Trade Report: Today, Achaogen Inc. (AKAO) Receives Outperform Rating from Wedbush

Today, Achaogen Inc. (AKAO) Receives Outperform Rating from Wedbush

Achaogen Inc. (NASDAQ:AKAO)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a report released on Tuesday. They currently have a $10.00 target price on the biopharmaceutical company’s stock. Wedbush’s target price would indicate a potential upside of 96.08% from the stock’s current price.

AKAO has been the subject of several other reports. Zacks Investment Research cut Achaogen from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. SunTrust Banks Inc. reissued a “buy” rating and set a $10.00 price objective on shares of Achaogen in a report on Monday, September 26th. Needham & Company LLC reissued a “hold” rating on shares of Achaogen in a report on Tuesday, August 9th. Finally, Aegis assumed coverage on Achaogen in a report on Wednesday, November 2nd. They set a “buy” rating and a $10.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Achaogen currently has an average rating of “Buy” and a consensus price target of $8.63.

Shares of Achaogen (NASDAQ:AKAO) traded up 3.45% during trading on Tuesday, reaching $5.10. 78,626 shares of the company traded hands. The stock’s 50 day moving average price is $4.88 and its 200-day moving average price is $4.14. The stock’s market cap is $140.00 million. Achaogen has a 12 month low of $2.59 and a 12 month high of $6.18.

Achaogen (NASDAQ:AKAO) last announced its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.20. The firm earned $16.05 million during the quarter, compared to analysts’ expectations of $8.72 million. Achaogen had a negative return on equity of 143.44% and a negative net margin of 147.80%. The company’s quarterly revenue was up 258.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.48) EPS. On average, equities research analysts expect that Achaogen will post ($2.31) EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of AKAO. ICONIQ Capital LLC raised its position in Achaogen by 100.3% in the second quarter. ICONIQ Capital LLC now owns 28,629 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 14,333 shares during the last quarter. Northern Trust Corp raised its position in Achaogen by 52.6% in the third quarter. Northern Trust Corp now owns 23,346 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 8,046 shares during the last quarter. A.R.T. Advisors LLC bought a new position in Achaogen during the second quarter valued at about $142,000. Eagle Global Advisors LLC raised its position in Achaogen by 55.4% in the second quarter. Eagle Global Advisors LLC now owns 38,749 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 13,812 shares during the last quarter. Finally, Redmile Group LLC bought a new position in Achaogen during the third quarter valued at about $155,000. Institutional investors own 55.96% of the company’s stock.

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