Achaogen, Inc. (AKAO) Expected to Post Quarterly Sales of $2.30 Million
Equities research analysts expect Achaogen, Inc. (NASDAQ:AKAO) to post $2.30 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Achaogen’s earnings, with estimates ranging from $740,000.00 to $5.73 million. Achaogen posted sales of $9.14 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 74.8%. The firm is expected to announce its next quarterly earnings report on Monday, August 14th.
According to Zacks, analysts expect that Achaogen will report full-year sales of $2.30 million for the current financial year, with estimates ranging from $7.50 million to $20.31 million. For the next financial year, analysts forecast that the firm will post sales of $15.29 million per share, with estimates ranging from $3.80 million to $25.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Achaogen.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.93) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by $0.39. Achaogen had a negative net margin of 212.71% and a negative return on equity of 119.78%. The company had revenue of $7.46 million for the quarter, compared to analyst estimates of $3.81 million. During the same quarter last year, the company earned ($0.66) EPS. The business’s revenue was up 27.7% compared to the same quarter last year.
Several brokerages have recently weighed in on AKAO. Aegis lowered Achaogen from a “buy” rating to a “hold” rating and set a $29.00 target price on the stock. in a research report on Thursday, March 30th. Zacks Investment Research raised Achaogen from a “sell” rating to a “hold” rating and set a $27.00 target price on the stock in a research report on Monday, July 17th. BidaskClub raised Achaogen from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. ValuEngine raised Achaogen from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Wedbush reissued an “outperform” rating and set a $28.00 target price on shares of Achaogen in a research report on Monday, April 24th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $25.98.
Achaogen (NASDAQ:AKAO) opened at 21.90 on Friday. Achaogen has a 12-month low of $3.55 and a 12-month high of $27.79. The firm’s market cap is $785.18 million. The stock’s 50 day moving average is $22.63 and its 200 day moving average is $21.87.
In other Achaogen news, CFO Tobin Schilke sold 2,066 shares of Achaogen stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $21.53, for a total transaction of $44,480.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 13.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in Achaogen by 25.0% in the first quarter. Bank of Montreal Can now owns 7,500 shares of the biopharmaceutical company’s stock valued at $189,000 after buying an additional 1,500 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Achaogen during the first quarter valued at approximately $199,000. Sigma Planning Corp purchased a new position in Achaogen during the first quarter valued at approximately $218,000. Fox Run Management L.L.C. purchased a new position in Achaogen during the first quarter valued at approximately $240,000. Finally, Beacon Financial Group purchased a new position in Achaogen during the first quarter valued at approximately $251,000. 69.75% of the stock is currently owned by institutional investors.
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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