Achaogen, Inc. (AKAO) Stock Rating Lowered by BidaskClub
Achaogen, Inc. (NASDAQ:AKAO) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Saturday.
AKAO has been the topic of several other reports. Zacks Investment Research downgraded shares of Achaogen from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Wedbush reissued an “outperform” rating and set a $28.00 price target on shares of Achaogen in a research note on Monday, April 24th. HC Wainwright began coverage on shares of Achaogen in a research note on Thursday, June 15th. They set a “buy” rating and a $29.00 price target on the stock. ValuEngine raised shares of Achaogen from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Cowen and Company reissued an “outperform” rating on shares of Achaogen in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. Achaogen presently has an average rating of “Buy” and a consensus price target of $25.88.
Shares of Achaogen (NASDAQ AKAO) opened at 16.65 on Friday. Achaogen has a 12-month low of $3.68 and a 12-month high of $27.79. The company’s market capitalization is $703.18 million. The firm’s 50-day moving average is $21.17 and its 200-day moving average is $22.10.
Achaogen (NASDAQ:AKAO) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by $0.18. The company had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $2.69 million. Achaogen had a negative net margin of 281.88% and a negative return on equity of 86.24%. The company’s revenue for the quarter was down 85.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.87) earnings per share. On average, equities analysts predict that Achaogen will post ($3.00) EPS for the current year.
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In other news, CFO Tobin Schilke sold 2,066 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were 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 SEC, which is accessible through this link. 13.80% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. purchased a new position in shares of Achaogen during the first quarter valued at about $3,064,000. Hartwell J M Limited Partnership boosted its position in shares of Achaogen by 21.2% in the first quarter. Hartwell J M Limited Partnership now owns 20,000 shares of the biopharmaceutical company’s stock valued at $505,000 after buying an additional 3,500 shares in the last quarter. Sigma Planning Corp purchased a new position in shares of Achaogen during the first quarter valued at about $218,000. Iguana Healthcare Management LLC boosted its position in shares of Achaogen by 20.0% in the first quarter. Iguana Healthcare Management LLC now owns 60,000 shares of the biopharmaceutical company’s stock valued at $1,514,000 after buying an additional 10,000 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new position in shares of Achaogen during the first quarter valued at about $2,528,000. Hedge funds and other institutional investors own 70.30% of the company’s stock.
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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