Zacks Investment Research upgraded shares of Achaogen (NASDAQ:AKAO) from a sell rating to a hold rating in a research report report published 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. “
AKAO has been the subject of several other reports. Leerink Swann restated an outperform rating and set a $22.00 target price (down from $28.00) on shares of Achaogen in a report on Monday, October 9th. They noted that the move was a valuation call. BidaskClub upgraded Achaogen from a strong sell rating to a sell rating in a report on Tuesday, August 22nd. Guggenheim initiated coverage on Achaogen in a report on Tuesday, October 24th. They issued a buy rating and a $17.00 price objective for the company. Mizuho initiated coverage on Achaogen in a report on Wednesday, September 6th. They issued a buy rating and a $28.00 price objective for the company. Finally, Stifel Nicolaus dropped their price objective on Achaogen from $30.00 to $27.00 and set a buy rating for the company in a report on Thursday, November 9th. One equities research 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 has a consensus rating of Buy and a consensus price target of $25.78.
Shares of Achaogen (NASDAQ:AKAO) opened at $10.93 on Monday. Achaogen has a fifty-two week low of $10.24 and a fifty-two 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.
Achaogen (NASDAQ:AKAO) last issued its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.13). The company had revenue of $0.58 million for the quarter, compared to analysts’ expectations of $2.09 million. Achaogen had a negative net margin of 593.61% and a negative return on equity of 80.44%. The company’s revenue was down 96.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.41) earnings per share. equities research analysts anticipate that Achaogen will post -3.06 earnings per share for the current fiscal year.
In other Achaogen news, COO Blake Wise sold 3,576 shares of the stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $15.99, for a total value of $57,180.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.36% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKAO. State Street Corp raised its position in shares of Achaogen by 302.6% in the 2nd quarter. State Street Corp now owns 1,677,097 shares of the biopharmaceutical company’s stock worth $36,444,000 after acquiring an additional 1,260,509 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Achaogen by 55.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,255,899 shares of the biopharmaceutical company’s stock worth $35,982,000 after acquiring an additional 806,899 shares in the last quarter. TimesSquare Capital Management LLC raised its position in shares of Achaogen by 106.7% in the 2nd quarter. TimesSquare Capital Management LLC now owns 1,088,300 shares of the biopharmaceutical company’s stock worth $23,649,000 after acquiring an additional 561,700 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Achaogen in the 2nd quarter worth approximately $8,692,000. Finally, Vanguard Group Inc. raised its position in shares of Achaogen by 32.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,410,129 shares of the biopharmaceutical company’s stock worth $30,641,000 after acquiring an additional 343,428 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.
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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