Guggenheim Reiterates Buy Rating for Achaogen (AKAO)

Achaogen (NASDAQ:AKAO)‘s stock had its “buy” rating reiterated by equities research analysts at Guggenheim in a research report issued on Wednesday. They currently have a $14.00 target price on the biopharmaceutical company’s stock. Guggenheim’s price target indicates a potential upside of 17.25% from the stock’s current price.

A number of other brokerages have also recently commented on AKAO. Mizuho reaffirmed a “buy” rating and set a $28.00 price target on shares of Achaogen in a research report on Thursday, September 28th. Leerink Swann reiterated an “outperform” rating and set a $22.00 price objective (down previously from $28.00) on shares of Achaogen in a research note on Monday, October 9th. They noted that the move was a valuation call. Stifel Nicolaus reduced 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. HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of Achaogen in a research note on Thursday, November 9th. Finally, Zacks Investment Research lowered Achaogen from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Two 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. The company presently has a consensus rating of “Buy” and an average price target of $25.62.

Shares of Achaogen (NASDAQ:AKAO) traded down $0.48 during midday trading on Wednesday, reaching $11.94. The company’s stock had a trading volume of 1,360,000 shares, compared to its average volume of 1,290,000. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.99 and a quick ratio of 6.99. The company has a market cap of $506.18, a PE ratio of -3.55 and a beta of 1.35. Achaogen has a 1-year low of $10.24 and a 1-year high of $27.79.

Achaogen (NASDAQ:AKAO) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.13). Achaogen had a negative return on equity of 80.44% and a negative net margin of 593.61%. The firm had revenue of $0.58 million for the quarter, compared to analyst estimates of $2.09 million. During the same period in the prior year, the firm posted ($0.41) EPS. The business’s revenue was down 96.4% compared to the same quarter last year. analysts forecast that Achaogen will post -3.06 EPS for the current year.

In other news, major shareholder Robert W. Duggan acquired 95,012 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were bought at an average cost of $11.13 per share, for a total transaction of $1,057,483.56. Following the acquisition, the insider now owns 5,602,752 shares in the company, valued at approximately $62,358,629.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Robert W. Duggan acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was purchased 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 approximately $61,177,319.28. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 160,012 shares of company stock worth $1,796,334. 8.36% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Alps Advisors Inc. lifted its holdings in Achaogen by 12.8% in the third 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. Legal & General Group Plc purchased a new position in Achaogen in the second quarter valued at $168,000. Wells Fargo & Company MN increased its holdings in Achaogen by 34.3% in the third quarter. Wells Fargo & Company MN now owns 33,213 shares of the biopharmaceutical company’s stock valued at $530,000 after buying an additional 8,483 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Achaogen by 691.2% in 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. Finally, Ardsley Advisory Partners acquired a new position in Achaogen in the second quarter valued at $217,000. Institutional investors and hedge funds own 85.74% 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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