Bank of New York Mellon Corp purchased a new stake in shares of Akcea Therapeutics Inc (NASDAQ:AKCA) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 51,068 shares of the company’s stock, valued at approximately $1,413,000. Bank of New York Mellon Corp owned approximately 0.08% of Akcea Therapeutics at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Strs Ohio bought a new position in shares of Akcea Therapeutics during the third quarter valued at $118,000. Nationwide Fund Advisors bought a new position in shares of Akcea Therapeutics during the third quarter valued at $209,000. Rhumbline Advisers bought a new position in shares of Akcea Therapeutics during the third quarter valued at $353,000. New York State Common Retirement Fund bought a new position in shares of Akcea Therapeutics during the third quarter valued at $810,000. Finally, Candriam Luxembourg S.C.A. bought a new position in shares of Akcea Therapeutics during the third quarter valued at $5,314,000. Hedge funds and other institutional investors own 26.04% of the company’s stock.
AKCA has been the subject of several analyst reports. Zacks Investment Research downgraded Akcea Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Cowen restated a “buy” rating on shares of Akcea Therapeutics in a report on Tuesday, October 31st. Stifel Nicolaus restated a “buy” rating and set a $20.00 price target (up from $19.00) on shares of Akcea Therapeutics in a report on Tuesday, November 7th. Finally, BidaskClub downgraded Akcea Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, December 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $22.75.
Shares of Akcea Therapeutics Inc (NASDAQ:AKCA) opened at $17.30 on Thursday. Akcea Therapeutics Inc has a twelve month low of $8.10 and a twelve month high of $31.23.
Akcea Therapeutics (NASDAQ:AKCA) last released its quarterly earnings data on Monday, November 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.03. research analysts predict that Akcea Therapeutics Inc will post -1.98 EPS for the current fiscal year.
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About Akcea Therapeutics
Akcea Therapeutics, Inc is a biopharmaceutical company. The Company is focused on developing and commercializing drugs to treat patients with serious cardiometabolic diseases caused by lipid disorders. The Company’s drugs, volanesorsen, AKCEA-APO(a)-LRx, AKCEA-ANGPTL3-LRx and AKCEA-APOCIII-LRx, are all based on antisense technology developed by Ionis Pharmaceuticals, Inc (Ionis).
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