Leerink Swann restated their outperform rating on shares of Achaogen, Inc. (NASDAQ:AKAO) in a research note issued to investors on Monday morning, MarketBeat reports. The brokerage currently has a $22.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $28.00. Leerink Swann also issued estimates for Achaogen’s FY2019 earnings at ($1.93) EPS. The analysts noted that the move was a valuation call.
A number of other brokerages have also recently issued reports on AKAO. Zacks Investment Research upgraded shares of Achaogen from a sell rating to a hold rating and set a $27.00 price objective for the company in a report on Monday, July 17th. BidaskClub upgraded shares of Achaogen from a hold rating to a buy rating in a report on Saturday, July 8th. HC Wainwright began coverage on shares of Achaogen in a report on Thursday, June 15th. They set a buy rating and a $29.00 price objective for the company. Mizuho began coverage on shares of Achaogen in a report on Wednesday, September 6th. They set a buy rating and a $28.00 price objective for the company. Finally, Stifel Nicolaus reiterated a buy rating and set a $30.00 price objective on shares of Achaogen in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $27.78.
Achaogen (NASDAQ AKAO) opened at 13.39 on Monday. The firm’s market capitalization is $565.50 million. The company has a 50-day moving average of $16.55 and a 200-day moving average of $20.66. Achaogen has a 52 week low of $3.68 and a 52 week high of $27.79.
Achaogen (NASDAQ:AKAO) last issued its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.18). The business had revenue of $1.30 million for the quarter, compared to analyst estimates of $2.69 million. Achaogen had a negative net margin of 281.88% and a negative return on equity of 86.24%. The firm’s quarterly revenue was down 85.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.87) earnings per share. On average, equities analysts forecast that Achaogen will post ($3.01) earnings per share for the current fiscal year.
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In related news, COO Blake Wise sold 3,576 shares of the business’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total transaction of $57,180.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.36% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new position in Achaogen during the second quarter worth about $168,000. Oppenheimer Asset Management Inc. purchased a new position in Achaogen during the first quarter worth about $199,000. Sigma Planning Corp boosted its holdings in Achaogen by 9.6% during the second quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock worth $205,000 after purchasing an additional 825 shares during the last quarter. Bank of Montreal Can boosted its holdings in Achaogen by 33.3% during the second quarter. Bank of Montreal Can now owns 10,000 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Ardsley Advisory Partners purchased a new position in Achaogen during the second quarter worth about $217,000. Institutional investors and hedge funds own 84.15% 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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