Achaogen, Inc. (AKAO) Given Buy Rating at Mizuho
Achaogen, Inc. (NASDAQ:AKAO)‘s stock had its “buy” rating reaffirmed by stock analysts at Mizuho in a report issued on Monday. They presently have a $28.00 target price on the biopharmaceutical company’s stock. Mizuho’s price objective would indicate a potential upside of 105.43% from the stock’s previous close.
The analysts wrote, “We estimate market share of Plazomicin to be 20% and 15%, respectively in confirmed carbapenem-resistant Enterobacteriaceae (CRE) and suspected CRE cases.””
A number of other equities research analysts have also recently issued reports on the stock. Leerink Swann reissued an “outperform” rating and issued a $22.00 price target (down previously from $28.00) on shares of Achaogen in a research note on Monday, October 9th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Achaogen from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. BidaskClub cut shares of Achaogen from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price target on shares of Achaogen in a research note on Friday, August 4th. Finally, Guggenheim started coverage on shares of Achaogen in a research note on Tuesday, October 24th. They set a “buy” rating and a $17.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Achaogen has a consensus rating of “Buy” and a consensus target price of $26.48.
Achaogen (NASDAQ:AKAO) opened at 13.63 on Monday. Achaogen has a 12 month low of $3.68 and a 12 month high of $27.79. The company’s market cap is $575.64 million. The company’s 50 day moving average is $15.02 and its 200-day moving average is $19.84.
Achaogen (NASDAQ:AKAO) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.18). Achaogen had a negative net margin of 281.88% and a negative return on equity of 86.24%. The company had revenue of $1.30 million during the quarter, compared to analyst estimates of $2.69 million. During the same period in the prior year, the business posted ($0.87) EPS. Achaogen’s revenue was down 85.7% compared to the same quarter last year. On average, analysts expect that Achaogen will post ($2.99) earnings per share for the current fiscal year.
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In other Achaogen news, COO Blake Wise sold 3,576 shares of Achaogen stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total transaction of $57,180.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.36% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can raised its holdings in shares of Achaogen by 25.0% during the 1st quarter. Bank of Montreal Can now owns 7,500 shares of the biopharmaceutical company’s stock worth $189,000 after acquiring an additional 1,500 shares during the period. Legal & General Group Plc purchased a new position in shares of Achaogen during the 2nd quarter worth $168,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Achaogen during the 1st quarter worth $199,000. Sigma Planning Corp purchased a new position in shares of Achaogen during the 1st quarter worth $218,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Achaogen during the 1st quarter worth $240,000. Institutional investors and hedge funds own 84.14% of the company’s stock.
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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