Achaogen Inc (NASDAQ:AKAO) – Investment analysts at SunTrust Banks issued their FY2022 earnings per share estimates for shares of Achaogen in a research note issued on Tuesday. SunTrust Banks analyst E. Nash expects that the biopharmaceutical company will earn $1.03 per share for the year. SunTrust Banks currently has a “Buy” rating and a $27.00 target price on the stock.
Achaogen (NASDAQ:AKAO) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $0.58 million for the quarter, compared to the consensus estimate of $2.09 million. During the same quarter in the prior year, the company earned ($0.41) EPS. The company’s revenue for the quarter was down 96.4% on a year-over-year basis.
A number of other research firms have also weighed in on AKAO. Mizuho reissued a “buy” rating and set a $28.00 target price on shares of Achaogen in a report on Monday, October 30th. HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of Achaogen in a report on Thursday, November 9th. Zacks Investment Research upgraded Achaogen from a “sell” rating to a “hold” rating in a research report on Monday, December 11th. Stifel Nicolaus dropped 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. Finally, Guggenheim assumed coverage on Achaogen in a research note on Tuesday, October 24th. They issued a “buy” rating and a $17.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. Achaogen presently has an average rating of “Buy” and a consensus target price of $25.89.
Shares of Achaogen (NASDAQ AKAO) traded down $0.58 during trading on Wednesday, hitting $11.19. The stock had a trading volume of 936,823 shares, compared to its average volume of 2,556,825. Achaogen has a one year low of $10.24 and a one year high of $27.79. The company has a market cap of $474.38, a PE ratio of -3.33 and a beta of 1.35. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.08.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. grew its position in Achaogen by 12.8% in the third quarter. Alps Advisors Inc. now owns 41,593 shares of the biopharmaceutical company’s stock worth $663,000 after acquiring an additional 4,725 shares in the last quarter. Legal & General Group Plc purchased a new position in Achaogen in the second quarter worth about $168,000. Wells Fargo & Company MN grew its position in Achaogen by 34.3% in the third quarter. Wells Fargo & Company MN now owns 33,213 shares of the biopharmaceutical company’s stock worth $530,000 after acquiring an additional 8,483 shares in the last quarter. JPMorgan Chase & Co. grew its position in Achaogen by 691.2% in the second quarter. JPMorgan Chase & Co. now owns 11,077 shares of the biopharmaceutical company’s stock worth $240,000 after acquiring an additional 9,677 shares in the last quarter. Finally, Ardsley Advisory Partners purchased a new position in Achaogen in the second quarter worth about $217,000. Institutional investors own 85.74% of the company’s stock.
In related news, major shareholder Robert W. Duggan bought 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were bought at an average cost of $10.89 per share, with a total value of $163,350.00. Following the acquisition, the insider now owns 5,617,752 shares in the company, valued at $61,177,319.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Robert W. Duggan purchased 95,012 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were acquired at an average cost of $11.13 per share, for a total transaction of $1,057,483.56. Following the completion of the acquisition, the insider now owns 5,602,752 shares of the company’s stock, valued at $62,358,629.76. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 160,012 shares of company stock worth $1,796,334. Company insiders own 8.36% of the company’s stock.
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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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