Q3 2018 Earnings Estimate for Achaogen, Inc. Issued By SunTrust Banks (AKAO)
Achaogen, Inc. (NASDAQ:AKAO) – Stock analysts at SunTrust Banks issued their Q3 2018 EPS estimates for Achaogen in a research report issued on Thursday. SunTrust Banks analyst E. Nash forecasts that the biopharmaceutical company will post earnings per share of ($0.77) for the quarter.
Achaogen (NASDAQ:AKAO) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $0.58 million for the quarter, compared to the consensus estimate of $2.09 million. During the same period in the prior year, the business posted ($0.41) earnings per share. Achaogen’s revenue was down 96.4% on a year-over-year basis.
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A number of other equities research analysts have also weighed in on AKAO. Stifel Nicolaus decreased their target price on Achaogen from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Mizuho reaffirmed a “buy” rating and set a $28.00 target price on shares of Achaogen in a research report on Thursday, September 28th. Zacks Investment Research lowered Achaogen from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub lowered Achaogen from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Achaogen in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Achaogen presently has an average rating of “Buy” and an average price target of $25.78.
Shares of Achaogen (NASDAQ:AKAO) traded down $1.09 during midday trading on Monday, reaching $11.92. The company’s stock had a trading volume of 1,235,100 shares, compared to its average volume of 860,774. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.99 and a quick ratio of 6.99. Achaogen has a 1-year low of $4.67 and a 1-year high of $27.79.
Several large investors have recently made changes to their positions in the company. Sigma Planning Corp increased its holdings in shares of Achaogen by 9.6% in the 2nd 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 during the period. Bank of Montreal Can grew its stake in Achaogen by 33.3% during the 2nd quarter. Bank of Montreal Can now owns 10,000 shares of the biopharmaceutical company’s stock worth $217,000 after buying an additional 2,500 shares during the last quarter. First Midwest Bank Trust Division grew its stake in Achaogen by 17.9% during the 2nd quarter. First Midwest Bank Trust Division now owns 20,388 shares of the biopharmaceutical company’s stock worth $443,000 after buying an additional 3,095 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Achaogen by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 113,783 shares of the biopharmaceutical company’s stock worth $2,871,000 after buying an additional 3,150 shares during the last quarter. Finally, Essex Investment Management Co. LLC grew its stake in Achaogen by 14.4% during the 2nd quarter. Essex Investment Management Co. LLC now owns 26,330 shares of the biopharmaceutical company’s stock worth $572,000 after buying an additional 3,319 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.
In other news, COO Blake Wise sold 3,576 shares of Achaogen stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $15.99, for a total value of $57,180.24. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 8.36% 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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