Achaogen, Inc. to Post Q3 2017 Earnings of ($0.72) Per Share, William Blair Forecasts (AKAO)
Achaogen, Inc. (NASDAQ:AKAO) – Stock analysts at William Blair decreased their Q3 2017 EPS estimates for shares of Achaogen in a research report issued to clients and investors on Monday. William Blair analyst Y. Xu now expects that the biopharmaceutical company will post earnings per share of ($0.72) for the quarter, down from their previous forecast of ($0.70). William Blair also issued estimates for Achaogen’s Q4 2017 earnings at ($0.66) EPS, Q1 2018 earnings at ($0.71) EPS, Q2 2018 earnings at ($0.76) EPS, Q3 2018 earnings at ($0.74) EPS, Q4 2018 earnings at ($0.69) EPS and FY2018 earnings at ($2.89) EPS.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share (EPS) 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 the consensus estimate of $2.69 million. Achaogen had a negative return on equity of 86.24% and a negative net margin of 281.88%. The business’s revenue was down 85.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.87) earnings per share.
AKAO has been the subject of several other research reports. Mizuho began coverage on Achaogen in a research report on Wednesday, September 6th. They issued a “buy” rating and a $28.00 price target for the company. BidaskClub cut Achaogen from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Leerink Swann restated an “outperform” rating and issued a $22.00 price target (down previously from $28.00) on shares of Achaogen in a research report on Monday. They noted that the move was a valuation call. Zacks Investment Research cut Achaogen from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, HC Wainwright began coverage on Achaogen in a research report on Thursday, June 15th. They issued a “buy” rating and a $29.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Achaogen presently has an average rating of “Buy” and a consensus price target of $27.78.
Achaogen (NASDAQ:AKAO) opened at 14.05 on Wednesday. Achaogen has a 52-week low of $3.68 and a 52-week high of $27.79. The firm has a 50 day moving average of $16.84 and a 200-day moving average of $20.76. The stock’s market cap is $593.37 million.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ardsley Advisory Partners acquired a new position in Achaogen during the 2nd quarter worth approximately $217,000. Lord Abbett & CO. LLC lifted its position in Achaogen by 153.2% during the 2nd quarter. Lord Abbett & CO. LLC now owns 435,953 shares of the biopharmaceutical company’s stock worth $9,473,000 after acquiring an additional 263,799 shares in the last quarter. California State Teachers Retirement System acquired a new position in Achaogen during the 2nd quarter worth approximately $1,117,000. Bank of Nova Scotia acquired a new position in Achaogen during the 2nd quarter worth approximately $1,740,000. Finally, The Manufacturers Life Insurance Company lifted its position in Achaogen by 1,743.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,225 shares of the biopharmaceutical company’s stock worth $505,000 after acquiring an additional 21,965 shares in the last quarter. 84.15% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Blake Wise sold 3,576 shares of Achaogen stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $15.99, for a total value of $57,180.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. 8.36% of the stock is currently owned by company insiders.
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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