Swiss National Bank purchased a new stake in Akcea Therapeutics (NASDAQ:AKCA) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 28,300 shares of the company’s stock, valued at approximately $491,000.
Several other institutional investors have also recently bought and sold shares of AKCA. Legal & General Group Plc acquired a new stake in Akcea Therapeutics during the 3rd quarter worth $111,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Akcea Therapeutics in the third quarter valued at $180,000. SG Americas Securities LLC acquired a new position in Akcea Therapeutics in the fourth quarter valued at $121,000. Nationwide Fund Advisors acquired a new position in Akcea Therapeutics in the third quarter valued at $209,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Akcea Therapeutics by 13.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 67,718 shares of the company’s stock valued at $1,176,000 after acquiring an additional 7,957 shares in the last quarter. 29.14% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Akcea Therapeutics from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. BidaskClub downgraded shares of Akcea Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Zacks Investment Research cut shares of Akcea Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Stifel Nicolaus boosted their price objective on shares of Akcea Therapeutics from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, March 16th. Finally, Wells Fargo reaffirmed a “market perform” rating and set a $20.00 price target on shares of Akcea Therapeutics in a research report on Monday, March 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Akcea Therapeutics has an average rating of “Buy” and a consensus price target of $24.75.
Shares of AKCA stock traded down $3.11 during trading hours on Friday, reaching $21.62. The stock had a trading volume of 264,642 shares, compared to its average volume of 468,321. Akcea Therapeutics has a twelve month low of $8.10 and a twelve month high of $33.99. The stock has a market cap of $1,442.49 and a PE ratio of -9.65.
Akcea Therapeutics (NASDAQ:AKCA) last announced its earnings results on Monday, February 26th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.03). The company had revenue of $18.04 million for the quarter, compared to analysts’ expectations of $15.48 million. analysts expect that Akcea Therapeutics will post -1.32 earnings per share for the current fiscal year.
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About Akcea Therapeutics
Akcea Therapeutics, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing drugs to treat patients with cardiometabolic diseases caused by lipid disorders in the United States and internationally. It develops Volanesorsen, which has completed Phase 3 clinical study for the treatment of familial chylomicronemia syndrome; and that is in Phase 3 clinical study for the treatment of familial partial lipodystrophy.
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