Schwab Charles Investment Management Inc. trimmed its position in shares of Akcea Therapeutics Inc (NASDAQ:AKCA) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,060 shares of the company’s stock after selling 5,082 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.08% of Akcea Therapeutics worth $1,685,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of AKCA. Quantbot Technologies LP bought a new stake in Akcea Therapeutics during the 1st quarter valued at approximately $104,000. Cubist Systematic Strategies LLC bought a new stake in Akcea Therapeutics during the 1st quarter valued at approximately $201,000. Barclays PLC boosted its position in Akcea Therapeutics by 375.7% during the 1st quarter. Barclays PLC now owns 11,312 shares of the company’s stock valued at $290,000 after acquiring an additional 8,934 shares in the last quarter. Millennium Management LLC bought a new stake in Akcea Therapeutics during the 1st quarter valued at approximately $310,000. Finally, Strs Ohio boosted its position in Akcea Therapeutics by 241.9% during the 2nd quarter. Strs Ohio now owns 14,700 shares of the company’s stock valued at $348,000 after acquiring an additional 10,400 shares in the last quarter. 26.58% of the stock is currently owned by institutional investors and hedge funds.
AKCA has been the topic of several research reports. Zacks Investment Research cut Akcea Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. ValuEngine raised Akcea Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, July 16th. Stifel Nicolaus reiterated a “hold” rating and set a $33.00 target price on shares of Akcea Therapeutics in a report on Tuesday, August 7th. Wells Fargo & Co lifted their target price on shares of Akcea Therapeutics from $33.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th. Finally, BMO Capital Markets lifted their target price on shares of Akcea Therapeutics from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Akcea Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $38.20.
AKCA stock opened at $23.31 on Friday. Akcea Therapeutics Inc has a 52-week low of $15.20 and a 52-week high of $40.75. The company has a market cap of $3.00 billion, a PE ratio of -11.59 and a beta of 0.07.
Akcea Therapeutics (NASDAQ:AKCA) last released its earnings results on Monday, August 6th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.04) by $0.32. Akcea Therapeutics had a negative net margin of 192.97% and a negative return on equity of 58.32%. The firm had revenue of $18.30 million during the quarter, compared to analyst estimates of $14.24 million. During the same period last year, the business earned ($0.41) earnings per share. The business’s revenue was up 221.1% on a year-over-year basis. As a group, sell-side analysts predict that Akcea Therapeutics Inc will post -2.46 EPS for the current fiscal 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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