Achaogen, Inc. (AKAO) Expected to Post Quarterly Sales of $1.69 Million
Wall Street brokerages expect Achaogen, Inc. (NASDAQ:AKAO) to post $1.69 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Achaogen’s earnings. The highest sales estimate is $4.15 million and the lowest is $1.00 million. Achaogen reported sales of $16.05 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 89.5%. The firm is scheduled to announce its next earnings report on Monday, November 6th.
According to Zacks, analysts expect that Achaogen will report full-year sales of $1.69 million for the current year, with estimates ranging from $8.70 million to $15.85 million. For the next financial year, analysts forecast that the company will report sales of $16.02 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 released its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.18). The company had revenue of $1.30 million for 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 in the previous year, the firm posted ($0.87) earnings per share.
Several research analysts have recently commented on the stock. Zacks Investment Research cut shares of Achaogen from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BidaskClub raised shares of Achaogen from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 target price on shares of Achaogen in a report on Friday, August 4th. Mizuho reaffirmed a “buy” rating and set a $28.00 target price on shares of Achaogen in a report on Thursday, September 28th. Finally, HC Wainwright assumed coverage on shares of Achaogen in a report on Thursday, June 15th. They set a “buy” rating and a $29.00 target price on the stock. 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 has a consensus rating of “Buy” and an average target price of $27.68.
In related news, COO Blake Wise sold 3,576 shares of the stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total transaction of $57,180.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 8.36% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. acquired a new stake in shares of Achaogen during the 1st quarter worth approximately $3,064,000. Marcus Capital LLC acquired a new stake in shares of Achaogen during the 2nd quarter worth approximately $1,769,000. TimesSquare Capital Management LLC boosted its position in shares of Achaogen by 106.7% during the 2nd quarter. TimesSquare Capital Management LLC now owns 1,088,300 shares of the biopharmaceutical company’s stock worth $23,649,000 after acquiring an additional 561,700 shares in the last quarter. Artal Group S.A. boosted its position in shares of Achaogen by 233.3% during the 2nd quarter. Artal Group S.A. now owns 200,000 shares of the biopharmaceutical company’s stock worth $4,346,000 after acquiring an additional 140,000 shares in the last quarter. Finally, Blair William & Co. IL acquired a new stake in shares of Achaogen during the 2nd quarter worth approximately $1,022,000. Institutional investors and hedge funds own 84.15% of the company’s stock.
Shares of Achaogen (AKAO) opened at 15.89 on Friday. The firm’s market capitalization is $671.08 million. The firm’s 50-day moving average price is $17.17 and its 200-day moving average price is $20.90. Achaogen has a 12-month low of $3.68 and a 12-month high of $27.79.
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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