Achaogen, Inc. (AKAO) Earns Buy Rating from Mizuho
Mizuho reiterated their buy rating on shares of Achaogen, Inc. (NASDAQ:AKAO) in a report released on Thursday morning. They currently have a $28.00 target price on the biopharmaceutical company’s stock.
AKAO has been the subject of several other reports. BidaskClub lowered Achaogen from a buy rating to a hold rating in a research note on Monday, July 24th. Zacks Investment Research raised Achaogen from a sell rating to a hold rating and set a $27.00 price objective on the stock in a research note on Monday, July 17th. ValuEngine raised Achaogen from a sell rating to a hold rating in a research note on Friday, June 2nd. HC Wainwright began coverage on Achaogen in a report on Thursday, June 15th. They set a buy rating and a $29.00 target price for the company. Finally, Stifel Nicolaus reiterated a buy rating and set a $30.00 target price on shares of Achaogen in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Achaogen currently has a consensus rating of Buy and an average target price of $27.68.
Shares of Achaogen (AKAO) opened at 15.95 on Thursday. The stock’s market capitalization is $673.62 million. The company’s 50-day moving average is $17.84 and its 200 day moving average is $21.63. Achaogen has a 52 week low of $3.68 and a 52 week high of $27.79.
Achaogen (NASDAQ:AKAO) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.18). Achaogen had a negative net margin of 281.88% and a negative return on equity of 86.24%. The firm had revenue of $1.30 million during the quarter, compared to analyst estimates of $2.69 million. During the same quarter in the previous year, the business posted ($0.87) EPS. Achaogen’s revenue was down 85.7% compared to the same quarter last year. On average, equities analysts forecast that Achaogen will post ($3.04) EPS for the current fiscal year.
In related news, COO Blake Wise sold 3,576 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was 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 SEC, which can be accessed through this hyperlink. 8.36% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in AKAO. Bank of Montreal Can lifted its position in Achaogen by 25.0% during the 1st quarter. Bank of Montreal Can now owns 7,500 shares of the biopharmaceutical company’s stock worth $189,000 after acquiring an additional 1,500 shares in the last quarter. Bank of New York Mellon Corp grew its position in Achaogen by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 113,783 shares of the biopharmaceutical company’s stock valued at $2,871,000 after acquiring an additional 3,150 shares in the last quarter. TD Asset Management Inc. acquired a new stake in Achaogen in the first quarter valued at approximately $1,217,000. Parametric Portfolio Associates LLC grew its position in Achaogen by 119.1% in the first 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 in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Achaogen in the first quarter valued at approximately $1,114,000. 84.15% of the stock is currently owned by hedge funds and other institutional investors.
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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