SunTrust Banks Weighs in on Achaogen Inc’s FY2022 Earnings (NASDAQ:AKAO)

Achaogen Inc (NASDAQ:AKAO) – Research analysts at SunTrust Banks issued their FY2022 earnings estimates for shares of Achaogen in a research note issued on Tuesday, Zacks Investment Research reports. SunTrust Banks analyst E. Nash forecasts that the biopharmaceutical company will post earnings per share of $1.03 for the year. SunTrust Banks has a “Buy” rating and a $27.00 price target on the stock.

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

Several other analysts have also recently commented on the stock. Guggenheim restated a “buy” rating and set a $14.00 price objective on shares of Achaogen in a research note on Wednesday. Zacks Investment Research cut shares of Achaogen from a “hold” rating to a “sell” rating in a research note on Tuesday. Mizuho restated a “buy” rating and set a $28.00 price objective on shares of Achaogen in a research note on Wednesday, January 3rd. ValuEngine upgraded shares of Achaogen from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Stifel Nicolaus decreased their price objective on shares of Achaogen from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $25.62.

Achaogen (NASDAQ AKAO) traded down $0.48 during mid-day trading on Wednesday, reaching $11.94. 1,360,000 shares of the company were exchanged, compared to its average volume of 1,310,000. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.08. Achaogen has a one year low of $10.24 and a one year high of $27.79. The firm has a market cap of $506.18, a PE ratio of -3.55 and a beta of 1.35.

In other Achaogen news, major shareholder Robert W. Duggan bought 15,000 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was acquired at an average price of $10.89 per share, with a total value of $163,350.00. Following the completion of the acquisition, the insider now directly owns 5,617,752 shares of the company’s stock, valued at $61,177,319.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Robert W. Duggan bought 95,012 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were acquired at an average cost of $11.13 per share, with a total value of $1,057,483.56. Following the acquisition, the insider now directly owns 5,602,752 shares of the company’s stock, valued at $62,358,629.76. The disclosure for this purchase can be found here. In the last three months, insiders purchased 160,012 shares of company stock valued at $1,796,334. 8.36% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in AKAO. State Street Corp grew 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 buying an additional 1,260,509 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of 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. TimesSquare Capital Management LLC grew 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 buying an additional 561,700 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Achaogen during the second quarter worth $8,692,000. Finally, Vanguard Group Inc. grew 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 buying an additional 343,428 shares in the last quarter. 85.74% of the stock is 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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