Akcea Therapeutics Inc (NASDAQ:AKCA) has received an average rating of “Hold” from the seven analysts that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $34.00.
Several analysts recently commented on AKCA shares. Wells Fargo & Co downgraded Akcea Therapeutics from an “outperform” rating to a “market perform” rating and set a $27.00 price objective on the stock. in a research note on Tuesday, February 27th. Cowen downgraded Akcea Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 27th. Stifel Nicolaus downgraded Akcea Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research note on Tuesday, February 27th. BMO Capital Markets raised their price objective on Akcea Therapeutics from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Finally, Zacks Investment Research downgraded Akcea Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st.
In other news, major shareholder Ionis Pharmaceuticals Inc bought 10,666,666 shares of the stock in a transaction on Tuesday, April 17th. The stock was purchased at an average price of $18.75 per share, for a total transaction of $199,999,987.50. Following the acquisition, the insider now owns 53,447,879 shares in the company, valued at $1,002,147,731.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.88% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new position in shares of Akcea Therapeutics in the 1st quarter valued at about $104,000. SG Americas Securities LLC bought a new position in shares of Akcea Therapeutics in the 4th quarter valued at about $121,000. MetLife Investment Advisors LLC bought a new position in shares of Akcea Therapeutics in the 4th quarter valued at about $199,000. Cubist Systematic Strategies LLC bought a new position in shares of Akcea Therapeutics in the 1st quarter valued at about $201,000. Finally, Ardsley Advisory Partners grew its holdings in Akcea Therapeutics by 50.0% during the fourth quarter. Ardsley Advisory Partners now owns 15,000 shares of the company’s stock worth $260,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 23.96% of the company’s stock.
Shares of Akcea Therapeutics traded up $0.09, reaching $26.46, during trading hours on Friday, Marketbeat.com reports. The company had a trading volume of 710 shares, compared to its average volume of 248,293. The company has a market cap of $2.24 billion and a P/E ratio of -11.61. Akcea Therapeutics has a 1-year low of $8.10 and a 1-year high of $33.99.
Akcea Therapeutics (NASDAQ:AKCA) last posted 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 company had revenue of $17.11 million during the quarter, compared to analyst estimates of $12.12 million. Akcea Therapeutics had a negative net margin of 126.00% and a negative return on equity of 75.90%. Akcea Therapeutics’s quarterly revenue was up 181.0% on a year-over-year basis. analysts predict that Akcea Therapeutics will post -1.82 EPS for the current year.
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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