Achaogen Inc (AKAO) was Upgraded by Wedbush to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 10 from a previous price target of $7 . Earlier the firm had a rating of “Neutral ” on the company shares. Wedbush advised their investors in a research report released on Jun 14, 2016.
Achaogen Inc closed down -0.27 points or -6.54% at $3.86 with 1,93,077 shares getting traded on Friday. Post opening the session at $4.15, the shares hit an intraday low of $3.81 and an intraday high of $4.15 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Mar 21, 2016, Kenneth J. Hillan (Chief Executive Officer) sold 3,572 shares at $3.22 per share price. According to the SEC, on Mar 21, 2016, Ian Friedland (Chief Medical Officer) sold 1,772 shares at $3.22 per share price.
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.