Achaogen (NASDAQ:AKAO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Achaogen, Inc. is a clinical-stage biopharmaceutical company. It is focused on the discovery, development, and commercialization of novel antibacterials to treat multi-drug resistant, or MDR, gram-negative infections. The Company is developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections due to MDR enterobacteriaceae, including carbapenem-resistant enterobacteriaceae. Achaogen, Inc. is headquartered in South San Francisco, California. “
Several other brokerages also recently weighed in on AKAO. ValuEngine upgraded Achaogen from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Guggenheim restated a “buy” rating and set a $14.00 price target on shares of Achaogen in a report on Wednesday, January 10th. Mizuho restated a “buy” rating and set a $28.00 price target on shares of Achaogen in a report on Thursday, November 9th. Stifel Nicolaus cut their price target on Achaogen from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. Finally, HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Achaogen in a report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $25.62.
Achaogen (AKAO) traded up $0.13 on Wednesday, reaching $10.98. The company had a trading volume of 426,300 shares, compared to its average volume of 1,367,760. Achaogen has a 1 year low of $9.83 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 $466.33, a price-to-earnings ratio of -3.27 and a beta of 1.27.
In other Achaogen news, major shareholder Robert W. Duggan acquired 15,000 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were acquired at an average price of $10.89 per share, for a total transaction of $163,350.00. Following the acquisition, the insider now owns 5,617,752 shares in the company, valued at approximately $61,177,319.28. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Robert W. Duggan acquired 50,000 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was acquired at an average price of $11.51 per share, for a total transaction of $575,500.00. Following the acquisition, the insider now owns 5,617,752 shares in the company, valued at approximately $64,660,325.52. The disclosure for this purchase can be found here. In the last quarter, insiders bought 160,012 shares of company stock worth $1,796,334. Company insiders own 8.36% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AKAO. Clear Harbor Asset Management LLC purchased a new position in shares of Achaogen in the 4th quarter valued at about $177,000. Ellington Management Group LLC purchased a new position in shares of Achaogen in the 4th quarter valued at about $177,000. Tower Research Capital LLC TRC increased its holdings in shares of Achaogen by 375.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 18,648 shares of the biopharmaceutical company’s stock valued at $201,000 after acquiring an additional 14,725 shares during the last quarter. Ardsley Advisory Partners purchased a new position in shares of Achaogen in the 2nd quarter valued at about $217,000. Finally, JPMorgan Chase & Co. increased its holdings 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 acquiring an additional 9,677 shares during the last quarter. Institutional investors and hedge funds own 86.56% 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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