Guggenheim restated their buy rating on shares of Achaogen (NASDAQ:AKAO) in a research report released on Wednesday morning. They currently have a $14.00 target price on the biopharmaceutical company’s stock.
AKAO has been the topic of a number of other research reports. Leerink Swann restated an outperform rating and set a $22.00 price target (down previously from $28.00) on shares of Achaogen in a report on Monday, October 9th. They noted that the move was a valuation call. Zacks Investment Research upgraded Achaogen from a sell rating to a hold rating in a report on Monday, December 11th. Mizuho restated a buy rating and set a $28.00 price target on shares of Achaogen in a report on Thursday, September 28th. Stifel Nicolaus reduced their price target on Achaogen from $30.00 to $27.00 and set a buy rating on the stock in a report on Thursday, November 9th. Finally, HC Wainwright restated a buy rating and set a $25.00 price target on shares of Achaogen in a 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 given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $25.62.
Achaogen (NASDAQ AKAO) traded down $0.48 on Wednesday, hitting $11.94. The stock had a trading volume of 1,360,000 shares, compared to its average volume of 1,290,000. The stock has a market capitalization of $506.18, a P/E ratio of -3.55 and a beta of 1.35. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.99 and a current ratio of 6.99. Achaogen has a 1 year low of $10.24 and a 1 year high of $27.79.
In other news, major shareholder Robert W. Duggan acquired 50,000 shares of the business’s stock in a transaction on Friday, January 5th. The shares were acquired at an average cost of $11.51 per share, with a total value of $575,500.00. Following the transaction, the insider now owns 5,617,752 shares in the company, valued at approximately $64,660,325.52. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Robert W. Duggan acquired 95,012 shares of the business’s stock in a transaction on Monday, December 18th. The shares were purchased at an average cost of $11.13 per share, for a total transaction of $1,057,483.56. Following the completion of the transaction, the insider now owns 5,602,752 shares in the company, valued at approximately $62,358,629.76. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 160,012 shares of company stock worth $1,796,334. Insiders own 8.36% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. boosted its position in Achaogen by 55.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,255,899 shares of the biopharmaceutical company’s stock valued at $35,982,000 after acquiring an additional 806,899 shares in the last quarter. Artal Group S.A. boosted its position in Achaogen by 25.0% during the 3rd quarter. Artal Group S.A. now owns 250,000 shares of the biopharmaceutical company’s stock valued at $3,988,000 after acquiring an additional 50,000 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Achaogen by 68.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 191,670 shares of the biopharmaceutical company’s stock valued at $4,165,000 after acquiring an additional 77,887 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new stake in Achaogen during the 2nd quarter valued at approximately $1,050,000. Finally, Bank of Nova Scotia bought a new stake in Achaogen during the 2nd quarter valued at approximately $1,740,000. 85.74% of the stock is currently owned by institutional investors and hedge funds.
Achaogen Company Profile
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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