Zacks Investment Research lowered shares of Achaogen (NASDAQ:AKAO) from a hold rating to a sell rating in a research report report published on Monday.
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. “
Other analysts have also recently issued research reports about the stock. SunTrust Banks decreased their price target on shares of Achaogen to $27.00 and set a buy rating on the stock in a research note on Wednesday, January 3rd. ValuEngine upgraded shares of Achaogen from a sell rating to a hold rating in a research note on Sunday, December 31st. HC Wainwright reiterated a buy rating and issued a $25.00 price target on shares of Achaogen in a research note on Thursday, November 9th. Mizuho reiterated a buy rating and issued a $28.00 price target on shares of Achaogen in a research note on Thursday, November 30th. Finally, Stifel Nicolaus decreased their price target on shares of Achaogen from $30.00 to $27.00 and set a buy rating on the stock in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $25.62.
Achaogen (NASDAQ:AKAO) last announced its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.13). The company had revenue of $0.58 million during the quarter, compared to analysts’ expectations of $2.09 million. Achaogen had a negative return on equity of 80.44% and a negative net margin of 593.61%. The firm’s revenue for the quarter was down 96.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.41) EPS. equities analysts forecast that Achaogen will post -3.06 earnings per share for the current year.
In other Achaogen news, major shareholder Robert W. Duggan bought 95,012 shares of Achaogen stock in a transaction dated 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 acquisition, the insider now directly owns 5,602,752 shares in the company, valued at approximately $62,358,629.76. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Robert W. Duggan bought 50,000 shares of Achaogen stock in a transaction dated Friday, January 5th. The stock was acquired at an average price of $11.51 per share, for a total transaction of $575,500.00. Following the completion of the acquisition, the insider now owns 5,617,752 shares in the company, valued at $64,660,325.52. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 160,012 shares of company stock worth $1,796,334. Insiders own 8.36% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. increased its holdings in shares of Achaogen by 12.8% in the 3rd quarter. Alps Advisors Inc. now owns 41,593 shares of the biopharmaceutical company’s stock worth $663,000 after buying an additional 4,725 shares during the last quarter. Legal & General Group Plc bought a new position in Achaogen during the 2nd quarter valued at about $168,000. Wells Fargo & Company MN grew its holdings in Achaogen by 34.3% during the 3rd quarter. Wells Fargo & Company MN now owns 33,213 shares of the biopharmaceutical company’s stock valued at $530,000 after purchasing an additional 8,483 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Achaogen by 691.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,077 shares of the biopharmaceutical company’s stock valued at $240,000 after purchasing an additional 9,677 shares during the last quarter. Finally, Ardsley Advisory Partners bought a new position in Achaogen during the 2nd quarter valued at about $217,000. Hedge funds and other institutional investors own 85.84% of the company’s stock.
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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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