Achaogen, Inc. (AKAO) Downgraded to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of Achaogen, Inc. (NASDAQ:AKAO) from a hold rating to a sell rating in a research note released on Tuesday 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 a number of other reports. BidaskClub cut shares of Achaogen from a buy rating to a hold rating in a research report on Monday, July 24th. Leerink Swann reiterated an outperform rating and set a $22.00 price target (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. Guggenheim assumed coverage on shares of Achaogen in a research report on Tuesday, October 24th. They set a buy rating and a $17.00 price target for the company. Mizuho assumed coverage on shares of Achaogen in a research note on Wednesday, September 6th. They issued a buy rating and a $28.00 price objective for the company. Finally, Stifel Nicolaus reissued a buy rating and issued a $30.00 price objective on shares of Achaogen in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Achaogen currently has a consensus rating of Buy and an average target price of $25.78.
Shares of Achaogen (AKAO) traded down $1.09 on Tuesday, hitting $11.92. 1,235,100 shares of the company’s stock were exchanged, compared to its average volume of 860,774. Achaogen has a 1-year low of $4.67 and a 1-year high of $27.79. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.08.
Achaogen (NASDAQ:AKAO) last announced its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.13). Achaogen had a negative net margin of 593.61% and a negative return on equity of 80.44%. The company had revenue of $0.58 million for the quarter, compared to analyst estimates of $2.09 million. During the same quarter in the prior year, the business earned ($0.41) earnings per share. Achaogen’s revenue was down 96.4% on a year-over-year basis. equities research analysts predict that Achaogen will post -3.14 earnings per share for the current fiscal year.
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In other news, COO Blake Wise sold 3,576 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total transaction of $57,180.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.36% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC increased its holdings in shares of Achaogen by 119.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 51,359 shares of the biopharmaceutical company’s stock valued at $1,296,000 after acquiring an additional 27,914 shares during the period. Vanguard Group Inc. increased its holdings in shares of Achaogen by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 1,066,701 shares of the biopharmaceutical company’s stock valued at $26,913,000 after acquiring an additional 107,406 shares during the period. Geode Capital Management LLC increased its stake in Achaogen by 18.6% in the 1st quarter. Geode Capital Management LLC now owns 166,055 shares of the biopharmaceutical company’s stock valued at $4,189,000 after buying an additional 26,100 shares during the period. UBS Group AG increased its stake in Achaogen by 1,183.2% in the 1st quarter. UBS Group AG now owns 45,488 shares of the biopharmaceutical company’s stock valued at $1,148,000 after buying an additional 41,943 shares during the period. Finally, Morgan Stanley increased its stake in Achaogen by 117.9% in the 1st quarter. Morgan Stanley now owns 43,698 shares of the biopharmaceutical company’s stock valued at $1,103,000 after buying an additional 23,644 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.
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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