Achaogen (AKAO) Earns “Outperform” Rating from Wedbush

Achaogen (NASDAQ:AKAO)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a report released on Wednesday. They presently have a $22.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $28.00. Wedbush’s target price suggests a potential upside of 101.65% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Mizuho reiterated a “buy” rating and issued a $28.00 price target on shares of Achaogen in a research note on Monday, October 30th. Zacks Investment Research lowered Achaogen from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Guggenheim assumed coverage on Achaogen in a research report on Tuesday, October 24th. They set a “buy” rating and a $17.00 price objective on the stock. ValuEngine upgraded Achaogen from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Achaogen in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $25.62.

Achaogen (NASDAQ:AKAO) opened at $10.91 on Wednesday. Achaogen has a 52 week low of $9.83 and a 52 week high of $27.79. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $462.51, a price-to-earnings ratio of -3.25 and a beta of 1.27.

In related news, major shareholder Robert W. Duggan purchased 50,000 shares of Achaogen stock in a transaction on Friday, January 5th. The shares were purchased at an average price of $11.51 per share, for a total transaction of $575,500.00. Following the transaction, the insider now owns 5,617,752 shares of the company’s stock, valued at approximately $64,660,325.52. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Robert W. Duggan purchased 15,000 shares of Achaogen stock in a transaction on Wednesday, January 3rd. The stock was bought at an average price of $10.89 per share, for a total transaction of $163,350.00. Following the transaction, the insider now directly owns 5,617,752 shares in the company, valued at approximately $61,177,319.28. The disclosure for this purchase can be found here. Insiders have purchased a total of 160,012 shares of company stock worth $1,796,334 in the last 90 days. 8.36% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DSC Advisors L.P. bought a new stake in shares of Achaogen in the 4th quarter valued at about $752,000. Teachers Advisors LLC grew its position in shares of Achaogen by 15.0% in the 4th quarter. Teachers Advisors LLC now owns 62,483 shares of the biopharmaceutical company’s stock valued at $671,000 after buying an additional 8,137 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Achaogen in the 4th quarter valued at about $260,000. Ellington Management Group LLC bought a new stake in shares of Achaogen in the 4th quarter valued at about $177,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Achaogen by 2.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 331,039 shares of the biopharmaceutical company’s stock valued at $3,555,000 after buying an additional 9,267 shares during the last quarter. Hedge funds and other institutional investors own 86.56% of the company’s stock.

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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).

Analyst Recommendations for Achaogen (NASDAQ:AKAO)

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