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Achaogen (AKAO) PT Raised to $25 at William Blair

December 13, 2016 8:27 AM EST
Get Alerts AKAO Hot Sheet
Price: $0.11 --0%

Rating Summary:
    3 Buy, 9 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 10 | New: 11
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William Blair analyst Y. Katherine Xu reiterated an Outperform rating and raised her price target on Achaogen (NASDAQ: AKAO) to $25.00 (from $11.00) reported positive top-line results from the Phase III registrational studies, which exceeded expectations.

Xu commented, "EPIC demonstrated superiority for plazomicin on three of four co-primary endpoints as required by the FDA and EMA over meropenem, although the goal was noninferiority, while CARE demonstrated a 70% reduction in mortality for plazomicin over comparator colistin, the last line of defense against carbapenem-resistant Enterobacteriaceae (CRE), a strong and near-statistically significant benefit with a very small sample size. On the safety side, plazomicin appeared to be comparable to meropenem in EPIC and has demonstrated a more favorable safety profile as compared with colistin in CARE."

The analyst is also raising their probability of commercialization in the EPIC and CARE settings to 95% from 85% and 70%, respectively, and raising peak worldwide sales for plazomicin to $540 million from $350 million.

The combined efficacy and safety profile of plazomicin as demonstrated from EPIC and CARE demonstrated superiority to the current standard of care meropenem and the last line of defense to CRE colistin, which should establish plazomicin as the drug of choice for difficult-to-treat infections involving CRE, in the analyst's opinion.

For an analyst ratings summary and ratings history on Achaogen click here. For more ratings news on Achaogen click here.

Shares of Achaogen closed at $13.03 yesterday.



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