Akcea Therapeutics (AKCA) Upgraded to Hold at Zacks Investment Research

Akcea Therapeutics (NASDAQ:AKCA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Akcea Therapeutics, Inc. is a biopharmaceutical company. It focuses on developing and commercializing drugs to treat patients with cardiometabolic diseases caused by lipid disorders in the United States and internationally. The Company’s drug pipeline consists of volanesorsen, AKCEA-APO(a)-LRx, AKCEA-ANGPTL3-LRx and AKCEA-APOCIII-LRx which are in clinical stage. Akcea Therapeutics, Inc. is headquartered in Cambridge, Massachusetts. “

Separately, ValuEngine raised shares of Akcea Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $39.40.

Shares of Akcea Therapeutics stock traded down $1.16 during trading on Wednesday, hitting $21.01. 5,892 shares of the stock traded hands, compared to its average volume of 236,395. The firm has a market cap of $2.06 billion, a P/E ratio of -7.67 and a beta of 1.39. The company has a current ratio of 6.61, a quick ratio of 3.31 and a debt-to-equity ratio of 0.04. Akcea Therapeutics has a 52-week low of $19.67 and a 52-week high of $40.75.

Akcea Therapeutics (NASDAQ:AKCA) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.90). The firm had revenue of $163.82 million for the quarter, compared to analysts’ expectations of $171.40 million. Akcea Therapeutics had a negative net margin of 79.88% and a negative return on equity of 54.63%. The business’s quarterly revenue was up 857.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.44) EPS. Analysts forecast that Akcea Therapeutics will post -0.63 earnings per share for the current year.

In other news, COO Jeff Marc Goldberg sold 50,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $31.71, for a total value of $1,585,500.00. Following the transaction, the chief operating officer now directly owns 32,880 shares of the company’s stock, valued at $1,042,624.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paula Soteropoulos sold 31,787 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $32.11, for a total transaction of $1,020,680.57. Following the completion of the transaction, the chief executive officer now directly owns 30,000 shares in the company, valued at $963,300. The disclosure for this sale can be found here. Insiders sold 130,173 shares of company stock worth $4,148,407 over the last ninety days. 3.64% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of AKCA. Quantamental Technologies LLC bought a new stake in shares of Akcea Therapeutics in the first quarter valued at about $74,000. Legal & General Group Plc increased its holdings in shares of Akcea Therapeutics by 17.8% during the third quarter. Legal & General Group Plc now owns 2,237 shares of the company’s stock worth $79,000 after buying an additional 338 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Akcea Therapeutics by 842.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,165 shares of the company’s stock worth $90,000 after buying an additional 2,829 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Akcea Therapeutics during the first quarter worth approximately $106,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Akcea Therapeutics during the fourth quarter worth approximately $116,000. 25.26% of the stock is currently owned by hedge funds and other institutional investors.

Akcea Therapeutics Company Profile

Akcea Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing drugs to treat patients with serious and rare diseases in the United States and internationally. The company offers TEGSEDI, which is designed to reduce the production of transthyretin protein. It develops WAYLIVRA, which has completed Phase III clinical study for the treatment of familial chylomicronemia syndrome; and that is in Phase III clinical study for the treatment of familial partial lipodystrophy.

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