Wells Fargo upgraded shares of Akcea Therapeutics (NASDAQ:AKCA) from a market perform rating to an outperform rating in a report issued on Friday morning, MarketBeat Ratings reports.
Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of Akcea Therapeutics from a strong-buy rating to a buy rating in a research note on Friday, April 6th. Stifel Nicolaus raised their price objective on shares of Akcea Therapeutics from $20.00 to $30.00 and gave the company a buy rating in a research note on Friday, March 16th. Zacks Investment Research lowered shares of Akcea Therapeutics from a hold rating to a sell rating in a research note on Thursday, March 1st. BMO Capital Markets raised their price objective on shares of Akcea Therapeutics from $25.00 to $30.00 and gave the company an outperform rating in a research note on Tuesday, February 27th. Finally, ValuEngine upgraded shares of Akcea Therapeutics from a sell rating to a hold rating in a research note on Wednesday, May 2nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Akcea Therapeutics presently has a consensus rating of Hold and an average price target of $29.25.
AKCA opened at $22.53 on Friday. Akcea Therapeutics has a twelve month low of $22.74 and a twelve month high of $23.51.
Akcea Therapeutics (NASDAQ:AKCA) last released its quarterly earnings results on Thursday, May 3rd. The company reported ($0.44) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.07). The business had revenue of $17.11 million for the quarter, compared to the consensus estimate of $12.12 million. Akcea Therapeutics had a negative net margin of 126.00% and a negative return on equity of 75.90%. The firm’s revenue was up 181.0% compared to the same quarter last year. equities analysts anticipate that Akcea Therapeutics will post -1.82 earnings per share for the current year.
In related news, major shareholder Ionis Pharmaceuticals Inc acquired 10,666,666 shares of the stock in a transaction that occurred on Tuesday, April 17th. The shares were acquired at an average price of $18.75 per share, for a total transaction of $199,999,987.50. Following the completion of the purchase, the insider now directly owns 53,447,879 shares of the company’s stock, valued at $1,002,147,731.25. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.88% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new position in shares of Akcea Therapeutics during the first quarter valued at approximately $104,000. SG Americas Securities LLC acquired a new position in shares of Akcea Therapeutics during the fourth quarter valued at approximately $121,000. Wells Fargo & Company MN acquired a new position in Akcea Therapeutics in the third quarter worth approximately $222,000. MetLife Investment Advisors LLC acquired a new position in Akcea Therapeutics in the fourth quarter worth approximately $199,000. Finally, Ardsley Advisory Partners grew its position in Akcea Therapeutics by 50.0% in the fourth quarter. Ardsley Advisory Partners now owns 15,000 shares of the company’s stock worth $260,000 after buying an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.
Akcea Therapeutics Company Profile
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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