Achaogen Inc (AKAO) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 28 from a previous price target of $27 . Stifel advised their Clients and Investors in a research report released on Mar 15, 2017.
Based on several research reports , Company shares were Reiterated by Stifel on Mar 15, 2017 to “Buy”, Firm has raised the Price Target to $ 28 from a previous price target of $27 .Company shares were Reiterated by Wedbush on Mar 6, 2017 to “Outperform”, Firm has raised the Price Target to $ 28 from a previous price target of $23 .Company shares were Reiterated by Needham on Mar 2, 2017 to “Buy”, Firm has raised the Price Target to $ 29 from a previous price target of $19 .Stifel Initiated Achaogen Inc on Feb 7, 2017 to “Buy”, Price Target of the shares are set at $27.Company shares were Reiterated by Wedbush on Feb 1, 2017 to “Outperform”, Firm has raised the Price Target to $ 23 from a previous price target of $19 .
Several company insiders have filed Insider transactions , on Feb 23, 2017, Ian Friedland (SVP, Chief Medical Officer) sold 1,026 shares at $22.76 per share price. According to the SEC, on Feb 23, 2017, Zeryn Sarpangal (officer ) sold 439 shares at $22.76 per share price. On Feb 23, 2017, Kenneth J. Hillan (Chief Executive Officer) sold 1,696 shares at $22.76 per share price, according to the Form-4 filing with the securities and exchange commission.
On the company’s financial health, Achaogen Inc reported $-1.04 EPS for the quarter, missing the analyst consensus estimate by $ -0.55 based on the information available during the earnings call on Mar 14, 2017. Analyst had a consensus of $-0.49. The company had revenue of $10.73 million for the quarter, compared to analysts expectations of $13.33 million. The company’s revenue was up 130.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.61 EPS.
Achaogen Inc closed down -2.85 points or -11.29% at $22.4 with 48,40,644 shares getting traded on Wednesday. Post opening the session at $23.31, the shares hit an intraday low of $22.2 and an intraday high of $24.68 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Achaogen Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery development and commercialization of antibacterials to treat multidrug resistant (MDR) gram-negative infections. The Company’s lead product plazomicin is used to treat bacterial infections due to MDR enterobacteriaceae including carbapenem-resistant enterobacteriaceae (CRE) and is in Phase III Clinical trials. In addition to plazomicin the Company’s research and development pipeline includes two programs that specifically target Pseudomonas aeruginosa or Acinetobacter baumannii infections. The first is a program to discover and develop small molecule inhibitors of LpxC which is an enzyme essential for the synthesis of the outer membrane of gram-negative bacteria and the second is a therapeutic antibody program to generate mAbs (monoclonal antibodies) that can be deployed as a monotherapy to treat infections caused by MDR Acinetobacter baumannii and other gram-negative pathogens.