Achaogen (AKAO) Lifted to “Hold” at Zacks Investment Research

Achaogen (NASDAQ:AKAO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “Achaogen, Inc. is a clinical-stage biopharmaceutical company. It is focused on the discovery, development, and commercialization of novel antibacterials to treat multi-drug resistant, or MDR, gram-negative infections. The Company is developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections due to MDR enterobacteriaceae, including carbapenem-resistant enterobacteriaceae. Achaogen, Inc. is headquartered in South San Francisco, California. “

A number of other analysts have also weighed in on AKAO. Mizuho restated a “buy” rating and issued a $28.00 target price on shares of Achaogen in a research report on Thursday, September 28th. Stifel Nicolaus cut their target price on shares of Achaogen from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, November 9th. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Achaogen in a research report on Thursday, November 9th. Guggenheim initiated coverage on shares of Achaogen in a research report on Tuesday, October 24th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, Leerink Swann reiterated an “outperform” rating and set a $22.00 price target (down previously from $28.00) on shares of Achaogen in a report on Monday, October 9th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Achaogen presently has an average rating of “Buy” and a consensus target price of $25.78.

Achaogen (NASDAQ AKAO) traded up $0.21 during trading on Monday, reaching $11.31. 766,182 shares of the company’s stock traded hands, compared to its average volume of 872,587. Achaogen has a 52-week low of $7.21 and a 52-week high of $27.79. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.08.

Achaogen (NASDAQ:AKAO) last announced its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.72) by ($0.13). The business had revenue of $0.58 million for the quarter, compared to the consensus estimate of $2.09 million. Achaogen had a negative return on equity of 80.44% and a negative net margin of 593.61%. The firm’s revenue for the quarter was down 96.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.41) earnings per share. equities analysts forecast that Achaogen will post -3.06 earnings per share for the current fiscal year.

In related news, COO Blake Wise sold 3,576 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total transaction of $57,180.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.36% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in AKAO. Redmile Group LLC purchased a new stake in Achaogen during the 3rd quarter valued at $155,000. FNY Partners Fund LP purchased a new stake in Achaogen during the 4th quarter valued at $158,000. Legal & General Group Plc purchased a new stake in Achaogen during the 2nd quarter valued at $168,000. Renaissance Technologies LLC boosted its position in Achaogen by 174.0% during the 1st quarter. Renaissance Technologies LLC now owns 64,400 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 40,900 shares during the period. Finally, Bank of Montreal Can boosted its position in Achaogen by 25.0% during the 1st quarter. Bank of Montreal Can now owns 7,500 shares of the biopharmaceutical company’s stock valued at $189,000 after buying an additional 1,500 shares during the period. 85.81% of the stock is currently owned by institutional investors.

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Achaogen Company Profile

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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