Achaogen: Rebound Likely In 2018
Shares have completed a round trip and then some since my original recommendation.
Continued weakness in the space highlighted by the bargain sale of The Medicines Company’s antibiotic portfolio worked against the stock in 2017.
Insider buying and a key executive hire could signal a rebound in the near term.
While still wary of the antibiotic space, I am adding Achaogen to the ROTY Contenders List to keep a closer eye on it.
Readers who have done their due diligence should initiate a pilot position in the near term and wait for technical and fundamental confirmation before amassing a full position.
Shares of Achaogen (AKAO) rose by up to 90% just a few months after my December article suggesting readers buy the secondary offering. The stock has completed the round trip back down and then some, currently in the red by 20% from where we first started.