Achaogen Inc (AKAO) reported quarterly earnings results on Monday, Aug-8-2016. The company reported $-0.87 earnings per share for the quarter, missing the analyst consensus estimate by $-0.20. Analysts had a consensus of $-0.67. The company posted revenue of $9.14 million in the period, compared to analysts expectations of $5.58 million. The company’s revenue was down -24.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.
Many Wall Street Analysts have commented on Achaogen Inc. Company shares were Upgraded by Wedbush on Jun 14, 2016 to ” Outperform”, Firm has raised the Price Target to $ 10 from a previous price target of $7 .
Achaogen Inc opened for trading at $3.9 and hit $3.96 on the upside on Friday, eventually ending the session at $3.91, with a gain of 0.26% or 0.01 points. The heightened volatility saw the trading volume jump to 62,129 shares. Company has a market cap of $72 M.
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.