Achaogen’s (NASDAQ:AKAO) Buy Rating Reiterated at Guggenheim

Achaogen (NASDAQ:AKAO)‘s stock had its “buy” rating reaffirmed by investment analysts at Guggenheim in a research report issued on Wednesday, January 10th. They presently have a $14.00 price objective on the biopharmaceutical company’s stock. Guggenheim’s target price points to a potential upside of 35.66% from the stock’s previous close.

Several other brokerages have also issued reports on AKAO. Mizuho restated a “buy” rating and issued a $28.00 price objective on shares of Achaogen in a report on Thursday, September 28th. Leerink Swann reaffirmed an “outperform” rating and issued a $22.00 target price (down from $28.00) on shares of Achaogen in a research report on Monday, October 9th. They noted that the move was a valuation call. Stifel Nicolaus lowered their price objective on Achaogen from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Achaogen in a research report on Thursday, November 9th. Finally, Zacks Investment Research downgraded Achaogen from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Two equities 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’s stock. Achaogen has a consensus rating of “Buy” and an average price target of $25.62.

Achaogen (AKAO) traded up $0.09 during midday trading on Wednesday, hitting $10.32. The stock had a trading volume of 174,135 shares, compared to its average volume of 1,435,807. Achaogen has a fifty-two week low of $9.88 and a fifty-two week high of $27.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.99 and a current ratio of 6.99. The stock has a market cap of $455.31, a price-to-earnings ratio of -2.78 and a beta of 1.27.

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). The company had revenue of $0.58 million for the quarter, compared to analysts’ expectations of $2.09 million. Achaogen had a negative return on equity of 80.44% and a negative net margin of 593.61%. The firm’s revenue was down 96.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.41) EPS. equities research analysts expect that Achaogen will post -3.06 earnings per share for the current fiscal year.

In related news, major shareholder Robert W. Duggan purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was acquired at an average price of $10.89 per share, for a total transaction 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 $61,177,319.28. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Robert W. Duggan purchased 50,000 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were bought at an average price of $11.51 per share, with a total value of $575,500.00. Following the purchase, the insider now directly owns 5,617,752 shares of the company’s stock, valued at $64,660,325.52. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 160,012 shares of company stock valued at $1,796,334. 8.36% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in AKAO. Schwab Charles Investment Management Inc. purchased a new position in Achaogen in the second quarter worth $1,050,000. Rhumbline Advisers purchased a new position in Achaogen in the second quarter worth $711,000. State of Wisconsin Investment Board purchased a new position in Achaogen in the second quarter worth $478,000. Bank of New York Mellon Corp grew its holdings in Achaogen by 68.5% in the second quarter. Bank of New York Mellon Corp now owns 191,670 shares of the biopharmaceutical company’s stock valued at $4,165,000 after purchasing an additional 77,887 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in Achaogen in the second quarter valued at $168,000. Institutional investors and hedge funds own 85.84% 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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