Zacks Investment Research Lowers Akcea Therapeutics (NASDAQ:AKCA) to Strong Sell

Zacks Investment Research cut shares of Akcea Therapeutics (NASDAQ:AKCA) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning, 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 Xylem from a hold rating to a buy rating in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $39.40.

NASDAQ:AKCA opened at $24.56 on Tuesday. Akcea Therapeutics has a 1-year low of $19.67 and a 1-year high of $40.75. The firm has a 50-day moving average of $22.57. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -8.96 and a beta of 1.57.

Akcea Therapeutics (NASDAQ:AKCA) last released its earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.90). The company had revenue of $163.82 million during the quarter, compared to analyst estimates of $171.40 million. Akcea Therapeutics had a negative net margin of 79.88% and a negative return on equity of 54.63%. The company’s quarterly revenue was up 857.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.44) EPS. As a group, sell-side analysts expect that Akcea Therapeutics will post -0.63 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AKCA. Quantamental Technologies LLC acquired a new stake in shares of Akcea Therapeutics during the first quarter worth about $74,000. BNP Paribas Arbitrage SA raised its position 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 purchasing an additional 2,829 shares during the period. Marshall Wace North America L.P. acquired a new stake in Akcea Therapeutics in the 1st quarter valued at approximately $106,000. Metropolitan Life Insurance Co. NY raised its position in Akcea Therapeutics by 350.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,008 shares of the company’s stock valued at $151,000 after buying an additional 3,896 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Akcea Therapeutics by 47.6% in the 1st quarter. SG Americas Securities LLC now owns 5,677 shares of the company’s stock valued at $161,000 after buying an additional 1,831 shares during the last quarter. 25.30% of the stock is currently owned by 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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