Zacks: Brokerages Anticipate Achaogen Inc (AKAO) Will Announce Quarterly Sales of $1.78 Million

Analysts forecast that Achaogen Inc (NASDAQ:AKAO) will announce $1.78 million in sales for the current quarter, according to Zacks Investment Research. 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 would indicate a negative year over year growth rate of 83.4%. The firm is expected to issue its next earnings results on Tuesday, March 13th.

On average, analysts expect that Achaogen will report full-year sales of $1.78 million for the current financial year, with estimates ranging from $9.30 million to $14.20 million. For the next financial year, analysts anticipate that the business will post sales of $14.65 million per share, with estimates ranging from $5.60 million to $25.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Achaogen.

Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.41) EPS.

A number of brokerages have recently weighed in on AKAO. Mizuho reissued a “buy” rating and set a $28.00 price objective on shares of Achaogen in a report on Thursday, September 28th. Leerink Swann reaffirmed an “outperform” rating and issued a $22.00 price target (down from $28.00) on shares of Achaogen in a report on Monday, October 9th. They noted that the move was a valuation call. Stifel Nicolaus lowered their target price on shares of Achaogen from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of Achaogen in a research note on Thursday, November 9th. Finally, Guggenheim began coverage on shares of Achaogen in a research note on Tuesday, October 24th. They set a “buy” rating and a $17.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. Achaogen has a consensus rating of “Buy” and an average price target of $25.89.

Achaogen (NASDAQ AKAO) opened at $11.19 on Friday. The stock has a market capitalization of $451.01, a price-to-earnings ratio of -3.33 and a beta of 1.35. 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 $10.24 and a 12-month high of $27.79.

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

Several large investors have recently modified their holdings of AKAO. Point72 Asset Management L.P. boosted its holdings in Achaogen by 55.7% during the third quarter. Point72 Asset Management L.P. now owns 2,255,899 shares of the biopharmaceutical company’s stock worth $35,982,000 after buying an additional 806,899 shares in the last quarter. State Street Corp raised its position in Achaogen by 302.6% during the second quarter. State Street Corp now owns 1,677,097 shares of the biopharmaceutical company’s stock worth $36,444,000 after acquiring an additional 1,260,509 shares during the last quarter. Vanguard Group Inc. raised its position in Achaogen by 32.2% during the second quarter. Vanguard Group Inc. now owns 1,410,129 shares of the biopharmaceutical company’s stock worth $30,641,000 after acquiring an additional 343,428 shares during the last quarter. TimesSquare Capital Management LLC raised its position in Achaogen by 25.1% during the third quarter. TimesSquare Capital Management LLC now owns 1,361,665 shares of the biopharmaceutical company’s stock worth $21,719,000 after acquiring an additional 273,365 shares during the last quarter. Finally, Farallon Capital Management LLC raised its position in Achaogen by 16.0% during the second quarter. Farallon Capital Management LLC now owns 948,500 shares of the biopharmaceutical company’s stock worth $20,611,000 after acquiring an additional 131,000 shares during the last quarter. 85.74% of the stock is currently owned by institutional investors and hedge funds.

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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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