Achaogen (AKAO) Cut to Market Perform at Cowen

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Achaogen (NASDAQ:AKAO) was downgraded by investment analysts at Cowen from an “outperform” rating to a “market perform” rating in a report issued on Friday, The Fly reports.

A number of other analysts have also commented on the company. Stifel Nicolaus boosted their price objective on Achaogen from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. ValuEngine raised Achaogen from a “sell” rating to a “hold” rating in a report on Friday, September 7th. SunTrust Banks decreased their price objective on Achaogen from $16.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 20th. Zacks Investment Research raised Achaogen from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a report on Wednesday, October 10th. Finally, Needham & Company LLC lowered Achaogen from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Achaogen presently has a consensus rating of “Hold” and a consensus price target of $14.81.

Achaogen stock traded down $0.34 during midday trading on Friday, reaching $2.31. The stock had a trading volume of 2,783 shares, compared to its average volume of 559,764. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.79 and a quick ratio of 3.79. The firm has a market capitalization of $146.93 million, a price-to-earnings ratio of -0.76 and a beta of 0.67. Achaogen has a 12 month low of $2.10 and a 12 month high of $15.00.

Achaogen (NASDAQ:AKAO) last issued its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.22. The firm had revenue of $2.00 million during the quarter, compared to analyst estimates of $3.80 million. Achaogen had a negative return on equity of 146.50% and a negative net margin of 2,286.21%. On average, sell-side analysts expect that Achaogen will post -3.74 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in AKAO. BlackRock Inc. grew its holdings in shares of Achaogen by 2.1% in the first quarter. BlackRock Inc. now owns 2,898,459 shares of the biopharmaceutical company’s stock valued at $37,536,000 after acquiring an additional 60,613 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Achaogen by 81.8% in the first quarter. Allianz Asset Management GmbH now owns 92,781 shares of the biopharmaceutical company’s stock valued at $1,202,000 after acquiring an additional 41,746 shares in the last quarter. Sei Investments Co. bought a new position in shares of Achaogen in the second quarter valued at approximately $423,000. Wedbush Securities Inc. grew its holdings in shares of Achaogen by 266.7% in the second quarter. Wedbush Securities Inc. now owns 91,850 shares of the biopharmaceutical company’s stock valued at $795,000 after acquiring an additional 66,800 shares in the last quarter. Finally, Gabelli Funds LLC grew its holdings in shares of Achaogen by 18.6% in the second quarter. Gabelli Funds LLC now owns 206,400 shares of the biopharmaceutical company’s stock valued at $1,787,000 after acquiring an additional 32,400 shares in the last quarter. 60.17% of the stock is owned by 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.

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