Mizuho reaffirmed their buy rating on shares of Achaogen, Inc. (NASDAQ:AKAO) in a research report released on Thursday morning. They currently have a $28.00 target price on the biopharmaceutical company’s stock.
“We believe the recent price pullback from 52-week highs presents a buying opportunity especially considering Plazomicin represents meaningful advances in the aminoglycoside class with survival benefits .”,” Mizuho’s analyst commented.
Several other brokerages also recently weighed in on AKAO. Leerink Swann reiterated an outperform rating and issued a $22.00 price target (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 price target for the company. Zacks Investment Research upgraded Achaogen from a sell rating to a hold rating and set a $27.00 price target for the company in a report on Monday, July 17th. BidaskClub downgraded Achaogen from a hold rating to a sell rating in a report on Monday, July 31st. Finally, Stifel Nicolaus reiterated a buy rating and issued a $30.00 price target 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 issued a hold rating and nine have assigned a buy rating to the company. Achaogen presently has a consensus rating of Buy and an average target price of $25.78.
Shares of Achaogen (NASDAQ:AKAO) traded down $1.36 during trading on Thursday, hitting $13.29. The company had a trading volume of 1,086,700 shares, compared to its average volume of 860,503. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.99 and a quick ratio of 6.99. Achaogen has a 1 year low of $4.26 and a 1 year high of $27.79.
Achaogen (NASDAQ:AKAO) last issued its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) 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 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 firm earned ($0.41) earnings per share. The company’s revenue for the quarter was down 96.4% on a year-over-year basis. analysts forecast that Achaogen will post -2.97 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 shares were sold at an average price of $15.99, for a total transaction of $57,180.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.36% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sigma Planning Corp grew its stake in shares of Achaogen by 9.6% during the 2nd quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock valued at $205,000 after buying an additional 825 shares during the period. Bank of Montreal Can boosted its position in Achaogen by 33.3% during the 2nd quarter. Bank of Montreal Can now owns 10,000 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 2,500 shares during the period. First Midwest Bank Trust Division boosted its position in Achaogen by 17.9% during the 2nd quarter. First Midwest Bank Trust Division now owns 20,388 shares of the biopharmaceutical company’s stock worth $443,000 after purchasing an additional 3,095 shares during the period. Bank of New York Mellon Corp boosted its position in Achaogen by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 113,783 shares of the biopharmaceutical company’s stock worth $2,871,000 after purchasing an additional 3,150 shares during the period. Finally, Essex Investment Management Co. LLC boosted its position in Achaogen by 14.4% during the 2nd quarter. Essex Investment Management Co. LLC now owns 26,330 shares of the biopharmaceutical company’s stock worth $572,000 after purchasing an additional 3,319 shares during the period. 83.81% of the stock is owned by 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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