Achaogen, Inc. (AKAO) Expected to Post Quarterly Sales of $1.78 Million

Wall Street brokerages expect that Achaogen, Inc. (NASDAQ:AKAO) will post sales of $1.78 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Achaogen’s earnings. The highest sales estimate is $4.80 million and the lowest is $800,000.00. Achaogen reported sales of $10.73 million in the same quarter last year, which indicates a negative year-over-year growth rate of 83.4%. The firm is scheduled 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 fiscal year, analysts expect that the business will post sales of $14.57 million per share, with estimates ranging from $5.00 million to $25.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Achaogen.

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

A number of brokerages have recently issued reports on AKAO. Mizuho reaffirmed a “buy” rating and set a $28.00 price objective on shares of Achaogen in a research note on Thursday, November 30th. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of Achaogen in a report on Thursday, November 9th. Zacks Investment Research lowered shares of Achaogen from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Stifel Nicolaus dropped their target price on shares of Achaogen from $30.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, November 9th. Finally, BidaskClub lowered shares of Achaogen from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $25.78.

Achaogen (AKAO) traded down $0.49 on Friday, reaching $10.50. The company had a trading volume of 1,132,945 shares, compared to its average volume of 865,265. 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 1-year low of $4.82 and a 1-year high of $27.79.

In other news, COO Blake Wise sold 3,576 shares of Achaogen stock in a transaction that occurred on Tuesday, September 26th. The shares were 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 8.36% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sigma Planning Corp increased 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 acquiring an additional 825 shares in the last quarter. Bank of Montreal Can grew its position in Achaogen by 33.3% in the 2nd quarter. Bank of Montreal Can now owns 10,000 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 2,500 shares during the period. Alps Advisors Inc. grew its position in Achaogen by 12.8% in the 3rd quarter. Alps Advisors Inc. now owns 41,593 shares of the biopharmaceutical company’s stock worth $663,000 after purchasing an additional 4,725 shares during the period. Legal & General Group Plc bought a new stake in Achaogen in the 2nd quarter worth approximately $168,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Achaogen by 34.3% during the 3rd quarter. Wells Fargo & Company MN now owns 33,213 shares of the biopharmaceutical company’s stock worth $530,000 after acquiring an additional 8,483 shares during the last quarter. 85.81% of the stock is owned by institutional investors.

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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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Earnings History and Estimates for Achaogen (NASDAQ:AKAO)

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