Guggenheim reiterated their buy rating on shares of Achaogen (NASDAQ:AKAO) in a research report released on Wednesday. Guggenheim currently has a $14.00 price target on the biopharmaceutical company’s stock.
Several other equities research analysts have also issued reports on AKAO. Mizuho reissued a buy rating and set a $28.00 price objective on shares of Achaogen in a research note on Thursday, September 28th. ValuEngine raised Achaogen from a sell rating to a hold rating in a research note on Sunday, December 31st. SunTrust Banks dropped their price objective on Achaogen to $27.00 and set a buy rating for the company in a research note on Wednesday, January 3rd. Zacks Investment Research lowered Achaogen from a hold rating to a sell rating in a research note on Tuesday, January 9th. Finally, Stifel Nicolaus dropped their price objective on Achaogen from $30.00 to $27.00 and set a buy rating for the company in a research note on Thursday, November 9th. Two investment 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. Achaogen has a consensus rating of Buy and a consensus target price of $25.62.
Achaogen (NASDAQ:AKAO) traded down $0.48 during trading hours on Wednesday, reaching $11.94. The company had a trading volume of 1,360,000 shares, compared to its average volume of 1,290,000. The company has a market capitalization of $506.18, a price-to-earnings ratio of -3.55 and a beta of 1.35. Achaogen has a 12 month low of $10.24 and a 12 month high of $27.79. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.08.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.72) by ($0.13). The business had revenue of $0.58 million for the quarter, compared to the consensus estimate of $2.09 million. Achaogen had a negative net margin of 593.61% and a negative return on equity of 80.44%. Achaogen’s quarterly revenue was down 96.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.41) EPS. equities analysts predict that Achaogen will post -3.06 earnings per share for the current year.
In other news, major shareholder Robert W. Duggan purchased 15,000 shares of the stock in a transaction on Wednesday, January 3rd. The shares were acquired at an average price of $10.89 per share, for a total transaction of $163,350.00. Following the completion of the transaction, the insider now directly owns 5,617,752 shares of the company’s stock, valued at approximately $61,177,319.28. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Robert W. Duggan purchased 50,000 shares of the stock in a transaction on Friday, January 5th. The shares were purchased at an average price of $11.51 per share, for a total transaction of $575,500.00. Following the transaction, the insider now directly owns 5,617,752 shares of the company’s stock, valued at $64,660,325.52. The disclosure for this purchase can be found here. Insiders have acquired 160,012 shares of company stock worth $1,796,334 in the last 90 days. Company insiders own 8.36% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. raised its position in 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 in the last quarter. State Street Corp increased its holdings 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 worth $36,444,000 after buying an additional 1,260,509 shares during the period. Vanguard Group Inc. increased its holdings in shares of Achaogen by 32.2% in the second quarter. Vanguard Group Inc. now owns 1,410,129 shares of the biopharmaceutical company’s stock worth $30,641,000 after buying an additional 343,428 shares during the period. TimesSquare Capital Management LLC increased its holdings in shares of Achaogen by 25.1% in the third quarter. TimesSquare Capital Management LLC now owns 1,361,665 shares of the biopharmaceutical company’s stock worth $21,719,000 after buying an additional 273,365 shares during the period. Finally, Farallon Capital Management LLC increased its holdings in shares of Achaogen by 16.0% in the second quarter. Farallon Capital Management LLC now owns 948,500 shares of the biopharmaceutical company’s stock worth $20,611,000 after buying an additional 131,000 shares during the period. Institutional investors and hedge funds own 85.74% of the company’s stock.
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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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