Achaogen, Inc. (NASDAQ:AKAO) Lowered to Sell at BidaskClub

BidaskClub lowered shares of Achaogen, Inc. (NASDAQ:AKAO) from a hold rating to a sell rating in a research note issued to investors on Monday, July 31st.

AKAO has been the subject of a number of other reports. Zacks Investment Research cut Achaogen from a hold rating to a sell rating in a research note on Tuesday, July 11th. Wedbush reiterated an outperform rating and issued a $28.00 price target on shares of Achaogen in a research note on Monday, April 24th. HC Wainwright began coverage on Achaogen in a research note on Thursday, June 15th. They issued a buy rating and a $29.00 price target for the company. ValuEngine upgraded Achaogen from a sell rating to a hold rating in a report on Friday, June 2nd. Finally, Cowen and Company restated an outperform rating on shares of Achaogen in a report on Friday, May 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $25.88.

Achaogen (NASDAQ AKAO) traded down 0.24% during midday trading on Monday, hitting $16.65. The stock had a trading volume of 638,947 shares. The company has a 50-day moving average of $21.17 and a 200-day moving average of $22.10. The stock’s market cap is $703.18 million. Achaogen has a 1-year low of $3.68 and a 1-year high of $27.79.

Achaogen (NASDAQ:AKAO) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.60) by $0.18. Achaogen had a negative net margin of 281.88% and a negative return on equity of 86.24%. The firm had revenue of $1.30 million during the quarter, compared to the consensus estimate of $2.69 million. During the same quarter in the previous year, the company posted ($0.87) earnings per share. The firm’s revenue was down 85.7% on a year-over-year basis. Equities research analysts forecast that Achaogen will post ($3.00) EPS for the current year.

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In other Achaogen news, CFO Tobin Schilke sold 2,066 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $21.53, for a total transaction of $44,480.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 13.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of AKAO. Renaissance Technologies LLC increased its stake in shares of Achaogen by 27.6% in the fourth quarter. Renaissance Technologies LLC now owns 377,200 shares of the biopharmaceutical company’s stock worth $4,911,000 after buying an additional 81,700 shares during the last quarter. Beacon Financial Group acquired a new stake in shares of Achaogen during the first quarter worth $251,000. Bank of Montreal Can increased its stake in shares of Achaogen by 25.0% in the first quarter. Bank of Montreal Can now owns 7,500 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 1,500 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Achaogen during the first quarter worth $240,000. Finally, Hartwell J M Limited Partnership increased its stake in shares of Achaogen by 21.2% in the first quarter. Hartwell J M Limited Partnership now owns 20,000 shares of the biopharmaceutical company’s stock worth $505,000 after buying an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 70.30% of the company’s stock.

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).

Analyst Recommendations for Achaogen (NASDAQ:AKAO)

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