Zacks Investment Research upgraded shares of Achaogen (NASDAQ:AKAO) from a strong sell rating to a hold rating in a research report sent to investors on Thursday 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. “

Other equities research analysts have also issued research reports about the stock. BidaskClub raised shares of Achaogen from a hold rating to a buy rating in a research note on Monday, June 18th. Needham & Company LLC reissued a buy rating and set a $20.00 target price on shares of Achaogen in a research note on Monday, April 30th. HC Wainwright reissued a buy rating and set a $29.00 target price (up previously from $19.00) on shares of Achaogen in a research note on Monday, April 30th. SunTrust Banks decreased their target price on shares of Achaogen to $16.00 and set a buy rating for the company in a research note on Friday, May 4th. Finally, Mizuho reissued a buy rating on shares of Achaogen in a research note on Thursday, May 3rd. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $19.62.

Shares of NASDAQ:AKAO opened at $6.21 on Thursday. The firm has a market cap of $286.63 million, a price-to-earnings ratio of -1.96 and a beta of 0.83. Achaogen has a 12-month low of $6.16 and a 12-month high of $19.74. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.79 and a quick ratio of 7.01.

Achaogen (NASDAQ:AKAO) last issued its earnings results on Monday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.19). The company had revenue of $2.56 million for the quarter, compared to analyst estimates of $1.49 million. Achaogen had a negative net margin of 2,286.21% and a negative return on equity of 146.50%. equities analysts forecast that Achaogen will post -3.67 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of Achaogen by 2.1% in the 1st quarter. BlackRock Inc. now owns 2,898,459 shares of the biopharmaceutical company’s stock valued at $37,536,000 after purchasing an additional 60,613 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Achaogen by 13.2% in the 1st quarter. Citigroup Inc. now owns 105,197 shares of the biopharmaceutical company’s stock valued at $1,362,000 after purchasing an additional 12,248 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Achaogen in the 1st quarter valued at $207,000. Gabelli Funds LLC lifted its stake in shares of Achaogen by 181.6% in the 1st quarter. Gabelli Funds LLC now owns 174,000 shares of the biopharmaceutical company’s stock valued at $2,253,000 after purchasing an additional 112,200 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its stake in shares of Achaogen by 29.0% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 222,555 shares of the biopharmaceutical company’s stock valued at $2,882,000 after purchasing an additional 50,000 shares during the last quarter. 68.74% of the stock is owned by institutional investors and hedge funds.

Achaogen Company Profile

Achaogen, Inc, a late-stage biopharmaceutical company, focusses on the discovery, development, and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections in the United States. The company is principally developing plazomicin for the treatment of serious bacterial infections, including urinary tract infections, blood stream infections, and other infections due to MDR enterobacteriaceae comprising carbapenem-resistant enterobacteriaceae.

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