Zacks: Analysts Anticipate Achaogen Inc (AKAO) Will Post Quarterly Sales of $3.94 Million

Brokerages expect Achaogen Inc (NASDAQ:AKAO) to post $3.94 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Achaogen’s earnings. The highest sales estimate is $7.22 million and the lowest is $1.30 million. Achaogen reported sales of $580,000.00 in the same quarter last year, which would suggest a positive year-over-year growth rate of 579.3%. The firm is scheduled to announce its next earnings results on Wednesday, November 14th.

On average, analysts expect that Achaogen will report full year sales of $14.40 million for the current year, with estimates ranging from $6.00 million to $21.50 million. For the next year, analysts expect that the firm will report sales of $46.71 million per share, with estimates ranging from $23.00 million to $87.72 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Achaogen.

Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Monday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.19). The business had revenue of $2.56 million during the quarter, compared to analyst estimates of $1.49 million. Achaogen had a negative net margin of 2,286.21% and a negative return on equity of 146.50%.

AKAO has been the subject of several research analyst reports. BidaskClub raised Achaogen from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 21st. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price objective (up from $19.00) on shares of Achaogen in a research note on Monday, April 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Achaogen in a research note on Monday, April 30th. Zacks Investment Research downgraded Achaogen from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. Finally, Mizuho reaffirmed a “buy” rating on shares of Achaogen in a research note on Thursday, May 3rd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $19.62.

NASDAQ AKAO opened at $5.68 on Friday. Achaogen has a 1-year low of $5.11 and a 1-year high of $19.74. The company has a market capitalization of $280.75 million, a P/E ratio of -1.79 and a beta of 0.83. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 0.42.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKAO. Stifel Financial Corp purchased a new position in Achaogen during the first quarter worth $134,000. MetLife Investment Advisors LLC purchased a new position in Achaogen during the fourth quarter worth $151,000. DekaBank Deutsche Girozentrale purchased a new position in Achaogen during the first quarter worth $207,000. Granite Investment Partners LLC purchased a new position in Achaogen during the first quarter worth $211,000. Finally, Two Sigma Investments LP purchased a new position in Achaogen during the fourth quarter worth $260,000. 68.61% of the stock is owned by hedge funds and other institutional investors.

About Achaogen

Achaogen, Inc, a late-stage biopharmaceutical company, focusses on the discovery, development, and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections in the United States. The company is principally developing plazomicin for the treatment of serious bacterial infections, including urinary tract infections, blood stream infections, and other infections due to MDR enterobacteriaceae comprising carbapenem-resistant enterobacteriaceae.

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