Achaogen Inc (NASDAQ:AKAO) had its target price raised by Stifel Nicolaus from $27.00 to $28.00 in a report released on Wednesday morning. They currently have a buy rating on the biopharmaceutical company’s stock.
Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Achaogen from a buy rating to a hold rating in a report on Wednesday, March 8th. Wedbush raised their price objective on shares of Achaogen from $23.00 to $28.00 and gave the company an outperform rating in a report on Monday, March 6th. Needham & Company LLC raised their price objective on shares of Achaogen from $19.00 to $29.00 and gave the company a buy rating in a report on Thursday, March 2nd. Vetr lowered shares of Achaogen from a strong-buy rating to a buy rating and set a $25.80 price objective for the company. in a report on Wednesday, February 22nd. Finally, Guggenheim reiterated a buy rating and issued a $30.00 price objective on shares of Achaogen in a report on Tuesday, January 24th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $25.98.
Achaogen (NASDAQ:AKAO) opened at 22.64 on Wednesday. Achaogen has a one year low of $2.59 and a one year high of $27.79. The firm’s market cap is $648.70 million. The company’s 50-day moving average is $21.99 and its 200-day moving average is $11.44.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Tuesday, March 14th. The biopharmaceutical company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by $0.55. Achaogen had a negative net margin of 147.80% and a negative return on equity of 143.44%. The company earned $10.73 million during the quarter, compared to analyst estimates of $13.33 million. During the same quarter in the previous year, the business posted ($0.61) earnings per share. The company’s revenue for the quarter was up 130.3% on a year-over-year basis. On average, analysts forecast that Achaogen will post ($2.25) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Artal Group S.A. purchased a new position in Achaogen during the fourth quarter valued at about $781,000. Opaleye Management Inc. purchased a new position in Achaogen during the fourth quarter valued at about $1,041,000. Paulson & CO. Inc. purchased a new position in Achaogen during the fourth quarter valued at about $944,000. Ellington Management Group LLC purchased a new position in Achaogen during the fourth quarter valued at about $391,000. Finally, Tudor Investment Corp Et Al purchased a new position in Achaogen during the fourth quarter valued at about $651,000. Hedge funds and other institutional investors own 44.47% of the company’s stock.
Achaogen Company Profile
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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