Achaogen, Inc. (NASDAQ:AKAO)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Leerink Swann in a research report issued on Monday. They presently have a $22.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $28.00. Leerink Swann’s price objective indicates a potential upside of 56.58% from the company’s current price. The analysts noted that the move was a valuation call.
Several other analysts also recently weighed in on AKAO. HC Wainwright started coverage on shares of Achaogen in a report on Thursday, June 15th. They issued a “buy” rating and a $29.00 target price on the stock. BidaskClub raised shares of Achaogen from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Zacks Investment Research downgraded shares of Achaogen from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 target price on shares of Achaogen in a report on Friday, August 4th. Finally, Mizuho started coverage on shares of Achaogen in a report on Wednesday, September 6th. They issued a “buy” rating and a $28.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $27.78.
Shares of Achaogen (NASDAQ:AKAO) opened at 14.05 on Monday. The stock’s market capitalization is $593.37 million. Achaogen has a 1-year low of $3.68 and a 1-year high of $27.79. The stock’s 50 day moving average is $16.84 and its 200 day moving average is $20.76.
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 Thomson Reuters’ consensus estimate of ($0.60) by ($0.18). The firm had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $2.69 million. Achaogen had a negative net margin of 281.88% and a negative return on equity of 86.24%. The firm’s revenue was down 85.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.87) EPS. On average, equities analysts forecast that Achaogen will post ($3.01) EPS for the current year.
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In related news, COO Blake Wise sold 3,576 shares of the business’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total transaction of $57,180.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.36% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Ardsley Advisory Partners purchased a new stake in Achaogen during the second quarter worth about $217,000. Lord Abbett & CO. LLC boosted its holdings in Achaogen by 153.2% during the second quarter. Lord Abbett & CO. LLC now owns 435,953 shares of the biopharmaceutical company’s stock worth $9,473,000 after buying an additional 263,799 shares in the last quarter. California State Teachers Retirement System purchased a new stake in Achaogen during the second quarter worth about $1,117,000. Bank of Nova Scotia purchased a new stake in Achaogen during the second quarter worth about $1,740,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Achaogen by 1,743.3% during the second quarter. The Manufacturers Life Insurance Company now owns 23,225 shares of the biopharmaceutical company’s stock worth $505,000 after buying an additional 21,965 shares in the last quarter. 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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