Zacks Investment Research Lowers Achaogen (AKAO) to Sell

Achaogen (NASDAQ:AKAO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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. “

A number of other analysts have also recently issued reports on the company. Mizuho reissued a “buy” rating and issued a $28.00 target price on shares of Achaogen in a research report on Monday, October 30th. Guggenheim initiated coverage on Achaogen in a research report on Tuesday, October 24th. They issued a “buy” rating and a $17.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Achaogen in a research report on Thursday, November 9th. ValuEngine raised Achaogen from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Stifel Nicolaus decreased their target price on Achaogen from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $25.62.

Shares of Achaogen (NASDAQ AKAO) traded up $0.13 during midday trading on Wednesday, hitting $10.98. The company had a trading volume of 426,300 shares, compared to its average volume of 1,367,760. The firm has a market cap of $466.33, a PE ratio of -3.27 and a beta of 1.27. 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 has a 1 year low of $9.83 and a 1 year high of $27.79.

In related news, major shareholder Robert W. Duggan acquired 95,012 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was bought at an average cost of $11.13 per share, with a total value of $1,057,483.56. Following the transaction, the insider now owns 5,602,752 shares of the company’s stock, valued at $62,358,629.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Robert W. Duggan acquired 50,000 shares of the firm’s stock in a transaction on Friday, January 5th. The shares were bought at an average cost of $11.51 per share, with a total value of $575,500.00. Following the completion of the transaction, the insider now directly owns 5,617,752 shares in the company, valued at approximately $64,660,325.52. The disclosure for this purchase can be found here. Insiders have acquired a total of 160,012 shares of company stock valued at $1,796,334 over the last ninety days. 8.36% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of AKAO. Clear Harbor Asset Management LLC acquired a new stake in Achaogen during the 4th quarter worth approximately $177,000. Ellington Management Group LLC acquired a new stake in Achaogen during the 4th quarter worth approximately $177,000. Tower Research Capital LLC TRC lifted its position in Achaogen by 375.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 18,648 shares of the biopharmaceutical company’s stock worth $201,000 after acquiring an additional 14,725 shares during the period. Ardsley Advisory Partners acquired a new stake in shares of Achaogen in the 2nd quarter valued at approximately $217,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Achaogen by 691.2% in 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 during the period. 86.56% of the stock is owned by 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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