NetworkNewsBreaks – Mizuho Securities Reiterates ‘Buy’ Rating on Achaogen, Inc. (NASDAQ: AKAO)
Mizuho Securities USA LLC has reiterated its ‘Buy’ rating and price target of $28 on shares of Achaogen, Inc.’s (NASDAQ: AKAO) stock after the company yesterday said that it has been awarded a contract valued at up to $18 million in funding from the Biomedical Advanced Research and Development Authority (BARDA). The funding will support the development of C-Scape, Achaogen’s product candidate being developed to treat serious bacterial infections due to extended spectrum beta-lactamase (ESBL)-producing Enterobacteriaceae. The BARDA contract comprises of $12 million of funding through a nine-month base period and additional option periods worth around $6 million. The analyst…







