional 1,871,764 shares during the period. Foresite Capital Management III LLC purchased a new position in Achaogen during the fourth quarter valued at $33,956,000. Sphera Funds Management LTD. purchased a new position in Achaogen during the third quarter valued at $6,228,000. Vanguard Group Inc. boosted its position in Achaogen by 11.2% in the first quarter. Vanguard Group Inc. now owns 1,066,701 shares of the biopharmaceutical company’s stock valued at $26,913,000 after buying an additional 107,406 shares in the last quarter. Finally, TimesSquare Capital Management LLC purchased a new position in Achaogen during the first quarter valued at $13,286,000. 44.47% of the stock is currently owned by 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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