Achaogen Inc (AKAO) Receives Average Recommendation of “Buy” from Analysts
Shares of Achaogen Inc (NASDAQ:AKAO) have been assigned a consensus rating of “Buy” from the fourteen research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $23.78.
A number of equities analysts have issued reports on the stock. William Blair restated an “outperform” rating on shares of Achaogen in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $20.00 target price (down previously from $29.00) on shares of Achaogen in a research report on Wednesday. HC Wainwright cut their target price on shares of Achaogen from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday. Stifel Nicolaus cut their target price on shares of Achaogen from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Zacks Investment Research cut shares of Achaogen from a “hold” rating to a “sell” rating in a research report on Wednesday, February 14th.
Achaogen (NASDAQ AKAO) opened at $10.48 on Friday. The company has a current ratio of 4.83, a quick ratio of 6.99 and a debt-to-equity ratio of 0.08. The stock has a market cap of $455.59, a PE ratio of -3.30 and a beta of 1.28. Achaogen has a 52-week low of $9.83 and a 52-week high of $27.79.
In other news, major shareholder Robert W. Duggan acquired 527,396 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was acquired at an average price of $10.31 per share, with a total value of $5,437,452.76. Following the completion of the transaction, the insider now directly owns 5,697,752 shares in the company, valued at approximately $58,743,823.12. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Robert W. Duggan acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was purchased at an average cost of $10.89 per share, with a total value of $163,350.00. Following the transaction, the insider now owns 5,617,752 shares of the company’s stock, valued at $61,177,319.28. The disclosure for this purchase can be found here. In the last three months, insiders bought 717,408 shares of company stock valued at $7,557,386 and sold 7,354 shares valued at $78,467. Insiders own 8.36% of the company’s stock.
Several large investors have recently bought and sold shares of AKAO. State Street Corp raised its position in shares of Achaogen by 302.6% in the second quarter. State Street Corp now owns 1,677,097 shares of the biopharmaceutical company’s stock valued at $36,444,000 after buying an additional 1,260,509 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Achaogen by 55.7% in 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 last quarter. BlackRock Inc. raised its position in shares of Achaogen by 28.6% in the fourth quarter. BlackRock Inc. now owns 2,837,846 shares of the biopharmaceutical company’s stock valued at $30,478,000 after buying an additional 630,547 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Achaogen by 3,318.6% in the fourth quarter. Renaissance Technologies LLC now owns 642,700 shares of the biopharmaceutical company’s stock valued at $6,903,000 after buying an additional 623,900 shares during the last quarter. Finally, Prosight Management LP acquired a new position in shares of Achaogen in the fourth quarter valued at approximately $6,132,000. 90.49% of the stock is owned by institutional investors and hedge funds.
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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