Research Analysts Set Expectations for Achaogen, Inc.’s Q3 2018 Earnings (AKAO)
Achaogen, Inc. (NASDAQ:AKAO) – Equities researchers at SunTrust Banks issued their Q3 2018 earnings per share (EPS) estimates for Achaogen in a report released on Thursday. SunTrust Banks analyst E. Nash forecasts that the biopharmaceutical company will post earnings of ($0.77) per share for the quarter.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $2.09 million. During the same quarter in the prior year, the business earned ($0.41) earnings per share. The firm’s revenue for the quarter was down 96.4% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.watchlistnews.com/research-analysts-set-expectations-for-achaogen-inc-s-q3-2018-earnings-akao/1699683.html.
Several other research analysts have also issued reports on AKAO. Zacks Investment Research upgraded Achaogen from a “sell” rating to a “hold” rating and set a $27.00 price target on the stock in a research report on Monday, July 17th. BidaskClub lowered Achaogen from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price target on shares of Achaogen in a research report on Friday, August 4th. Mizuho started coverage on Achaogen in a research note on Wednesday, September 6th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $22.00 price objective (down previously from $28.00) on shares of Achaogen in a research note on Monday, October 9th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Achaogen currently has a consensus rating of “Buy” and a consensus price target of $25.78.
Achaogen (NASDAQ AKAO) opened at $13.29 on Monday. Achaogen has a 12-month low of $4.26 and a 12-month high of $27.79. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.08.
Institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of 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 period. TimesSquare Capital Management LLC boosted its holdings in shares of Achaogen by 106.7% during the second quarter. TimesSquare Capital Management LLC now owns 1,088,300 shares of the biopharmaceutical company’s stock worth $23,649,000 after acquiring an additional 561,700 shares during the period. Franklin Resources Inc. bought a new stake in shares of Achaogen during the second quarter worth approximately $8,692,000. Vanguard Group Inc. boosted its holdings in shares of 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 period. Finally, Northern Trust Corp boosted its holdings in shares of Achaogen by 619.5% during the second quarter. Northern Trust Corp now owns 341,367 shares of the biopharmaceutical company’s stock worth $7,418,000 after acquiring an additional 293,920 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.
In related news, COO Blake Wise sold 3,576 shares of Achaogen stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $15.99, for a total value of $57,180.24. The transaction was disclosed in a filing with the SEC, which is available at this link. 8.36% of the stock is currently owned by insiders.
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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