Wedbush Reiterates “Outperform” Rating for Achaogen (NASDAQ:AKAO)

Wedbush restated their outperform rating on shares of Achaogen (NASDAQ:AKAO) in a report released on Wednesday, February 14th. Wedbush currently has a $22.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $28.00. Wedbush also issued estimates for Achaogen’s Q4 2017 earnings at ($0.76) EPS, FY2018 earnings at ($2.92) EPS, FY2019 earnings at ($2.47) EPS, FY2020 earnings at ($2.32) EPS, FY2021 earnings at ($2.27) EPS and FY2022 earnings at ($1.10) EPS.

Other research analysts have also recently issued research reports about the company. Guggenheim assumed coverage on Achaogen in a research report on Tuesday, October 24th. They issued a buy rating and a $17.00 price objective on the stock. Mizuho restated a buy rating and set a $28.00 target price on shares of Achaogen in a report on Monday, October 30th. HC Wainwright reaffirmed a buy rating and set a $25.00 price target on shares of Achaogen in a research report on Thursday, November 9th. Stifel Nicolaus decreased their target price on Achaogen from $30.00 to $27.00 and set a buy rating for the company in a research report on Thursday, November 9th. Finally, Zacks Investment Research lowered Achaogen from a hold rating to a sell rating in a research report on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. Achaogen currently has an average rating of Buy and an average target price of $25.60.

Shares of Achaogen (NASDAQ AKAO) traded down $0.10 during mid-day trading on Wednesday, reaching $10.82. The company’s stock had a trading volume of 482,400 shares, compared to its average volume of 1,267,734. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.99 and a current ratio of 6.99. Achaogen has a 1-year low of $9.83 and a 1-year high of $27.79. The company has a market capitalization of $462.94, a P/E ratio of -3.05 and a beta of 1.27.

In other Achaogen news, major shareholder Robert W. Duggan acquired 15,000 shares of Achaogen stock in a transaction that occurred on Wednesday, January 3rd. The stock was bought at an average price 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 approximately $61,177,319.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Robert W. Duggan acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were bought at an average cost of $10.96 per share, for a total transaction of $109,600.00. Following the completion of the acquisition, the insider now directly owns 5,668,310 shares of the company’s stock, valued at $62,124,677.60. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 170,012 shares of company stock valued at $1,905,934. 8.36% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Ardsley Advisory Partners purchased a new position in shares of Achaogen during the 2nd quarter worth approximately $217,000. JPMorgan Chase & Co. raised its position in shares of 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 buying an additional 9,677 shares during the last quarter. California Public Employees Retirement System acquired a new position in shares of Achaogen in the second quarter valued at approximately $243,000. Voya Investment Management LLC acquired a new position in shares of Achaogen in the second quarter valued at approximately $295,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Achaogen in the fourth quarter valued at approximately $151,000. Institutional investors own 90.49% 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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