Achaogen Inc (AKAO) Expected to Post Quarterly Sales of $3.86 Million

Wall Street analysts forecast that Achaogen Inc (NASDAQ:AKAO) will announce sales of $3.86 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Achaogen’s earnings. The lowest sales estimate is $2.23 million and the highest is $6.30 million. Achaogen posted sales of $1.87 million in the same quarter last year, which suggests a positive year-over-year growth rate of 106.4%. The business is scheduled to issue its next earnings report on Tuesday, February 26th.

On average, analysts expect that Achaogen will report full year sales of $10.48 million for the current fiscal year, with estimates ranging from $8.93 million to $13.00 million. For the next year, analysts anticipate that the business will report sales of $29.77 million, with estimates ranging from $11.15 million to $55.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Achaogen.

Achaogen (NASDAQ:AKAO) last announced its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.08. Achaogen had a negative return on equity of 214.74% and a negative net margin of 2,045.86%. The company had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $3.80 million.

A number of equities research analysts have recently issued reports on the company. Cowen cut Achaogen from an “outperform” rating to a “market perform” rating in a research note on Friday, November 9th. Gabelli cut Achaogen from a “buy” rating to a “hold” rating in a research note on Friday, November 9th. SunTrust Banks reiterated a “hold” rating and set a $3.00 price objective (down previously from $10.00) on shares of Achaogen in a research note on Tuesday, November 13th. Zacks Investment Research cut Achaogen from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th. Finally, Stifel Nicolaus cut Achaogen from a “buy” rating to a “hold” rating in a research note on Friday, November 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.25.

In other Achaogen news, major shareholder Robert W. Duggan purchased 80,175 shares of the company’s stock in a transaction that occurred on Friday, November 23rd. The shares were acquired at an average price of $1.89 per share, for a total transaction of $151,530.75. Following the purchase, the insider now owns 8,343,945 shares in the company, valued at $15,770,056.05. The acquisition 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 22,431 shares of the company’s stock in a transaction that occurred on Friday, December 7th. The stock was acquired at an average price of $1.40 per share, for a total transaction of $31,403.40. Following the purchase, the insider now owns 8,443,961 shares in the company, valued at approximately $11,821,545.40. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 1,008,362 shares of company stock worth $1,677,078. 7.80% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Gamco Investors INC. ET AL raised its stake in Achaogen by 43.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 94,700 shares of the biopharmaceutical company’s stock valued at $820,000 after acquiring an additional 28,500 shares during the period. Gabelli Funds LLC raised its stake in Achaogen by 18.6% in the 2nd quarter. Gabelli Funds LLC now owns 206,400 shares of the biopharmaceutical company’s stock valued at $1,787,000 after acquiring an additional 32,400 shares during the period. Paloma Partners Management Co bought a new stake in Achaogen in the 3rd quarter valued at $174,000. Sei Investments Co. bought a new stake in Achaogen in the 2nd quarter valued at $423,000. Finally, Jefferies Group LLC bought a new stake in Achaogen in the 3rd quarter valued at $275,000. Institutional investors and hedge funds own 45.59% of the company’s stock.

Shares of Achaogen stock traded down $0.09 on Tuesday, reaching $1.62. 732,132 shares of the company were exchanged, compared to its average volume of 922,394. Achaogen has a one year low of $1.36 and a one year high of $15.00. The stock has a market cap of $74.71 million, a P/E ratio of -0.51 and a beta of 0.52. The company has a quick ratio of 2.52, a current ratio of 2.54 and a debt-to-equity ratio of 1.00.

About Achaogen

Achaogen, Inc, a late-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections in the United States. The company is principally developing plazomicin for the treatment of serious bacterial infections, including urinary tract infections, blood stream infections, and other infections due to MDR enterobacteriaceae comprising carbapenem-resistant enterobacteriaceae.

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