Achaogen, Inc. (AKAO) Expected to Post Quarterly Sales of $1.78 Million

Wall Street brokerages expect that Achaogen, Inc. (NASDAQ:AKAO) will post $1.78 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Achaogen’s earnings. The highest sales estimate is $4.80 million and the lowest is $800,000.00. Achaogen posted sales of $10.73 million during the same quarter last year, which would suggest a negative year over year growth rate of 83.4%. The firm is expected to issue its next earnings results on Tuesday, March 13th.

According to Zacks, analysts expect that Achaogen will report full year sales of $1.78 million for the current year, with estimates ranging from $9.30 million to $14.20 million. For the next fiscal year, analysts forecast that the business will post sales of $14.57 million per share, with estimates ranging from $5.00 million to $25.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Achaogen.

Achaogen (NASDAQ:AKAO) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.13). The company had revenue of $0.58 million for the quarter, compared to the consensus estimate of $2.09 million. Achaogen had a negative net margin of 593.61% and a negative return on equity of 80.44%. The business’s revenue was down 96.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.41) earnings per share.

A number of analysts have recently weighed in on the company. Mizuho reiterated a “buy” rating and set a $28.00 target price on shares of Achaogen in a research report on Thursday. BidaskClub downgraded Achaogen from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Stifel Nicolaus restated a “buy” rating and set a $30.00 price objective on shares of Achaogen in a research report on Friday, August 4th. Zacks Investment Research downgraded Achaogen from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Finally, HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Achaogen in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Achaogen currently has a consensus rating of “Buy” and an average target price of $25.78.

In related news, COO Blake Wise sold 3,576 shares of the company’s stock in a transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 8.36% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. increased its holdings in Achaogen by 55.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,255,899 shares of the biopharmaceutical company’s stock worth $35,982,000 after purchasing an additional 806,899 shares in the last quarter. University of Notre Dame DU Lac increased its holdings in Achaogen by 49.9% in the 3rd quarter. University of Notre Dame DU Lac now owns 155,654 shares of the biopharmaceutical company’s stock worth $2,483,000 after purchasing an additional 51,786 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Achaogen by 154.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 122,684 shares of the biopharmaceutical company’s stock worth $1,957,000 after purchasing an additional 74,384 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Achaogen by 34.3% in the 3rd quarter. Wells Fargo & Company MN now owns 33,213 shares of the biopharmaceutical company’s stock worth $530,000 after purchasing an additional 8,483 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its holdings in Achaogen by 25.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,361,665 shares of the biopharmaceutical company’s stock worth $21,719,000 after purchasing an additional 273,365 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Shares of Achaogen (NASDAQ AKAO) opened at $11.33 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.99 and a current ratio of 6.99. Achaogen has a 1 year low of $4.82 and a 1 year high of $27.79.

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About Achaogen

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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Earnings History and Estimates for Achaogen (NASDAQ:AKAO)

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