Akcea Therapeutics (NASDAQ:AKCA) Downgraded by ValuEngine

Akcea Therapeutics (NASDAQ:AKCA) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, ValuEngine reports.

AKCA has been the subject of several other reports. Zacks Investment Research upgraded Akcea Therapeutics from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Friday, August 9th. BMO Capital Markets set a $43.00 target price on shares of Akcea Therapeutics and gave the company a “buy” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $36.00.

Shares of NASDAQ AKCA traded up $0.59 during midday trading on Wednesday, hitting $22.17. The company’s stock had a trading volume of 156,536 shares, compared to its average volume of 214,099. Akcea Therapeutics has a 12-month low of $18.68 and a 12-month high of $37.73. The company has a current ratio of 6.48, a quick ratio of 6.32 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.86 billion, a P/E ratio of -8.09 and a beta of 1.58. The business’s 50 day moving average is $21.28 and its two-hundred day moving average is $24.59.

Akcea Therapeutics (NASDAQ:AKCA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.02). The business had revenue of $26.62 million for the quarter, compared to analysts’ expectations of $25.78 million. Akcea Therapeutics had a negative net margin of 65.62% and a negative return on equity of 43.87%. Akcea Therapeutics’s revenue was up 45.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.85) EPS. On average, analysts predict that Akcea Therapeutics will post -1.21 earnings per share for the current fiscal year.

In other news, President Sarah Boyce sold 1,819 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $23.52, for a total transaction of $42,782.88. Following the transaction, the president now directly owns 19,888 shares of the company’s stock, valued at $467,765.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its holdings in Akcea Therapeutics by 842.0% during the 1st 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. SG Americas Securities LLC lifted its holdings in shares of Akcea Therapeutics by 47.6% in the 1st quarter. SG Americas Securities LLC now owns 5,677 shares of the company’s stock worth $161,000 after buying an additional 1,831 shares during the period. Rhumbline Advisers lifted its holdings in shares of Akcea Therapeutics by 2.4% in the 1st quarter. Rhumbline Advisers now owns 17,159 shares of the company’s stock worth $486,000 after buying an additional 409 shares during the period. Motley Fool Asset Management LLC lifted its holdings in shares of Akcea Therapeutics by 19.8% in the 1st quarter. Motley Fool Asset Management LLC now owns 62,557 shares of the company’s stock worth $1,772,000 after buying an additional 10,340 shares during the period. Finally, Quantinno Capital Management LP bought a new position in shares of Akcea Therapeutics during the 1st quarter worth $758,000. Hedge funds and other institutional investors own 25.39% of the company’s stock.

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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