Cantor Fitzgerald Starts Achaogen (AKAO) at Buy

Cantor Fitzgerald initiated coverage on Achaogen (NASDAQ: AKAO) with a Buy rating and a price target of $13.00.

Analyst Daniel Brims said, "We are initiating coverage of Achaogen (AKAO) with a BUY rating and a $13 price target, based on Plazomicin’s expected revenues of $160M worldwide in 2025. AKAO has initiated a phase 3 trial to support approval in both pneumonia and bloodstream infection, which we expect to read out in 1H17. We forecast commercial launch of Plazomicin in 2018. Beyond Plazomicin, AKAO has preclinical assets, including an LpxC inhibitor, which we have not factored into our valuation but are a source of additional upside potential to our valuation."

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 $9.54 yesterday.

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