Cowen and Company upgraded shares of Achaogen Inc. (NASDAQ:AKAO) from a market perform rating to an outperform rating in a research report released on Monday morning.
“AKAO moved up Plazomicin (Plz) pivotal Ph3 EPIC cUTI top-line and CARE trial data.”,” Cowen and Company’s analyst wrote.
A number of other research analysts have also recently commented on the company. Zacks Investment Research cut Achaogen from a buy rating to a hold rating in a research note on Thursday, August 11th. SunTrust Banks Inc. restated a buy rating and set a $10.00 price target on shares of Achaogen in a research note on Monday, September 26th. Wedbush restated an outperform rating and set a $10.00 price target on shares of Achaogen in a research note on Tuesday, September 27th. Needham & Company LLC restated a hold rating on shares of Achaogen in a research note on Tuesday, August 9th. Finally, Aegis initiated coverage on Achaogen in a research note on Wednesday, November 2nd. They set a buy rating and a $10.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $8.63.
Shares of Achaogen (NASDAQ:AKAO) opened at 5.08 on Monday. Achaogen has a 52-week low of $2.59 and a 52-week high of $6.18. The firm’s market cap is $139.45 million. The stock has a 50 day moving average price of $4.88 and a 200-day moving average price of $4.17.
Achaogen (NASDAQ:AKAO) last released its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $16.05 million for the quarter, compared to analysts’ expectations of $8.72 million. During the same period in the prior year, the firm posted ($0.48) earnings per share. The firm’s quarterly revenue was up 258.3% on a year-over-year basis. On average, equities analysts anticipate that Achaogen will post ($2.31) EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Northern Trust Corp raised its stake in Achaogen by 52.6% in the third quarter. Northern Trust Corp now owns 23,346 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 8,046 shares in the last quarter. ICONIQ Capital LLC raised its stake in Achaogen by 100.3% in the second quarter. ICONIQ Capital LLC now owns 28,629 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 14,333 shares in the last quarter. Redmile Group LLC bought a new stake in Achaogen during the third quarter worth $155,000. A.R.T. Advisors LLC bought a new stake in Achaogen during the second quarter worth $142,000. Finally, Eagle Global Advisors LLC raised its stake in Achaogen by 55.4% in the second quarter. Eagle Global Advisors LLC now owns 38,749 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 13,812 shares in the last quarter. 54.69% of the stock is currently owned by institutional investors and hedge funds.
Achaogen Company Profile