Achaogen Inc (NASDAQ:AKAO) – Research analysts at William Blair reduced their Q1 2018 EPS estimates for Achaogen in a report issued on Wednesday, according to Zacks Investment Research. William Blair analyst Y. Xu now anticipates that the biopharmaceutical company will earn ($1.00) per share for the quarter, down from their prior estimate of ($0.73). William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Achaogen’s Q2 2018 earnings at ($1.02) EPS, Q3 2018 earnings at ($0.94) EPS, Q4 2018 earnings at ($0.91) EPS, FY2018 earnings at ($3.87) EPS and FY2019 earnings at ($3.18) EPS.
Several other brokerages have also recently issued reports on AKAO. Leerink Swann reissued an “outperform” rating on shares of Achaogen in a research note on Sunday, March 4th. SunTrust Banks lowered their price objective on shares of Achaogen to $27.00 and set a “buy” rating for the company in a research note on Wednesday, January 3rd. Zacks Investment Research cut shares of Achaogen from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. HC Wainwright boosted their price objective on shares of Achaogen from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, Wedbush restated an “outperform” rating and set a $22.00 target price (down previously from $28.00) on shares of Achaogen in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Achaogen presently has a consensus rating of “Buy” and an average price target of $24.10.
Shares of Achaogen (NASDAQ AKAO) traded up $0.07 during midday trading on Monday, hitting $11.57. 678,474 shares of the stock traded hands, compared to its average volume of 1,193,718. Achaogen has a one year low of $9.83 and a one year high of $27.49. The stock has a market cap of $495.58, a PE ratio of -3.64 and a beta of 1.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.83 and a quick ratio of 4.83.
Achaogen (NASDAQ:AKAO) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.98) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.77) by ($0.21). Achaogen had a negative return on equity of 83.14% and a negative net margin of 1,124.10%. The firm had revenue of $1.87 million during the quarter, compared to analysts’ expectations of $1.18 million.
Several institutional investors have recently bought and sold shares of AKAO. State Street Corp boosted its holdings in shares of Achaogen by 302.6% in the second quarter. State Street Corp now owns 1,677,097 shares of the biopharmaceutical company’s stock valued at $36,444,000 after acquiring an additional 1,260,509 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Achaogen by 55.7% in the third quarter. Point72 Asset Management L.P. now owns 2,255,899 shares of the biopharmaceutical company’s stock valued at $35,982,000 after acquiring an additional 806,899 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Achaogen by 28.6% in the fourth quarter. BlackRock Inc. now owns 2,837,846 shares of the biopharmaceutical company’s stock valued at $30,478,000 after acquiring an additional 630,547 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Achaogen by 3,318.6% in the fourth quarter. Renaissance Technologies LLC now owns 642,700 shares of the biopharmaceutical company’s stock valued at $6,903,000 after acquiring an additional 623,900 shares in the last quarter. Finally, Prosight Management LP bought a new position in shares of Achaogen in the fourth quarter valued at approximately $6,132,000. Institutional investors and hedge funds own 77.37% of the company’s stock.
In other news, major shareholder Robert W. Duggan bought 527,396 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was purchased at an average price of $10.31 per share, for a total transaction of $5,437,452.76. Following the transaction, the insider now owns 5,697,752 shares in the company, valued at $58,743,823.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Robert W. Duggan acquired 50,000 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was bought at an average price of $11.51 per share, with a total value of $575,500.00. Following the completion of the acquisition, the insider now directly owns 5,617,752 shares of the company’s stock, valued at $64,660,325.52. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 787,408 shares of company stock valued at $8,355,686 and sold 7,354 shares valued at $78,467. 8.36% of the stock is currently owned by corporate insiders.
TRADEMARK VIOLATION NOTICE: “Brokers Issue Forecasts for Achaogen Inc’s Q1 2018 Earnings (AKAO)” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another website, it was stolen and republished in violation of US & international trademark & copyright legislation. The legal version of this article can be viewed at https://ledgergazette.com/2018/03/14/q1-2018-eps-estimates-for-achaogen-inc-reduced-by-analyst-akao.html.
Achaogen Company Profile
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Achaogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Achaogen and related companies with MarketBeat.com's FREE daily email newsletter.