Mizuho Reiterates Buy Rating for Achaogen (AKAO)
Achaogen (NASDAQ:AKAO)‘s stock had its “buy” rating restated by Mizuho in a report released on Thursday. They presently have a $28.00 target price on the biopharmaceutical company’s stock. Mizuho’s price target points to a potential upside of 147.13% from the stock’s previous close.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Achaogen from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Stifel Nicolaus lowered their target price on shares of Achaogen from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of Achaogen in a research note on Thursday, November 9th. Guggenheim assumed coverage on shares of Achaogen in a research note on Tuesday, October 24th. They set a “buy” rating and a $17.00 target price on the stock. Finally, Leerink Swann reissued an “outperform” rating and set a $22.00 target price (down from $28.00) on shares of Achaogen in a research note on Monday, October 9th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Achaogen presently has a consensus rating of “Buy” and an average target price of $25.78.
Shares of Achaogen (AKAO) opened at $11.33 on Thursday. Achaogen has a 1-year low of $4.82 and a 1-year 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 posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing the 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 business had revenue of $0.58 million during the quarter, compared to analysts’ expectations of $2.09 million. During the same period in the previous year, the company posted ($0.41) earnings per share. Achaogen’s revenue for the quarter was down 96.4% compared to the same quarter last year. equities research analysts forecast that Achaogen will post -3.06 EPS for the current year.
In related 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 transaction of $57,180.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.36% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sigma Planning Corp raised its position in shares of Achaogen by 9.6% during the 2nd quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock worth $205,000 after purchasing an additional 825 shares during the last quarter. Bank of Montreal Can raised its holdings in Achaogen by 33.3% in the 2nd quarter. Bank of Montreal Can now owns 10,000 shares of the biopharmaceutical company’s stock valued at $217,000 after acquiring an additional 2,500 shares during the last quarter. Essex Investment Management Co. LLC raised its holdings in Achaogen by 14.4% in the 2nd quarter. Essex Investment Management Co. LLC now owns 26,330 shares of the biopharmaceutical company’s stock valued at $572,000 after acquiring an additional 3,319 shares during the last quarter. Alps Advisors Inc. raised its holdings in Achaogen by 12.8% in the 3rd quarter. Alps Advisors Inc. now owns 41,593 shares of the biopharmaceutical company’s stock valued at $663,000 after acquiring an additional 4,725 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in Achaogen in the 2nd quarter valued at about $168,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.
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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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