Achaogen Inc (NASDAQ:AKAO) major shareholder Robert W. Duggan purchased 49,660 shares of the business’s stock in a transaction on Thursday, March 15th. The stock was purchased at an average cost of $11.36 per share, with a total value of $564,137.60. Following the acquisition, the insider now owns 6,294,808 shares in the company, valued at $71,509,018.88. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Achaogen stock opened at $11.50 on Monday. Achaogen Inc has a twelve month low of $9.83 and a twelve month high of $27.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.83 and a current ratio of 4.83.
Achaogen (NASDAQ:AKAO) last released its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.77) by ($0.21). Achaogen had a negative net margin of 1,124.10% and a negative return on equity of 83.14%. The business had revenue of $1.87 million for the quarter, compared to analyst estimates of $1.18 million. equities research analysts predict that Achaogen Inc will post -3.5 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new stake in Achaogen during the 4th quarter valued at $151,000. Clear Harbor Asset Management LLC acquired a new stake in Achaogen during the 4th quarter valued at $177,000. Ellington Management Group LLC acquired a new stake in Achaogen during the 4th quarter valued at $177,000. Tower Research Capital LLC TRC increased its holdings in Achaogen by 375.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 18,648 shares of the biopharmaceutical company’s stock valued at $201,000 after purchasing an additional 14,725 shares in the last quarter. Finally, California Public Employees Retirement System acquired a new stake in Achaogen during the 2nd quarter valued at $243,000. 77.37% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. Guggenheim reissued a “buy” rating and issued a $14.00 target price on shares of Achaogen in a report on Wednesday, January 10th. Zacks Investment Research raised Achaogen from a “sell” rating to a “hold” rating in a report on Monday, December 11th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price (down from $29.00) on shares of Achaogen in a report on Wednesday, February 28th. HC Wainwright increased their target price on Achaogen from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, Stifel Nicolaus dropped their target price on Achaogen from $27.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $24.10.
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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).
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