After William Blair and Cowen & Co. gave Achaogen (NASDAQ: AKAO) a Buy rating last month, the company received another Buy, this time from Mizuho Securities. Analyst Difei Yang maintained a Buy rating on Achaogen today and set a price target of $20. The company’s shares closed yesterday at $7.05, close to its 52-week low of $6.23.
Yang noted:
“We do not see earnings as the most meaningful indicator of value for a development-stage biotech. We continue to see an attractive risk/reward opportunity in AKAO shares based on our conservative valuation of the company. ZEMDRI launched in July with a fully deployed sales force of 54 hospital account managers and 12 medical scientists.”
According to TipRanks.com, Yang is a top 100 analyst with an average return of 23.3% and a 55.1% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
Currently, the analyst consensus on Achaogen is a Strong Buy with an average price target of $17.40, implying a 146.8% upside from current levels. In a report issued on July 26, Cowen & Co. also assigned a Buy rating to the stock.
.
See today’s analyst top recommended stocks >>
The company has a one-year high of $19.74 and a one-year low of $6.23. Currently, Achaogen has an average volume of 1.12M.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is neutral on the stock. Most recently, in June 2018, Kenneth Hillan, the President of Achaogen and President of R&D of AKAO bought 177,935 shares for a total of $1,084,807.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Achaogen, Inc. is a biopharmaceutical company, which engages in the research, development, and commercialization of antibacterial treatments for multi-drug resistant (MDR) gram-negative infections. It offers Plazomicin to treat bacterial illness, such as complicated urinary tract infection, blood stream infections, and other infections due to MDR Enterobacteriaceae. The company was founded by Nathaniel E. David in June 2002 and is headquartered in South San Francisco, CA.
Read More on AKAO:
