Achaogen, Inc. (NASDAQ:AKAO) – Stock analysts at Leerink Swann lowered their FY2019 earnings per share (EPS) estimates for Achaogen in a report released on Monday. Leerink Swann analyst P. Matteis now expects that the biopharmaceutical company will earn ($1.93) per share for the year, down from their previous estimate of ($1.86). Leerink Swann has a “Outperform” rating and a $22.00 price objective on the stock.
Achaogen (NASDAQ:AKAO) last announced its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.18). The business had revenue of $1.30 million during the quarter, compared to analyst estimates of $2.69 million. Achaogen had a negative net margin of 281.88% and a negative return on equity of 86.24%. The company’s revenue for the quarter was down 85.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.87) EPS. ILLEGAL ACTIVITY WARNING: “FY2019 EPS Estimates for Achaogen, Inc. Lowered by Analyst (AKAO)” was originally reported by Ticker Report and is the sole property of of Ticker Report. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The correct version of this story can be accessed at https://www.tickerreport.com/banking-finance/2958191/fy2019-eps-estimates-for-achaogen-inc-lowered-by-analyst-akao.html.
Several other research firms have also commented on AKAO. BidaskClub upgraded shares of Achaogen from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd. Stifel Nicolaus reissued a “buy” rating and set a $30.00 price target on shares of Achaogen in a research report on Friday, August 4th. HC Wainwright assumed coverage on shares of Achaogen in a research report on Thursday, June 15th. They set a “buy” rating and a $29.00 price target for the company. Mizuho reissued a “buy” rating and set a $28.00 price target on shares of Achaogen in a research report on Thursday, September 28th. Finally, Zacks Investment Research raised shares of Achaogen from a “sell” rating to a “hold” rating and set a $27.00 price target for the company in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $27.78.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in shares of Achaogen during the second quarter valued at approximately $168,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Achaogen during the first quarter worth $199,000. Sigma Planning Corp grew its holdings in shares of Achaogen by 9.6% during the second quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock worth $205,000 after purchasing an additional 825 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Achaogen by 33.3% during the second quarter. Bank of Montreal Can now owns 10,000 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Ardsley Advisory Partners bought a new stake in shares of Achaogen during the second quarter worth $217,000. Institutional investors and hedge funds own 84.15% of the company’s stock.
In related news, COO Blake Wise sold 3,576 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $15.99, for a total value of $57,180.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.36% of the stock is currently owned by insiders.
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).
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