Achaogen (AKAO) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Achaogen (NASDAQ:AKAO) in a research note issued to investors on Wednesday. The firm currently has a $22.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $28.00.

AKAO has been the subject of a number of other research reports. Guggenheim started coverage on Achaogen in a report on Tuesday, October 24th. They set a buy rating and a $17.00 target price for the company. Zacks Investment Research upgraded Achaogen from a sell rating to a hold rating in a report on Monday, December 11th. Mizuho restated a buy rating and set a $28.00 target price on shares of Achaogen in a report on Thursday, November 9th. HC Wainwright upped their target price on Achaogen from $25.00 to $31.00 and gave the company a buy rating in a report on Wednesday, February 7th. Finally, Stifel Nicolaus decreased their target price on Achaogen from $30.00 to $27.00 and set a buy rating for the company in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $25.62.

Shares of Achaogen (AKAO) traded down $0.07 during trading on Wednesday, hitting $10.91. The company had a trading volume of 918,900 shares, compared to its average volume of 1,332,502. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.99 and a current ratio of 6.99. The company has a market capitalization of $471.42, a P/E ratio of -3.32 and a beta of 1.27. Achaogen has a one year low of $9.83 and a one year high of $27.79.

In other news, major shareholder Robert W. Duggan acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was acquired at an average price of $10.89 per share, for a total transaction of $163,350.00. Following the completion of the acquisition, the insider now owns 5,617,752 shares in the company, valued at $61,177,319.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Robert W. Duggan acquired 50,000 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was purchased at an average price of $11.51 per share, with a total value of $575,500.00. Following the acquisition, the insider now owns 5,617,752 shares of the company’s stock, valued at approximately $64,660,325.52. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 160,012 shares of company stock valued at $1,796,334. 8.36% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Clear Harbor Asset Management LLC bought a new position in Achaogen in the fourth quarter worth $177,000. Ellington Management Group LLC bought a new position in shares of Achaogen during the fourth quarter valued at $177,000. Tower Research Capital LLC TRC increased its holdings in shares of Achaogen by 375.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 18,648 shares of the biopharmaceutical company’s stock valued at $201,000 after acquiring an additional 14,725 shares in the last quarter. Ardsley Advisory Partners bought a new position in shares of Achaogen during the second quarter valued at $217,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Achaogen by 691.2% during the second quarter. JPMorgan Chase & Co. now owns 11,077 shares of the biopharmaceutical company’s stock valued at $240,000 after acquiring an additional 9,677 shares in the last quarter. Institutional investors and hedge funds own 86.56% of the company’s stock.

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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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