Achaogen Inc (AKAO) Given New $29.00 Price Target at Needham & Company LLC

Cornelia Mascio
Marzo 9, 2017

Needham & Company LLC raised Achaogen from a hold rating to a buy rating and set a $19.00 target price for the company in a research report on Monday, December 12th. Ten investment analysts have rated the stock with a buy rating, Achaogen now has an average rating of "Buy" and a consensus price target of $24.76.

A number of other equities research analysts have also recently issued reports on the company. Vetr lowered shares of Achaogen from a strong-buy rating to a buy rating and set a $25.80 target price on the stock.in a research note on Wednesday, February 22nd. Aegis upped their target price on shares of Achaogen from $20.00 to $29.00 and gave the stock a buy rating in a research note on Thursday, February 23rd. Zacks Investment Research cut Achaogen from a buy rating to a hold rating in a research report on Tuesday, January 10th. Wedbush raised their price objective on Achaogen from $23.00 to $28.00 and gave the stock an "outperform" rating in a research report on Monday. They now have a $28.00 price target on the biopharmaceutical company's stock, up from their prior price target of $23.00. Ten research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and a consensus target price of $24.76.

Achaogen (NASDAQ:AKAO) traded up 3.55% during trading on Monday, hitting $25.94. Achaogen has a 12 month low of $2.59 and a 12 month high of $26.29.

The stock's market cap is $701.10 million. The stock's 50 day moving average is $20.28 and its 200-day moving average is $10.31.

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In other Achaogen news, major shareholder Equity Opportunities Iv Growth acquired 500,000 shares of Achaogen stock in a transaction dated Monday, December 19th. The shares were purchased at an average price of $13.50 per share, with a total value of $6,750,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 4,383 shares of company stock worth $73,547.

Institutional investors have recently made changes to their positions in the stock. Foresite Capital Management III LLC purchased a new stake in Achaogen during the fourth quarter worth approximately $33,956,000. Finally, Nicholas Investment Partners LP bought a new position in shares of Achaogen during the fourth quarter valued at about $2,072,000. Paulson & CO. Inc. bought a new stake in Achaogen during the fourth quarter worth approximately $944,000. Bogle Investment Management L P DE bought a new stake in Achaogen during the fourth quarter worth approximately $4,421,000. Finally, Baker BROS. Advisors LP bought a new position in shares of Achaogen during the third quarter valued at approximately $479,000. Institutional investors own 44.47% of the company's stock.

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