Achaogen Inc (NASDAQ:AKAO) – Stock analysts at SunTrust Banks boosted their FY2018 earnings per share estimates for shares of Achaogen in a research note issued to investors on Tuesday. SunTrust Banks analyst E. Nash now forecasts that the biopharmaceutical company will post earnings per share of ($3.01) for the year, up from their prior forecast of ($3.02). SunTrust Banks has a “Buy” rating and a $27.00 price objective on the stock. SunTrust Banks also issued estimates for Achaogen’s Q4 2018 earnings at ($0.87) EPS, FY2019 earnings at ($2.07) EPS, FY2020 earnings at ($1.18) EPS and FY2021 earnings at ($0.18) EPS.
Achaogen (NASDAQ:AKAO) last issued its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.13). Achaogen had a negative net margin of 593.61% and a negative return on equity of 80.44%. The firm had revenue of $0.58 million during the quarter, compared to the consensus estimate of $2.09 million. During the same period in the previous year, the firm earned ($0.41) earnings per share. The business’s quarterly revenue was down 96.4% on a year-over-year basis.
Shares of Achaogen (NASDAQ:AKAO) traded down $0.60 during trading on Thursday, reaching $10.60. The company had a trading volume of 4,407,800 shares, compared to its average volume of 3,775,400. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.99 and a quick ratio of 6.99. The company has a market cap of $498.97, a price-to-earnings ratio of -3.15 and a beta of 1.35. Achaogen has a twelve month low of $10.24 and a twelve month high of $27.79.
Several hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. grew 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. University of Notre Dame DU Lac grew its holdings in shares of Achaogen by 49.9% in the third quarter. University of Notre Dame DU Lac now owns 155,654 shares of the biopharmaceutical company’s stock valued at $2,483,000 after acquiring an additional 51,786 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Achaogen by 154.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 122,684 shares of the biopharmaceutical company’s stock valued at $1,957,000 after acquiring an additional 74,384 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Achaogen by 34.3% in the third quarter. Wells Fargo & Company MN now owns 33,213 shares of the biopharmaceutical company’s stock valued at $530,000 after acquiring an additional 8,483 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its holdings in shares of Achaogen by 25.1% in the third quarter. TimesSquare Capital Management LLC now owns 1,361,665 shares of the biopharmaceutical company’s stock valued at $21,719,000 after acquiring an additional 273,365 shares in the last quarter. 85.74% of the stock is owned by institutional investors.
In other Achaogen news, major shareholder Robert W. Duggan bought 95,012 shares of Achaogen stock in a transaction dated Monday, December 18th. The stock was bought at an average cost of $11.13 per share, with a total value of $1,057,483.56. Following the completion of the acquisition, the insider now directly owns 5,602,752 shares in the company, valued at approximately $62,358,629.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.36% of the company’s stock.
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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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