Achaogen’s (AKAO) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Achaogen, Inc. (NASDAQ:AKAO) in a report published on Thursday morning. The brokerage currently has a $25.00 target price on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently issued reports on the company. Leerink Swann reissued an outperform rating and issued a $22.00 target price (down from $28.00) on shares of Achaogen in a report on Monday, October 9th. They noted that the move was a valuation call. Mizuho initiated coverage on Achaogen in a report on Wednesday, September 6th. They issued a buy rating and a $28.00 target price for the company. Guggenheim initiated coverage on Achaogen in a report on Tuesday, October 24th. They issued a buy rating and a $17.00 target price for the company. Zacks Investment Research raised Achaogen from a sell rating to a hold rating and set a $27.00 target price for the company in a report on Monday, July 17th. Finally, BidaskClub cut Achaogen from a hold rating to a sell rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $25.78.

Achaogen (AKAO) traded down $1.36 during trading on Thursday, reaching $13.29. The company’s stock had a trading volume of 1,086,700 shares, compared to its average volume of 860,503. The company has a quick ratio of 8.37, a current ratio of 6.99 and a debt-to-equity ratio of 0.08. Achaogen has a 12-month low of $4.26 and a 12-month high of $27.79.

Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.13). Achaogen had a negative net margin of 593.61% and a negative return on equity of 80.44%. The firm had revenue of $0.58 million during the quarter, compared to analyst estimates of $2.09 million. During the same period last year, the company earned ($0.41) EPS. The company’s revenue was down 96.4% on a year-over-year basis. analysts expect that Achaogen will post -3.01 earnings per share for the current fiscal year.

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In related news, COO Blake Wise sold 3,576 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $15.99, for a total transaction of $57,180.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.36% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its holdings in Achaogen by 34.3% during the 3rd quarter. Wells Fargo & Company MN now owns 33,213 shares of the biopharmaceutical company’s stock valued at $530,000 after purchasing an additional 8,483 shares in the last quarter. TimesSquare Capital Management LLC increased its holdings in Achaogen by 25.1% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,361,665 shares of the biopharmaceutical company’s stock valued at $21,719,000 after purchasing an additional 273,365 shares in the last quarter. Artal Group S.A. increased its holdings in Achaogen by 25.0% during the 3rd quarter. Artal Group S.A. now owns 250,000 shares of the biopharmaceutical company’s stock valued at $3,988,000 after purchasing an additional 50,000 shares in the last quarter. Hikari Power Ltd acquired a new stake in Achaogen during the 3rd quarter valued at $479,000. Finally, Sei Investments Co. increased its holdings in Achaogen by 22.2% during the 3rd quarter. Sei Investments Co. now owns 88,000 shares of the biopharmaceutical company’s stock valued at $1,404,000 after purchasing an additional 16,000 shares in the last quarter. 84.18% of the stock is owned by hedge funds and other institutional investors.

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).

Analyst Recommendations for Achaogen (NASDAQ:AKAO)

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