Stifel Nicolaus Boosts Achaogen (AKAO) Price Target to $22.00

Achaogen (NASDAQ:AKAO) had its target price increased by equities researchers at Stifel Nicolaus from $14.00 to $22.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 212.06% from the company’s current price.

Several other research firms have also recently commented on AKAO. BidaskClub cut Achaogen from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 18th. Needham & Company LLC downgraded Achaogen from a “buy” rating to a “hold” rating in a research note on Tuesday. SunTrust Banks dropped their price objective on Achaogen to $16.00 and set a “buy” rating for the company in a research note on Friday, May 4th. Zacks Investment Research raised Achaogen from a “sell” rating to a “hold” rating in a research note on Friday. Finally, raised their price objective on Achaogen to $2.54 and gave the company a “sell” rating in a research note on Tuesday, July 3rd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $19.62.

AKAO opened at $7.05 on Tuesday. The company has a quick ratio of 7.01, a current ratio of 7.01 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $307.30 million, a PE ratio of -2.22 and a beta of 0.83. Achaogen has a 12 month low of $6.23 and a 12 month high of $19.74.

Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Monday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.19). Achaogen had a negative net margin of 2,384.08% and a negative return on equity of 97.86%. research analysts forecast that Achaogen will post -3.64 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in AKAO. BlackRock Inc. grew its position in shares of Achaogen by 28.6% in the fourth quarter. BlackRock Inc. now owns 2,837,846 shares of the biopharmaceutical company’s stock valued at $30,478,000 after purchasing an additional 630,547 shares during the period. Renaissance Technologies LLC grew its position in shares of Achaogen by 3,318.6% in the fourth quarter. Renaissance Technologies LLC now owns 642,700 shares of the biopharmaceutical company’s stock valued at $6,903,000 after purchasing an additional 623,900 shares during the period. Deutsche Bank AG grew its position in shares of Achaogen by 307.3% in the fourth quarter. Deutsche Bank AG now owns 517,221 shares of the biopharmaceutical company’s stock valued at $5,553,000 after purchasing an additional 390,241 shares during the period. UBS Group AG grew its position in shares of Achaogen by 681.5% in the first quarter. UBS Group AG now owns 297,632 shares of the biopharmaceutical company’s stock valued at $3,854,000 after purchasing an additional 259,546 shares during the period. Finally, RMB Capital Management LLC purchased a new stake in shares of Achaogen in the first quarter valued at $1,650,000. 68.74% of the stock is owned by institutional investors.

Achaogen Company Profile

Achaogen, Inc, a late-stage biopharmaceutical company, focusses on the discovery, development, and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections in the United States. The company is principally developing plazomicin for the treatment of serious bacterial infections, including urinary tract infections, blood stream infections, and other infections due to MDR enterobacteriaceae comprising carbapenem-resistant enterobacteriaceae.

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