Zacks Investment Research lowered shares of Achaogen (NASDAQ:AKAO) from a hold rating to a sell rating in a report published on Tuesday morning.
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 also recently 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. Leerink Swann restated an outperform rating and issued a $22.00 target price (down previously from $28.00) on shares of Achaogen in a research report on Monday, October 9th. They noted that the move was a valuation call. Guggenheim started coverage on Achaogen in a research report on Tuesday, October 24th. They issued a buy rating and a $17.00 target price for the company. 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. Finally, Stifel Nicolaus dropped their target price on Achaogen from $30.00 to $27.00 and set a buy rating for the company in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $25.62.
Shares of Achaogen (NASDAQ AKAO) opened at $11.94 on Tuesday. The firm has a market capitalization of $526.53, a P/E ratio of -3.32 and a beta of 1.35. Achaogen has a 12-month low of $10.24 and a 12-month high of $27.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.99 and a quick ratio of 6.99.
Achaogen (NASDAQ:AKAO) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.13). The firm had revenue of $0.58 million during 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 business’s quarterly revenue was down 96.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.41) EPS. analysts expect that Achaogen will post -3.06 earnings per share for the current fiscal year.
In related news, major shareholder Robert W. Duggan purchased 50,000 shares of the firm’s stock in a transaction on Friday, January 5th. The shares were acquired at an average cost of $11.51 per share, with a total value of $575,500.00. Following the purchase, the insider now directly owns 5,617,752 shares of the company’s stock, valued at $64,660,325.52. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Robert W. Duggan bought 95,012 shares of Achaogen stock in a transaction dated Monday, December 18th. The shares were acquired at an average cost of $11.13 per share, for a total transaction of $1,057,483.56. Following the completion of the purchase, the insider now directly owns 5,602,752 shares of the company’s stock, valued at approximately $62,358,629.76. The disclosure for this purchase can be found here. Insiders acquired a total of 160,012 shares of company stock worth $1,796,334 over the last ninety days. Insiders own 8.36% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Hikari Power Ltd increased its stake in shares of Achaogen by 100.0% during the fourth quarter. Hikari Power Ltd now owns 60,000 shares of the biopharmaceutical company’s stock valued at $644,000 after buying an additional 30,000 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Achaogen by 55.7% during the third quarter. Point72 Asset Management L.P. now owns 2,255,899 shares of the biopharmaceutical company’s stock valued at $35,982,000 after buying an additional 806,899 shares during the period. University of Notre Dame DU Lac increased its stake in shares of Achaogen by 49.9% during the third quarter. University of Notre Dame DU Lac now owns 155,654 shares of the biopharmaceutical company’s stock valued at $2,483,000 after buying an additional 51,786 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Achaogen by 154.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 122,684 shares of the biopharmaceutical company’s stock valued at $1,957,000 after buying an additional 74,384 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Achaogen by 34.3% during the third quarter. Wells Fargo & Company MN now owns 33,213 shares of the biopharmaceutical company’s stock valued at $530,000 after buying an additional 8,483 shares during the period. 85.74% of the stock is currently owned by hedge funds and other 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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