Achaogen (AKAO) PT Lowered to $29.00 at HC Wainwright
Achaogen (NASDAQ:AKAO) had its price objective trimmed by HC Wainwright from $31.00 to $29.00 in a research report released on Thursday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
AKAO has been the subject of a number of other research reports. Guggenheim reaffirmed a buy rating and set a $14.00 price objective on shares of Achaogen in a research report on Wednesday, January 10th. Zacks Investment Research raised shares of Achaogen from a sell rating to a hold rating in a research report on Monday, December 11th. Mizuho reissued a buy rating and issued a $28.00 price target on shares of Achaogen in a research report on Thursday, November 9th. Needham & Company LLC reissued a buy rating and issued a $20.00 price target (down previously from $29.00) on shares of Achaogen in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus dropped their price target on shares of Achaogen from $27.00 to $23.00 and set a buy rating for the company in a research report on Wednesday, February 28th. 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 stock. The stock presently has an average rating of Buy and a consensus target price of $24.10.
Achaogen (AKAO) opened at $10.48 on Thursday. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 0.08. Achaogen has a 52-week low of $9.83 and a 52-week high of $27.79.
In related news, major shareholder Robert W. Duggan purchased 15,000 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were acquired at an average cost of $10.89 per share, with a total value of $163,350.00. Following the completion of the purchase, the insider now directly owns 5,617,752 shares of the company’s stock, valued at $61,177,319.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth J. Hillan sold 4,606 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $10.67, for a total transaction of $49,146.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 717,408 shares of company stock worth $7,557,386 and have sold 7,354 shares worth $78,467. 8.36% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AKAO. State Street Corp grew its stake in shares of Achaogen by 302.6% during the second quarter. State Street Corp now owns 1,677,097 shares of the biopharmaceutical company’s stock valued at $36,444,000 after purchasing an additional 1,260,509 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Achaogen by 55.7% during 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 purchasing an additional 806,899 shares during the last quarter. BlackRock Inc. grew its stake in shares of Achaogen by 28.6% during the fourth quarter. BlackRock Inc. now owns 2,837,846 shares of the biopharmaceutical company’s stock valued at $30,478,000 after purchasing an additional 630,547 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Achaogen by 3,318.6% during the fourth quarter. Renaissance Technologies LLC now owns 642,700 shares of the biopharmaceutical company’s stock valued at $6,903,000 after purchasing an additional 623,900 shares during the last quarter. Finally, Prosight Management LP bought a new stake in shares of Achaogen during the fourth quarter valued at approximately $6,132,000. 80.91% of the stock is currently owned by institutional investors and hedge funds.
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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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