Achaogen (AKAO) Given “Buy” Rating at Mizuho

Mizuho reiterated their buy rating on shares of Achaogen (NASDAQ:AKAO) in a report released on Wednesday. The firm currently has a $28.00 price objective on the biopharmaceutical company’s stock.

AKAO has been the subject of a number of other research reports. ValuEngine upgraded shares of Achaogen from a sell rating to a hold rating in a research report on Sunday. 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 report on Monday, October 9th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Achaogen from a hold rating to a sell rating in a research report on Tuesday, November 14th. Guggenheim began coverage on shares of Achaogen in a research report on Tuesday, October 24th. They issued a buy rating and a $17.00 price objective for the company. Finally, Stifel Nicolaus lowered their price objective on shares of Achaogen from $30.00 to $27.00 and set a buy rating for the company in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Achaogen currently has a consensus rating of Buy and an average target price of $25.89.

Achaogen (NASDAQ:AKAO) traded up $1.17 on Wednesday, hitting $11.77. 1,740,000 shares of the company were exchanged, compared to its average volume of 1,170,000. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.99 and a current ratio of 6.99. Achaogen has a 1-year low of $10.24 and a 1-year high of $27.79. The company has a market cap of $498.97, a PE ratio of -3.50 and a beta of 1.35.

Achaogen (NASDAQ:AKAO) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.13). Achaogen had a negative net margin of 593.61% and a negative return on equity of 80.44%. The firm had revenue of $0.58 million during the quarter, compared to the consensus estimate of $2.09 million. During the same quarter in the prior year, the company earned ($0.41) EPS. Achaogen’s quarterly revenue was down 96.4% on a year-over-year basis. research analysts predict that Achaogen will post -3.06 earnings per share for the current year.

In related news, major shareholder Robert W. Duggan bought 95,012 shares of Achaogen stock in a transaction that occurred on Monday, December 18th. The stock was purchased at an average cost of $11.13 per share, with a total value of $1,057,483.56. Following the purchase, the insider now owns 5,602,752 shares in the company, valued at $62,358,629.76. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.36% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. boosted its stake in 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 purchasing an additional 806,899 shares during the period. University of Notre Dame DU Lac boosted its stake in Achaogen by 49.9% in the 3rd quarter. University of Notre Dame DU Lac now owns 155,654 shares of the biopharmaceutical company’s stock worth $2,483,000 after purchasing an additional 51,786 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Achaogen by 154.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 122,684 shares of the biopharmaceutical company’s stock worth $1,957,000 after purchasing an additional 74,384 shares during the period. Wells Fargo & Company MN boosted its stake in Achaogen by 34.3% in the 3rd quarter. Wells Fargo & Company MN now owns 33,213 shares of the biopharmaceutical company’s stock worth $530,000 after purchasing an additional 8,483 shares during the period. Finally, TimesSquare Capital Management LLC boosted its stake in Achaogen by 25.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,361,665 shares of the biopharmaceutical company’s stock worth $21,719,000 after purchasing an additional 273,365 shares during the period. 85.74% of the stock is owned by hedge funds and other institutional investors.

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About Achaogen

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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