Guggenheim Begins Coverage on Achaogen, Inc. (AKAO) With A Rating Of “Buy”


Achaogen, Inc. (NASDAQ:AKAO).

Empire Asset Management began coverage of the stock with a rating of “Sell”. Equity analyst Guggenheim starting coverage on AKAO with an initial rating of “Buy”.

On October 24 analysts at Guggenheim initiated coverage on the stock by announcing an initial rating of “Buy”. On September 7, 2017 Mizuho released its first research report on the stock setting a rating of “Buy”.

The company is trading up by 0.45%% since yesterday’s close of 13.35. Company shares last traded at $13.41 impressively lower than $15.48, the stock’s 50 day moving average and which is well below the 200 day moving average of $20.07. The 50 day moving average went down by -13.40% whereas the 200 day moving average was down $-6.66 or -33.17%.

Achaogen, Inc., launched on November 26, 2002, is a late-stage biopharmaceutical company. The Company is involved in the discovery, development and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections. The Company is involved in researching and developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections, including complicated urinary tract infection (cUTI), blood stream infections and other infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae (CRE). Plazomicin is an intravenous aminoglycoside antibiotic. The Company has developed plazomicin by chemically modifying sisomicin, a naturally occurring aminoglycoside, in order to overcome common aminoglycoside resistance mechanisms..

As of the last earnings report the EPS was $-3.10 and is estimated to be $-3.01 for the current year with 42,233,000 shares presently outstanding. Next quarter’s EPS is expected be $-0.73 and the next full year EPS is projected to be $-2.79.

Traders are more bearish on shares of the company recently at least if you consider the motion in short interest. The company saw a rise in short interest of 1.87% between September 15, 2017 and September 29, 2017. Short shares grew from 7,415,883 to 7,554,467 over that period. Days to cover increased 2.0 to 13.0 and the short interest percentage is 0.20% as of September 29.