Achaogen (NASDAQ:AKAO)‘s stock had its “buy” rating reaffirmed by analysts at Guggenheim in a research report issued on Wednesday, January 10th. They currently have a $14.00 price objective on the biopharmaceutical company’s stock. Guggenheim’s price objective would suggest a potential upside of 21.32% from the stock’s current price.
Several other research firms also recently weighed in on AKAO. Mizuho reiterated a “buy” rating and set a $28.00 price target on shares of Achaogen in a research note on Monday, October 30th. SunTrust Banks decreased their price objective on Achaogen to $27.00 and set a “buy” rating for the company in a report on Wednesday, January 3rd. Zacks Investment Research cut Achaogen from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Achaogen in a report on Thursday, November 9th. Finally, Stifel Nicolaus decreased their price objective on Achaogen from $30.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, November 9th. Two investment 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 a consensus target price of $25.62.
Shares of Achaogen (AKAO) traded down $0.05 during mid-day 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 stock has a market cap of $489.22, a P/E ratio of -3.43 and a beta of 1.35.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.72) by ($0.13). The firm had revenue of $0.58 million for the quarter, compared to analysts’ expectations of $2.09 million. Achaogen had a negative net margin of 593.61% and a negative return on equity of 80.44%. The firm’s revenue for the quarter was down 96.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.41) EPS. sell-side analysts predict that Achaogen will post -3.06 EPS for the current year.
In related news, major shareholder Robert W. Duggan purchased 50,000 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was acquired at an average cost of $11.51 per share, for a total transaction of $575,500.00. Following the completion of the transaction, the insider now directly owns 5,617,752 shares of the company’s stock, valued at $64,660,325.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Robert W. Duggan purchased 15,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 5,617,752 shares of the company’s stock, valued at $61,177,319.28. The disclosure for this purchase can be found here. Insiders have acquired 160,012 shares of company stock valued at $1,796,334 in the last three months. Insiders own 8.36% of the company’s stock.
Several hedge funds have recently bought and sold shares of AKAO. Legal & General Group Plc purchased a new stake in shares of Achaogen in the second quarter valued at approximately $168,000. Ardsley Advisory Partners purchased a new position in Achaogen in the second quarter worth approximately $217,000. JPMorgan Chase & Co. grew its position in Achaogen by 691.2% in the second quarter. JPMorgan Chase & Co. now owns 11,077 shares of the biopharmaceutical company’s stock worth $240,000 after acquiring an additional 9,677 shares during the period. California Public Employees Retirement System purchased a new position in Achaogen in the second quarter worth approximately $243,000. Finally, Voya Investment Management LLC purchased a new position in Achaogen in the second quarter worth approximately $295,000. Institutional investors and hedge funds 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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