Achaogen, Inc. (AKAO) Expected to Post Quarterly Sales of $1.69 Million
Analysts expect that Achaogen, Inc. (NASDAQ:AKAO) will post sales of $1.69 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Achaogen’s earnings, with estimates ranging from $1.00 million to $4.15 million. Achaogen reported sales of $16.05 million in the same quarter last year, which would suggest a negative year over year growth rate of 89.5%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that Achaogen will report full year sales of $1.69 million for the current financial year, with estimates ranging from $8.70 million to $15.85 million. For the next fiscal year, analysts expect that the firm will report sales of $15.45 million per share, with estimates ranging from $4.87 million to $25.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Achaogen.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.18). The company had revenue of $1.30 million during the quarter, compared to analyst estimates of $2.69 million. Achaogen had a negative net margin of 281.88% and a negative return on equity of 86.24%. The firm’s revenue for the quarter was down 85.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.87) EPS.
A number of brokerages recently issued reports on AKAO. BidaskClub cut Achaogen from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Stifel Nicolaus reissued a “buy” rating and set a $30.00 price objective on shares of Achaogen in a report on Friday, August 4th. ValuEngine raised Achaogen from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised Achaogen from a “sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a report on Monday, July 17th. Finally, HC Wainwright began coverage on Achaogen in a report on Thursday, June 15th. They set a “buy” rating and a $29.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $26.07.
Achaogen (NASDAQ:AKAO) opened at 16.49 on Friday. The company has a 50-day moving average price of $18.01 and a 200-day moving average price of $21.79. The firm’s market cap is $696.42 million. Achaogen has a 1-year low of $3.68 and a 1-year high of $27.79.
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Large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its holdings in shares of Achaogen by 25.0% in the 1st quarter. Bank of Montreal Can now owns 7,500 shares of the biopharmaceutical company’s stock valued at $189,000 after acquiring an additional 1,500 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Achaogen in the 2nd quarter valued at about $168,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Achaogen in the 1st quarter valued at about $199,000. Sigma Planning Corp raised its holdings in shares of Achaogen by 9.6% in the 2nd quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock valued at $205,000 after acquiring an additional 825 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Achaogen by 691.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,077 shares of the biopharmaceutical company’s stock valued at $240,000 after acquiring an additional 9,677 shares in the last quarter. 84.12% of the stock is currently owned by hedge funds and other institutional investors.
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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