Mizuho Securities analyst Difei Yang maintained a Hold rating on Achaogen (AKAO) today and set a price target of $3. The company’s shares closed yesterday at $1.42, close to its 52-week low of $1.14.
Yang said:
“We see significant risk in Achaogen even though we believe ZEMDRI is a positively differentiated product with strategic value. We reduce our 2019 revenue from ~ $27mn to ~$14mn; reiterate Neutral and $3 PT.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 16.4% and a 46.8% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.
Achaogen has an analyst consensus of Hold.
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Based on Achaogen’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $41.79 million. In comparison, last year the company had a GAAP net loss of $36.38 million.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AKAO in relation to earlier this year.
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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.
