Akcea Therapeutics (NASDAQ:AKCA)‘s stock had its “hold” rating restated by Cowen in a research note issued to investors on Wednesday, November 6th, AnalystRatings.com reports.
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A number of other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Akcea Therapeutics from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Friday, August 9th. BMO Capital Markets cut their price target on shares of Akcea Therapeutics from $43.00 to $39.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. ValuEngine upgraded shares of Akcea Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Wells Fargo & Co upgraded shares of Akcea Therapeutics from a “market perform” rating to an “outperform” rating in a report on Monday, October 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Akcea Therapeutics in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.50.
Shares of AKCA stock traded up $0.20 on Wednesday, hitting $19.31. 169,700 shares of the company’s stock traded hands, compared to its average volume of 169,422. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -7.05 and a beta of 1.54. The company’s fifty day simple moving average is $18.21 and its 200 day simple moving average is $21.18. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.26 and a current ratio of 6.46. Akcea Therapeutics has a one year low of $13.90 and a one year high of $35.82.
Akcea Therapeutics (NASDAQ:AKCA) last announced its earnings results on Tuesday, November 5th. The company reported ($0.34) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.55) by $0.21. Akcea Therapeutics had a negative net margin of 50.71% and a negative return on equity of 33.00%. The business had revenue of $20.62 million for the quarter, compared to the consensus estimate of $22.54 million. During the same quarter in the prior year, the firm posted ($0.73) earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Akcea Therapeutics will post 1.62 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of AKCA. Vanguard Group Inc. raised its position in Akcea Therapeutics by 24.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,601,976 shares of the company’s stock worth $37,565,000 after buying an additional 311,366 shares during the last quarter. Alps Advisors Inc. purchased a new position in Akcea Therapeutics during the 2nd quarter worth approximately $4,535,000. Russell Investments Group Ltd. acquired a new stake in shares of Akcea Therapeutics during the 3rd quarter worth approximately $949,000. Morgan Stanley grew its stake in shares of Akcea Therapeutics by 23.1% during the 2nd quarter. Morgan Stanley now owns 227,619 shares of the company’s stock worth $5,337,000 after purchasing an additional 42,720 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Akcea Therapeutics by 305.5% during the 2nd quarter. Bank of America Corp DE now owns 28,718 shares of the company’s stock worth $673,000 after purchasing an additional 21,636 shares during the period. 25.44% of the stock is owned by institutional investors.
About Akcea Therapeutics
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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