Todays Report: Today: Achaogen Inc. (AKAO) Upgraded to Outperform at Cowen and Company

Today: Achaogen Inc. (AKAO) Upgraded to Outperform at Cowen and Company

Achaogen Inc. (NASDAQ:AKAO) was upgraded by analysts at Cowen and Company from a “market perform” rating to an “outperform” rating in a report released on Monday.

The analysts wrote, “AKAO moved up Plazomicin (Plz) pivotal Ph3 EPIC cUTI top-line and CARE trial data.””

A number of other research firms also recently commented on AKAO. Wedbush restated an “outperform” rating and issued a $10.00 target price on shares of Achaogen in a research report on Tuesday, November 22nd. Aegis began coverage on Achaogen in a research note on Wednesday, November 2nd. They issued a “buy” rating and a $10.00 price objective for the company. SunTrust Banks Inc. reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Achaogen in a research note on Monday, September 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Achaogen in a research note on Tuesday, August 9th. Finally, Zacks Investment Research cut Achaogen from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $8.63.

Achaogen (NASDAQ:AKAO) traded down 0.39% during midday trading on Monday, reaching $5.08. The company’s stock had a trading volume of 1,161,448 shares. The stock’s 50-day moving average price is $4.88 and its 200 day moving average price is $4.14. The firm’s market capitalization is $139.45 million. Achaogen has a 1-year low of $2.59 and a 1-year high of $6.18.

Achaogen (NASDAQ:AKAO) last posted its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.41) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.61) by $0.20. Achaogen had a negative return on equity of 143.44% and a negative net margin of 147.80%. The company had revenue of $16.05 million for the quarter, compared to the consensus estimate of $8.72 million. During the same quarter in the previous year, the business earned ($0.48) earnings per share. The company’s revenue for the quarter was up 258.3% on a year-over-year basis. Equities analysts anticipate that Achaogen will post ($2.31) EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Polar Capital LLP boosted its position in Achaogen by 45.0% in the third quarter. Polar Capital LLP now owns 145,000 shares of the biopharmaceutical company’s stock valued at $695,000 after buying an additional 45,000 shares during the last quarter. Sphera Funds Management LTD. bought a new position in Achaogen during the third quarter valued at approximately $6,228,000. Spark Investment Management LLC boosted its position in Achaogen by 852.7% in the third quarter. Spark Investment Management LLC now owns 143,865 shares of the biopharmaceutical company’s stock valued at $689,000 after buying an additional 128,765 shares during the last quarter. Northern Trust Corp boosted 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. Finally, Point72 Asset Management L.P. boosted its position in Achaogen by 241.4% in the second quarter. Point72 Asset Management L.P. now owns 890,000 shares of the biopharmaceutical company’s stock valued at $3,373,000 after buying an additional 629,309 shares during the last quarter. 54.69% of the stock is owned by hedge funds and other institutional investors.

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