Achaogen Inc. Expected to Post FY2016 Earnings of ($2.67) Per Share (AKAO)
Achaogen Inc. (NASDAQ:AKAO) – Equities research analysts at SunTrust Banks cut their FY2016 EPS estimates for shares of Achaogen in a report released on Monday. SunTrust Banks analyst E. Nash now forecasts that the firm will post earnings of ($2.67) per share for the year, down from their previous estimate of ($2.55). SunTrust Banks currently has a “Buy” rating and a $10.00 target price on the stock. SunTrust Banks also issued estimates for Achaogen’s Q4 2016 earnings at ($0.76) EPS, FY2017 earnings at ($1.84) EPS and FY2018 earnings at ($1.91) EPS.
Achaogen (NASDAQ:AKAO) last announced its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.20. Achaogen had a negative return on equity of 143.44% and a negative net margin of 147.80%. The company had revenue of $16.05 million for the quarter, compared to analysts’ expectations of $8.72 million. During the same quarter in the prior year, the firm earned ($0.48) earnings per share. Achaogen’s revenue was up 258.3% compared to the same quarter last year.
AKAO has been the topic of several other reports. Zacks Investment Research cut Achaogen from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. Wedbush restated an “outperform” rating and set a $10.00 target price on shares of Achaogen in a report on Tuesday, September 27th. Cowen and Company restated a “hold” rating on shares of Achaogen in a report on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Achaogen in a report on Tuesday, August 9th. Finally, Aegis began coverage on Achaogen in a report on Wednesday, November 2nd. They set a “buy” rating and a $10.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Achaogen currently has an average rating of “Buy” and a consensus target price of $8.63.
Achaogen (NASDAQ:AKAO) opened at 4.48 on Thursday. The company’s market cap is $119.52 million. The company has a 50-day moving average price of $4.76 and a 200 day moving average price of $4.01. Achaogen has a 52 week low of $2.59 and a 52 week high of $6.18.
Several hedge funds have recently added to or reduced their stakes in the stock. ICONIQ Capital LLC raised its stake in Achaogen by 100.3% in the second quarter. ICONIQ Capital LLC now owns 28,629 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 14,333 shares during the last quarter. Northern Trust Corp raised its stake in Achaogen by 52.6% in the third quarter. Northern Trust Corp now owns 23,346 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 8,046 shares during the last quarter. A.R.T. Advisors LLC purchased a new stake in Achaogen during the second quarter valued at approximately $142,000. Eagle Global Advisors LLC raised its stake in Achaogen by 55.4% in the second quarter. Eagle Global Advisors LLC now owns 38,749 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 13,812 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Achaogen by 13.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 85,472 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 10,330 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.
Achaogen, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterials to treat multi-drug resistant (MDR) gram-negative infections. The Company is developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections due to MDR Enterobacteriaceae, including carbapenem-resistant enterobacteriaceae (CRE).
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