$1.78 Million in Sales Expected for Achaogen Inc (AKAO) This Quarter

Brokerages forecast that Achaogen Inc (NASDAQ:AKAO) will report $1.78 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Achaogen’s earnings, with the lowest sales estimate coming in at $800,000.00 and the highest estimate coming in at $4.80 million. Achaogen posted sales of $10.73 million in the same quarter last year, which indicates a negative year over year growth rate of 83.4%. The company is expected to announce its next quarterly earnings results on Tuesday, March 13th.

On average, analysts expect that Achaogen will report full-year sales of $1.78 million for the current fiscal year, with estimates ranging from $9.30 million to $14.20 million. For the next fiscal year, analysts anticipate that the firm will report sales of $14.65 million per share, with estimates ranging from $5.60 million to $25.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Achaogen.

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

Several brokerages have recently weighed in on AKAO. HC Wainwright boosted their price objective on shares of Achaogen from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of Achaogen from a “hold” rating to a “sell” rating in a research report on Monday. Mizuho restated a “buy” rating and set a $28.00 price objective on shares of Achaogen in a research report on Thursday, November 9th. SunTrust Banks reduced their price objective on shares of Achaogen to $27.00 and set a “buy” rating for the company in a research report on Wednesday, January 3rd. Finally, Stifel Nicolaus reduced their price objective on shares of Achaogen from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $26.16.

In other Achaogen news, major shareholder Robert W. Duggan purchased 95,012 shares of Achaogen stock in a transaction that occurred on Monday, December 18th. The stock was purchased at an average price of $11.13 per share, for a total transaction of $1,057,483.56. Following the transaction, the insider now directly owns 5,602,752 shares in the company, valued at $62,358,629.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Robert W. Duggan purchased 15,000 shares of Achaogen stock in a transaction that occurred on Wednesday, January 3rd. The stock was acquired at an average price of $10.89 per share, with a total value of $163,350.00. Following the transaction, the insider now owns 5,617,752 shares in the company, valued at $61,177,319.28. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 160,012 shares of company stock valued at $1,796,334. 8.36% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. raised its position 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 valued at $35,982,000 after purchasing an additional 806,899 shares during the last quarter. Artal Group S.A. raised its position in Achaogen by 25.0% in the 3rd quarter. Artal Group S.A. now owns 250,000 shares of the biopharmaceutical company’s stock valued at $3,988,000 after purchasing an additional 50,000 shares during the last quarter. Schwab Charles Investment Management Inc. purchased a new stake in Achaogen in the 2nd quarter valued at $1,050,000. Bank of Nova Scotia purchased a new stake in Achaogen in the 2nd quarter valued at $1,740,000. Finally, The Manufacturers Life Insurance Company raised its position in Achaogen by 1,743.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,225 shares of the biopharmaceutical company’s stock valued at $505,000 after purchasing an additional 21,965 shares during the last quarter. Hedge funds and other institutional investors own 85.84% of the company’s stock.

Shares of Achaogen (AKAO) opened at $10.64 on Friday. The firm has a market cap of $451.07, a P/E ratio of -3.17 and a beta of 1.27. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.08. Achaogen has a 12-month low of $9.88 and a 12-month high of $27.79.

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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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Earnings History and Estimates for Achaogen (NASDAQ:AKAO)

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