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

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

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

Several other analysts also recently weighed in on the stock. Aegis began coverage on shares of Achaogen in a research note on Wednesday, November 2nd. They issued a “buy” rating and a $10.00 price target for the company. SunTrust Banks Inc. reissued a “buy” rating and issued a $10.00 price target on shares of Achaogen in a research note on Monday, September 26th. Zacks Investment Research raised shares of Achaogen from a “sell” rating to a “hold” rating in a research note on Thursday, August 25th. Needham & Company LLC reissued a “hold” rating on shares of Achaogen in a research note on Tuesday, August 9th. Finally, Wedbush reissued an “outperform” rating and issued a $10.00 price target on shares of Achaogen in a research note on Tuesday, November 22nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $8.63.

Achaogen (NASDAQ:AKAO) opened at 5.10 on Monday. Achaogen has a 52 week low of $2.59 and a 52 week high of $6.18. The stock has a 50 day moving average price of $4.88 and a 200-day moving average price of $4.14. The company’s market capitalization is $140.00 million.

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

Several institutional investors have recently modified their holdings of AKAO. ICONIQ Capital LLC increased its position in shares of 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 period. Northern Trust Corp increased its position in shares of 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 period. A.R.T. Advisors LLC purchased a new position in shares of Achaogen during the second quarter valued at approximately $142,000. Eagle Global Advisors LLC increased its position in shares of 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 period. Finally, Redmile Group LLC purchased a new position in shares of Achaogen during the third quarter valued at approximately $155,000. 54.69% of the stock is owned by hedge funds and other institutional investors.

Achaogen Company Profile

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