Zacks Investment Research upgraded shares of Achaogen (NASDAQ:AKAO) from a sell rating to a hold rating in a research report report published on Monday morning.

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. “

AKAO has been the subject of several other reports. Mizuho assumed coverage on Achaogen in a report on Wednesday, September 6th. They issued a buy rating and a $28.00 target price for the company. Leerink Swann reiterated 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. Guggenheim assumed coverage on Achaogen in a report on Tuesday, October 24th. They issued a buy rating and a $17.00 target price for the company. Stifel Nicolaus lowered their target price on Achaogen from $30.00 to $27.00 and set a buy rating for the company in a report on Thursday, November 9th. Finally, HC Wainwright reiterated a buy rating and issued a $25.00 target price on shares of Achaogen in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $25.78.

Shares of Achaogen (NASDAQ:AKAO) opened at $11.12 on Monday. 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.

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

In other news, COO Blake Wise sold 3,576 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $15.99, for a total value of $57,180.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.36% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in shares of Achaogen in the 2nd quarter worth $168,000. Sigma Planning Corp raised its position in shares of Achaogen by 9.6% in the 2nd quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock worth $205,000 after acquiring an additional 825 shares in the last quarter. Ardsley Advisory Partners bought a new position in shares of Achaogen in the 2nd quarter worth $217,000. Bank of Montreal Can raised its position in shares of Achaogen by 33.3% in the 2nd quarter. Bank of Montreal Can now owns 10,000 shares of the biopharmaceutical company’s stock worth $217,000 after acquiring an additional 2,500 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Achaogen by 691.2% during the 2nd 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 in the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

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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).

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