Achaogen, Inc. (AKAO) Lowered to Sell at Zacks Investment Research

Achaogen, Inc. (NASDAQ:AKAO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

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 brokerages have also recently issued reports on AKAO. BidaskClub cut shares of Achaogen from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price objective on shares of Achaogen in a research note on Friday, August 4th. Mizuho started coverage on shares of Achaogen in a research note on Wednesday, September 6th. They issued a “buy” rating and a $28.00 price objective for the company. Leerink Swann restated an “outperform” rating and issued a $22.00 price objective (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. Finally, Guggenheim started coverage on shares of Achaogen in a research note on Tuesday, October 24th. They issued a “buy” rating and a $17.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $25.78.

Achaogen (AKAO) traded down $0.28 during trading hours on Tuesday, reaching $13.01. 545,500 shares of the company traded hands, compared to its average volume of 859,064. Achaogen has a 1 year low of $4.67 and a 1 year 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.

Achaogen (NASDAQ:AKAO) last released 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 company had revenue of $0.58 million for the quarter, compared to analyst estimates of $2.09 million. Achaogen had a negative net margin of 593.61% and a negative return on equity of 80.44%. Achaogen’s revenue for the quarter was down 96.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.41) earnings per share. analysts forecast that Achaogen will post -2.97 earnings per share for the current fiscal year.

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In other news, COO Blake Wise sold 3,576 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total value of $57,180.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.36% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of AKAO. Parametric Portfolio Associates LLC grew its holdings in shares of Achaogen by 119.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 51,359 shares of the biopharmaceutical company’s stock worth $1,296,000 after purchasing an additional 27,914 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Achaogen by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 1,066,701 shares of the biopharmaceutical company’s stock worth $26,913,000 after purchasing an additional 107,406 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Achaogen by 18.6% in the 1st quarter. Geode Capital Management LLC now owns 166,055 shares of the biopharmaceutical company’s stock worth $4,189,000 after purchasing an additional 26,100 shares during the last quarter. UBS Group AG grew its holdings in shares of Achaogen by 1,183.2% in the 1st quarter. UBS Group AG now owns 45,488 shares of the biopharmaceutical company’s stock worth $1,148,000 after purchasing an additional 41,943 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Achaogen by 117.9% in the 1st quarter. Morgan Stanley now owns 43,698 shares of the biopharmaceutical company’s stock worth $1,103,000 after purchasing an additional 23,644 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

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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