FY2019 EPS Estimates for Achaogen, Inc. Lowered by Leerink Swann (AKAO)
Achaogen, Inc. (NASDAQ:AKAO) – Equities research analysts at Leerink Swann decreased their FY2019 EPS estimates for Achaogen in a research note issued on Monday. Leerink Swann analyst P. Matteis now anticipates that the biopharmaceutical company will earn ($1.93) per share for the year, down from their prior forecast of ($1.86). Leerink Swann has a “Outperform” rating and a $22.00 price objective on the stock.
Achaogen (NASDAQ:AKAO) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company posted ($0.87) EPS. COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/12/fy2019-eps-estimates-for-achaogen-inc-lowered-by-leerink-swann-akao.html.
AKAO has been the topic of a number of other research reports. Mizuho assumed coverage on Achaogen in a research report on Wednesday, September 6th. They issued a “buy” rating and a $28.00 target price on the stock. BidaskClub downgraded Achaogen from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research downgraded Achaogen from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. HC Wainwright assumed coverage on Achaogen in a research report on Thursday, June 15th. They issued a “buy” rating and a $29.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 target price on shares of Achaogen in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.78.
Achaogen (NASDAQ AKAO) traded down 4.01% during mid-day trading on Thursday, hitting $13.39. The stock had a trading volume of 833,737 shares. Achaogen has a 52 week low of $3.68 and a 52 week high of $27.79. The company’s market capitalization is $565.50 million. The stock’s 50-day moving average is $16.70 and its 200 day moving average is $20.71.
In other news, COO Blake Wise sold 3,576 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $15.99, for a total transaction of $57,180.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.36% of the company’s stock.
Several large investors have recently modified their holdings of the company. Ardsley Advisory Partners bought a new stake in shares of Achaogen during the second quarter worth approximately $217,000. Lord Abbett & CO. LLC boosted its holdings in shares of Achaogen by 153.2% during the second 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 during the period. California State Teachers Retirement System bought a new stake in shares of Achaogen during the second quarter worth approximately $1,117,000. Bank of Nova Scotia bought a new stake in shares of Achaogen during the second quarter worth approximately $1,740,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Achaogen by 1,743.3% during the second 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 during the period. Institutional investors own 84.15% of the company’s stock.
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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