Akcea Therapeutics (AKCA) Receives $26.67 Consensus PT from Analysts

Shares of Akcea Therapeutics (NASDAQ:AKCA) have been given an average rating of “Buy” by the six brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $26.67.

Several equities research analysts recently weighed in on AKCA shares. BidaskClub raised Akcea Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. Zacks Investment Research raised Akcea Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, January 2nd. Stifel Nicolaus increased their price target on Akcea Therapeutics from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, March 16th. Finally, Cowen downgraded Akcea Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 27th.

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Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new stake in Akcea Therapeutics in the third quarter valued at $111,000. SG Americas Securities LLC acquired a new stake in Akcea Therapeutics in the fourth quarter valued at $121,000. Nationwide Fund Advisors acquired a new stake in Akcea Therapeutics in the third quarter valued at $209,000. Wells Fargo & Company MN acquired a new stake in Akcea Therapeutics in the third quarter valued at $222,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Akcea Therapeutics in the third quarter valued at $269,000. 29.10% of the stock is owned by institutional investors.

Shares of NASDAQ AKCA traded down $0.79 during mid-day trading on Monday, hitting $23.18. 133,847 shares of the company were exchanged, compared to its average volume of 332,410. Akcea Therapeutics has a 1-year low of $8.10 and a 1-year high of $33.99. The company has a market cap of $1,599.28 and a PE ratio of -10.35.

Akcea Therapeutics (NASDAQ:AKCA) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.03). The company had revenue of $18.04 million during the quarter, compared to analysts’ expectations of $15.48 million. research analysts expect that Akcea Therapeutics will post -1.32 EPS for the current 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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