Achaogen Inc (NASDAQ:AKAO) – Equities researchers at SunTrust Banks issued their FY2022 earnings per share (EPS) estimates for shares of Achaogen in a note issued to investors on Tuesday. SunTrust Banks analyst E. Nash anticipates that the biopharmaceutical company will earn $1.03 per share for the year. SunTrust Banks currently has a “Buy” rating and a $27.00 target price on the stock.
Several other research analysts have also commented on the company. Mizuho reiterated a “buy” rating and set a $28.00 price target on shares of Achaogen in a report on Wednesday. ValuEngine upgraded shares of Achaogen from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded shares of Achaogen from a “sell” rating to a “hold” rating in a report on Monday, December 11th. Stifel Nicolaus reduced their price objective on shares of Achaogen from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. Finally, HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Achaogen in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. Achaogen presently has a consensus rating of “Buy” and a consensus price target of $25.89.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.13). Achaogen had a negative return on equity of 80.44% and a negative net margin of 593.61%. The company had revenue of $0.58 million for the quarter, compared to analysts’ expectations of $2.09 million. During the same quarter in the prior year, the firm earned ($0.41) EPS. The firm’s revenue was down 96.4% on a year-over-year basis.
Large investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new stake in Achaogen during the second quarter worth about $168,000. Ardsley Advisory Partners purchased a new stake in Achaogen during the second quarter worth about $217,000. JPMorgan Chase & Co. increased its stake in Achaogen by 691.2% during the second quarter. JPMorgan Chase & Co. now owns 11,077 shares of the biopharmaceutical company’s stock worth $240,000 after purchasing an additional 9,677 shares during the period. California Public Employees Retirement System purchased a new stake in Achaogen during the second quarter worth about $243,000. Finally, Voya Investment Management LLC purchased a new stake in Achaogen during the second quarter worth about $295,000. Institutional investors own 85.74% of the company’s stock.
In other Achaogen news, major shareholder Robert W. Duggan purchased 15,000 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were bought at an average cost of $10.89 per share, for a total transaction of $163,350.00. Following the completion of the purchase, the insider now directly owns 5,617,752 shares of the company’s stock, valued at $61,177,319.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Robert W. Duggan purchased 95,012 shares of the business’s stock in a transaction on Monday, December 18th. The shares were acquired at an average price of $11.13 per share, for a total transaction of $1,057,483.56. Following the completion of the purchase, the insider now directly owns 5,602,752 shares of the company’s stock, valued at $62,358,629.76. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 160,012 shares of company stock worth $1,796,334. 8.36% of the stock is owned by insiders.
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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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