Achaogen (AKAO) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Achaogen (NASDAQ:AKAO) from a hold rating to a buy rating in a report issued on Tuesday, Zacks.com reports. Zacks Investment Research currently has $0.25 price objective on the biopharmaceutical company’s stock.

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 research analysts have also issued reports about the company. Needham & Company LLC reiterated a hold rating on shares of Achaogen in a report on Friday, March 29th. HC Wainwright reiterated a hold rating and set a $2.00 target price on shares of Achaogen in a report on Thursday, February 21st. Mizuho reiterated a hold rating and set a $3.00 target price on shares of Achaogen in a report on Friday, February 15th. Finally, ValuEngine upgraded Achaogen from a sell rating to a hold rating in a report on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $8.09.

NASDAQ:AKAO opened at $0.16 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 1.00. Achaogen has a 12-month low of $0.14 and a 12-month high of $15.00.

In other Achaogen news, major shareholder Robert W. Duggan sold 520,102 shares of Achaogen stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $0.63, for a total transaction of $327,664.26. Following the transaction, the insider now directly owns 8,667,207 shares in the company, valued at $5,460,340.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Robert W. Duggan sold 1,277,888 shares of Achaogen stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $0.54, for a total value of $690,059.52. Following the transaction, the insider now owns 6,561,423 shares in the company, valued at $3,543,168.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,431,887 shares of company stock worth $2,589,886. Corporate insiders own 7.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AKAO. Foresite Capital Management III LLC raised its stake in shares of Achaogen by 20.6% in the 4th quarter. Foresite Capital Management III LLC now owns 2,864,664 shares of the biopharmaceutical company’s stock valued at $3,524,000 after purchasing an additional 490,246 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Achaogen by 2,745.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 294,768 shares of the biopharmaceutical company’s stock valued at $1,176,000 after purchasing an additional 284,407 shares during the period. Fosun International Ltd acquired a new stake in shares of Achaogen in the 4th quarter valued at about $360,000. Deutsche Bank AG raised its stake in shares of Achaogen by 94.5% in the 4th quarter. Deutsche Bank AG now owns 392,478 shares of the biopharmaceutical company’s stock valued at $482,000 after purchasing an additional 190,715 shares during the period. Finally, Vanguard Group Inc raised its stake in shares of Achaogen by 8.4% in the 3rd quarter. Vanguard Group Inc now owns 1,675,848 shares of the biopharmaceutical company’s stock valued at $6,687,000 after purchasing an additional 129,804 shares during the period. 31.77% of the stock is currently owned by hedge funds and other institutional investors.

About Achaogen

Achaogen, Inc, a late-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections in the United States. The company is principally developing plazomicin for the treatment of serious bacterial infections, including urinary tract infections, blood stream infections, and other infections due to MDR enterobacteriaceae comprising carbapenem-resistant enterobacteriaceae.

Further Reading: What is diluted earnings per share (Diluted EPS)?

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