Achaogen, Inc. (NASDAQ:AKAO) – Equities research analysts at William Blair lowered their Q3 2017 EPS estimates for shares of Achaogen in a report released on Monday. William Blair analyst Y. Xu now expects that the biopharmaceutical company will post earnings per share of ($0.72) for the quarter, down from their prior forecast of ($0.70). William Blair also issued estimates for Achaogen’s Q4 2017 earnings at ($0.66) EPS, Q1 2018 earnings at ($0.71) EPS, Q2 2018 earnings at ($0.76) EPS, Q3 2018 earnings at ($0.74) EPS, Q4 2018 earnings at ($0.69) EPS and FY2018 earnings at ($2.89) EPS.
A number of other brokerages have also weighed in on AKAO. BidaskClub upgraded Achaogen from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 price objective on shares of Achaogen in a research report on Friday, August 4th. HC Wainwright started coverage on Achaogen in a research report on Thursday, June 15th. They issued a “buy” rating and a $29.00 price objective on the stock. Mizuho reiterated a “buy” rating and issued a $28.00 price objective on shares of Achaogen in a research report on Thursday, September 28th. Finally, Zacks Investment Research upgraded Achaogen from a “sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. Achaogen has an average rating of “Buy” and an average price target of $27.78.
Achaogen (NASDAQ:AKAO) opened at 13.39 on Wednesday. The firm has a 50-day moving average price of $16.55 and a 200 day moving average price of $20.66. Achaogen has a 52 week low of $3.68 and a 52 week high of $27.79. The firm’s market capitalization is $565.50 million.
Achaogen (NASDAQ:AKAO) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.18). Achaogen had a negative net margin of 281.88% and a negative return on equity of 86.24%. The business had revenue of $1.30 million during the quarter, compared to analyst estimates of $2.69 million. During the same period last year, the firm posted ($0.87) earnings per share. Achaogen’s quarterly revenue was down 85.7% compared to the same quarter last year.
In related news, COO Blake Wise sold 3,576 shares of Achaogen stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $15.99, for a total transaction of $57,180.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.36% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new stake in shares of Achaogen during the second quarter valued at approximately $168,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Achaogen during the first quarter valued at approximately $199,000. Sigma Planning Corp boosted its position in shares of Achaogen by 9.6% during the second quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock valued at $205,000 after purchasing an additional 825 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Achaogen by 33.3% during the second quarter. Bank of Montreal Can now owns 10,000 shares of the biopharmaceutical company’s stock valued at $217,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Ardsley Advisory Partners bought a new stake in shares of Achaogen during the second quarter valued at approximately $217,000. Institutional investors own 84.15% of the company’s stock.
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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