Wall Street analysts forecast that Achaogen, Inc. (NASDAQ:AKAO) will announce sales of $1.78 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Achaogen’s earnings. The lowest sales estimate is $800,000.00 and the highest is $4.80 million. Achaogen posted sales of $10.73 million in the same quarter last year, which suggests a negative year-over-year growth rate of 83.4%. The business is scheduled to issue its next earnings report on Tuesday, March 13th.
On average, analysts expect that Achaogen will report full year sales of $1.78 million for the current fiscal year, with estimates ranging from $9.30 million to $14.20 million. For the next year, analysts anticipate that the business will report sales of $14.57 million per share, with estimates ranging from $5.00 million to $25.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Achaogen.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.13). Achaogen had a negative return on equity of 80.44% and a negative net margin of 593.61%. The firm had revenue of $0.58 million for the quarter, compared to the consensus estimate of $2.09 million. During the same period in the previous year, the company posted ($0.41) EPS. Achaogen’s quarterly revenue was down 96.4% compared to the same quarter last year.
AKAO has been the topic of a number of recent research reports. BidaskClub raised Achaogen from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd. Mizuho initiated coverage on Achaogen in a research report on Wednesday, September 6th. They set a “buy” rating and a $28.00 price objective on the stock. Leerink Swann reaffirmed an “outperform” rating and set a $22.00 price objective (down previously from $28.00) on shares of Achaogen in a research report on Monday, October 9th. They noted that the move was a valuation call. Guggenheim initiated coverage on Achaogen in a research report on Tuesday, October 24th. They set a “buy” rating and a $17.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Achaogen in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Achaogen currently has a consensus rating of “Buy” and an average price target of $25.78.
In related news, COO Blake Wise sold 3,576 shares of Achaogen stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $15.99, for a total transaction of $57,180.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.36% of the company’s stock.
A number of hedge funds have recently made changes to their positions in AKAO. State Street Corp raised its position in Achaogen by 302.6% during the second quarter. State Street Corp now owns 1,677,097 shares of the biopharmaceutical company’s stock valued at $36,444,000 after acquiring an additional 1,260,509 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Achaogen by 55.7% in the third quarter. Point72 Asset Management L.P. now owns 2,255,899 shares of the biopharmaceutical company’s stock valued at $35,982,000 after purchasing an additional 806,899 shares during the period. TimesSquare Capital Management LLC grew its holdings in Achaogen by 106.7% in the second quarter. TimesSquare Capital Management LLC now owns 1,088,300 shares of the biopharmaceutical company’s stock valued at $23,649,000 after purchasing an additional 561,700 shares during the period. Franklin Resources Inc. acquired a new stake in Achaogen in the second quarter valued at approximately $8,692,000. Finally, Vanguard Group Inc. grew its holdings in Achaogen by 32.2% in the second quarter. Vanguard Group Inc. now owns 1,410,129 shares of the biopharmaceutical company’s stock valued at $30,641,000 after purchasing an additional 343,428 shares during the period. Institutional investors own 85.74% of the company’s stock.
Achaogen (NASDAQ AKAO) opened at $10.78 on Wednesday. Achaogen has a 12-month low of $10.24 and a 12-month high of $27.79. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.08.
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Achaogen Company Profile
Achaogen, Inc is a late-stage biopharmaceutical company. The Company is engaged 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).
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