Zacks Investment Research lowered shares of Achaogen, Inc. (NASDAQ:AKAO) from a hold rating to a sell rating in a report released on Tuesday.
According to Zacks, “Achaogen, Inc. is a clinical-stage biopharmaceutical company. It is focused on the discovery, development, and commercialization of novel antibacterials to treat multi-drug resistant, or 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. Achaogen, Inc. is headquartered in South San Francisco, California. “
Several other research firms have also commented on AKAO. Stifel Nicolaus decreased their price target on shares of Achaogen from $30.00 to $27.00 and set a buy rating for the company in a report on Thursday, November 9th. Mizuho reaffirmed a buy rating and issued a $28.00 price target on shares of Achaogen in a report on Thursday, September 28th. BidaskClub lowered shares of Achaogen from a sell rating to a strong sell rating in a report on Saturday, August 12th. HC Wainwright reaffirmed a buy rating and issued a $25.00 price target on shares of Achaogen in a report on Thursday, November 9th. Finally, Guggenheim began coverage on shares of Achaogen in a report on Tuesday, October 24th. They issued a buy rating and a $17.00 price target for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $25.78.
Shares of Achaogen (NASDAQ AKAO) traded down $0.12 during mid-day trading on Tuesday, reaching $11.83. 737,894 shares of the company’s stock traded hands, compared to its average volume of 859,630. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.08. Achaogen has a 52 week low of $4.67 and a 52 week high of $27.79.
Achaogen (NASDAQ:AKAO) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.72) by ($0.13). The company had revenue of $0.58 million for the quarter, compared to analyst estimates of $2.09 million. Achaogen had a negative return on equity of 80.44% and a negative net margin of 593.61%. Achaogen’s revenue was down 96.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.41) earnings per share. equities analysts forecast that Achaogen will post -3.16 earnings per share for the current fiscal year.
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In related news, COO Blake Wise sold 3,576 shares of Achaogen stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total value of $57,180.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 8.36% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc bought a new stake in shares of Achaogen during the 2nd quarter worth about $168,000. Sigma Planning Corp raised its position in shares of Achaogen by 9.6% during the 2nd quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock worth $205,000 after buying an additional 825 shares in the last quarter. Bank of Montreal Can raised its position in shares of Achaogen by 33.3% during the 2nd quarter. Bank of Montreal Can now owns 10,000 shares of the biopharmaceutical company’s stock worth $217,000 after buying an additional 2,500 shares in the last quarter. Ardsley Advisory Partners bought a new stake in shares of Achaogen during the 2nd quarter worth about $217,000. Finally, JPMorgan Chase & Co. raised its position in shares of Achaogen by 691.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,077 shares of the biopharmaceutical company’s stock worth $240,000 after buying an additional 9,677 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.
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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