FY2016 EPS Estimates for Achaogen Inc. Raised by Wedbush (AKAO)
Achaogen Inc. (NASDAQ:AKAO) – Stock analysts at Wedbush increased their FY2016 EPS estimates for Achaogen in a research note issued to investors on Tuesday. Wedbush analyst H. Behanna now anticipates that the firm will post earnings of ($2.25) per share for the year, up from their prior estimate of ($2.47). Wedbush has a “Outperform” rating and a $10.00 price target on the stock. Wedbush also issued estimates for Achaogen’s Q4 2016 earnings at ($0.30) EPS, Q1 2017 earnings at ($0.52) EPS, Q2 2017 earnings at ($0.56) EPS, Q3 2017 earnings at ($0.60) EPS, Q4 2017 earnings at ($0.56) EPS, FY2017 earnings at ($2.24) EPS, FY2018 earnings at ($2.09) EPS, FY2019 earnings at ($2.34) EPS and FY2020 earnings at ($1.80) EPS.
AKAO has been the subject of several other research reports. Zacks Investment Research downgraded shares of Achaogen from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. SunTrust Banks Inc. restated a “buy” rating and issued a $10.00 price target on shares of Achaogen in a research note on Monday, September 26th. Cowen and Company reaffirmed a “hold” rating on shares of Achaogen in a research report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Achaogen in a research report on Tuesday, August 9th. Finally, Aegis started coverage on shares of Achaogen in a research report on Wednesday, November 2nd. They set a “buy” rating and a $10.00 price objective for the company. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $8.63.
Shares of Achaogen (NASDAQ:AKAO) opened at 4.89 on Friday. Achaogen has a 12 month low of $2.59 and a 12 month high of $6.18. The firm’s market capitalization is $130.46 million. The firm’s 50-day moving average price is $4.77 and its 200 day moving average price is $4.02.
Achaogen (NASDAQ:AKAO) last released its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $16.05 million for the quarter, compared to the consensus estimate of $8.72 million. During the same period in the prior year, the firm earned ($0.48) EPS. The firm’s revenue was up 258.3% on a year-over-year basis.
Large investors have recently made changes to their positions in the stock. NEA Management Company LLC bought a new stake in shares of Achaogen during the second quarter worth $17,870,000. Point72 Asset Management L.P. boosted its stake in shares of Achaogen by 241.4% in the second quarter. Point72 Asset Management L.P. now owns 890,000 shares of the biopharmaceutical company’s stock worth $3,373,000 after buying an additional 629,309 shares during the period. Opaleye Management Inc. bought a new stake in shares of Achaogen during the first quarter worth $704,000. Spark Investment Management LLC boosted its stake in shares of Achaogen by 852.7% in the third quarter. Spark Investment Management LLC now owns 143,865 shares of the biopharmaceutical company’s stock worth $689,000 after buying an additional 128,765 shares during the period. Finally, Polar Capital LLP bought a new stake in shares of Achaogen during the second quarter worth $379,000. 56.83% of the stock is 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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