Leerink Swann Brokers Raise Earnings Estimates for Achaogen (AKAO)

Achaogen (NASDAQ:AKAO) – Leerink Swann boosted their Q1 2018 earnings per share estimates for Achaogen in a research report issued on Monday, April 16th. Leerink Swann analyst A. Fadia now forecasts that the biopharmaceutical company will post earnings per share of ($0.85) for the quarter, up from their prior estimate of ($0.94). Leerink Swann has a “Outperform” rating on the stock. Leerink Swann also issued estimates for Achaogen’s Q2 2018 earnings at ($0.98) EPS, Q3 2018 earnings at ($1.01) EPS, Q4 2018 earnings at ($0.82) EPS, FY2018 earnings at ($3.66) EPS, FY2019 earnings at ($1.72) EPS and FY2020 earnings at ($0.21) EPS.

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Other analysts also recently issued research reports about the stock. HC Wainwright boosted their price objective on shares of Achaogen from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Stifel Nicolaus decreased their price objective on shares of Achaogen from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective (down previously from $29.00) on shares of Achaogen in a report on Wednesday, February 28th. Guggenheim reissued a “buy” rating and set a $14.00 price objective on shares of Achaogen in a report on Wednesday, January 10th. Finally, Mizuho restated a “buy” rating and set a $28.00 target price on shares of Achaogen in a research report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. Achaogen presently has a consensus rating of “Buy” and a consensus price target of $23.56.

AKAO stock opened at $13.01 on Wednesday. The stock has a market cap of $551.91, a P/E ratio of -4.10 and a beta of 1.04. Achaogen has a 52 week low of $9.83 and a 52 week high of $27.49. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 0.08.

Achaogen (NASDAQ:AKAO) last issued its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.98) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.77) by ($0.21). The firm had revenue of $1.87 million during the quarter, compared to analysts’ expectations of $1.18 million. Achaogen had a negative net margin of 1,124.10% and a negative return on equity of 83.14%.

In other news, major shareholder Robert W. Duggan bought 527,396 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was acquired at an average cost of $10.31 per share, for a total transaction of $5,437,452.76. Following the completion of the purchase, the insider now owns 5,697,752 shares of the company’s stock, valued at $58,743,823.12. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Robert W. Duggan bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was purchased at an average price of $10.96 per share, with a total value of $109,600.00. Following the completion of the purchase, the insider now directly owns 5,668,310 shares of the company’s stock, valued at approximately $62,124,677.60. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 810,717 shares of company stock valued at $8,739,717 and have sold 10,089 shares valued at $110,576. Corporate insiders own 8.36% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN increased its holdings in shares of Achaogen by 34.3% in the 3rd quarter. Wells Fargo & Company MN now owns 33,213 shares of the biopharmaceutical company’s stock worth $530,000 after acquiring an additional 8,483 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Achaogen by 154.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 122,684 shares of the biopharmaceutical company’s stock valued at $1,957,000 after purchasing an additional 74,384 shares in the last quarter. Hikari Power Ltd boosted its position in shares of Achaogen by 100.0% during the 4th quarter. Hikari Power Ltd now owns 60,000 shares of the biopharmaceutical company’s stock valued at $644,000 after purchasing an additional 30,000 shares in the last quarter. Clear Harbor Asset Management LLC bought a new position in shares of Achaogen during the 4th quarter valued at about $177,000. Finally, Engineers Gate Manager LP bought a new position in shares of Achaogen during the 4th quarter valued at about $412,000. Hedge funds and other institutional investors own 77.37% of the company’s stock.

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About Achaogen

Achaogen, Inc, a late-stage biopharmaceutical company, focusses on the discovery, development, and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections in the United States. The company is principally developing plazomicin for the treatment of serious bacterial infections, including urinary tract infections, blood stream infections, and other infections due to MDR enterobacteriaceae comprising carbapenem-resistant enterobacteriaceae.

Earnings History and Estimates for Achaogen (NASDAQ:AKAO)

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