Achaogen (NASDAQ:AKAO)‘s stock had its “buy” rating restated by equities research analysts at Guggenheim in a research report issued to clients and investors on Wednesday, January 10th. They currently have a $14.00 target price on the biopharmaceutical company’s stock. Guggenheim’s price objective would suggest a potential upside of 21.32% from the company’s current price.
A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Achaogen from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Mizuho restated a “buy” rating and set a $28.00 target price on shares of Achaogen in a report on Wednesday, January 3rd. SunTrust Banks lowered their target price on Achaogen to $27.00 and set a “buy” rating for the company in a report on Wednesday, January 3rd. ValuEngine upgraded Achaogen from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Stifel Nicolaus lowered their target price on Achaogen from $30.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $25.62.
Achaogen (NASDAQ:AKAO) traded down $0.05 during midday trading on Wednesday, reaching $11.54. The company had a trading volume of 448,677 shares, compared to its average volume of 1,220,000. Achaogen has a 1 year low of $10.24 and a 1 year high of $27.79. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.08. The firm has a market cap of $489.22, a P/E ratio of -3.43 and a beta of 1.35.
In related news, major shareholder Robert W. Duggan bought 15,000 shares of the stock in a transaction on Wednesday, January 3rd. The shares were bought at an average cost of $10.89 per share, for a total transaction of $163,350.00. Following the purchase, the insider now owns 5,617,752 shares of the company’s stock, valued at approximately $61,177,319.28. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Robert W. Duggan bought 95,012 shares of the stock in a transaction on Monday, December 18th. The stock was bought at an average price of $11.13 per share, for a total transaction of $1,057,483.56. Following the completion of the purchase, the insider now directly owns 5,602,752 shares in the company, valued at approximately $62,358,629.76. The disclosure for this purchase can be found here. Insiders have bought a total of 160,012 shares of company stock worth $1,796,334 in the last three months. Corporate insiders own 8.36% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in shares of Achaogen in the 2nd quarter valued at approximately $168,000. Ardsley Advisory Partners purchased a new position in shares of Achaogen in the 2nd quarter valued at approximately $217,000. JPMorgan Chase & Co. grew its stake in shares of Achaogen by 691.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,077 shares of the biopharmaceutical company’s stock valued at $240,000 after purchasing an additional 9,677 shares during the last quarter. California Public Employees Retirement System purchased a new position in shares of Achaogen in the 2nd quarter valued at approximately $243,000. Finally, Voya Investment Management LLC purchased a new position in shares of Achaogen in the 2nd quarter valued at approximately $295,000. Institutional investors own 85.74% 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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