Achaogen, Inc. (AKAO) Stock Price Down 9%

Achaogen, Inc. (NASDAQ:AKAO) dropped 9% during mid-day trading on Monday . The company traded as low as $13.86 and last traded at $13.88. Approximately 1,655,104 shares changed hands during mid-day trading, an increase of 154% from the average daily volume of 650,617 shares. The stock had previously closed at $15.26.

AKAO has been the topic of a number of recent research reports. Mizuho initiated coverage on Achaogen in a research note on Wednesday, September 6th. They issued a “buy” rating and a $28.00 target price on the stock. Zacks Investment Research lowered Achaogen from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. HC Wainwright began coverage on Achaogen in a research note on Thursday, June 15th. They set a “buy” rating and a $29.00 price target on the stock. Leerink Swann reissued an “outperform” rating and set a $22.00 price target (down previously from $28.00) on shares of Achaogen in a research note on Monday. They noted that the move was a valuation call. Finally, BidaskClub lowered Achaogen from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $27.78.

The stock’s market capitalization is $593.37 million. The company has a 50 day moving average price of $16.84 and a 200-day moving average price of $20.76.

Achaogen (NASDAQ:AKAO) last issued its earnings results 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 company 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 company’s quarterly revenue was down 85.7% on a year-over-year basis. During the same period last year, the business earned ($0.87) EPS. Analysts predict that Achaogen, Inc. will post ($3.01) earnings per share for the current year.

In related news, COO Blake Wise sold 3,576 shares of Achaogen stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total value of $57,180.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.36% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new position in Achaogen in the 1st quarter worth $3,064,000. Marcus Capital LLC bought a new position in Achaogen in the 2nd quarter worth $1,769,000. TimesSquare Capital Management LLC raised its holdings in Achaogen by 106.7% in the 2nd quarter. TimesSquare Capital Management LLC now owns 1,088,300 shares of the biopharmaceutical company’s stock worth $23,649,000 after acquiring an additional 561,700 shares during the period. Artal Group S.A. raised its holdings in Achaogen by 233.3% in the 2nd quarter. Artal Group S.A. now owns 200,000 shares of the biopharmaceutical company’s stock worth $4,346,000 after acquiring an additional 140,000 shares during the period. Finally, Blair William & Co. IL bought a new position in Achaogen in the 2nd quarter worth $1,022,000. Hedge funds and other institutional investors own 84.15% of the company’s stock.

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About Achaogen

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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