Shares of Akcea Therapeutics Inc (NASDAQ:AKCA) have been given an average recommendation of “Hold” by the nine analysts that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $40.50.
AKCA has been the subject of a number of research analyst reports. ValuEngine upgraded Akcea Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, September 26th. Stifel Nicolaus boosted their price target on Akcea Therapeutics from $25.00 to $31.00 and gave the company a “hold” rating in a report on Tuesday, September 25th. Zacks Investment Research upgraded Akcea Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Finally, Needham & Company LLC started coverage on Akcea Therapeutics in a report on Tuesday, September 18th. They issued a “buy” rating and a $45.00 price target for the company.
Institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc grew its stake in Akcea Therapeutics by 17.8% during the 3rd quarter. Legal & General Group Plc now owns 2,237 shares of the company’s stock worth $79,000 after buying an additional 338 shares during the last quarter. Ibex Investors LLC acquired a new position in Akcea Therapeutics during the 3rd quarter worth $251,000. Paloma Partners Management Co acquired a new position in Akcea Therapeutics during the 2nd quarter worth $216,000. MetLife Investment Advisors LLC acquired a new position in Akcea Therapeutics during the 3rd quarter worth $394,000. Finally, Bank of America Corp DE boosted its position in Akcea Therapeutics by 79.8% during the 2nd quarter. Bank of America Corp DE now owns 12,368 shares of the company’s stock worth $293,000 after acquiring an additional 5,490 shares during the period. Hedge funds and other institutional investors own 26.13% of the company’s stock.
Akcea Therapeutics (NASDAQ:AKCA) last issued its quarterly earnings results on Monday, November 5th. The company reported ($0.73) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.97) by $0.24. Akcea Therapeutics had a negative return on equity of 77.04% and a negative net margin of 245.68%. The business had revenue of $19.24 million during the quarter, compared to the consensus estimate of $20.52 million. During the same period in the previous year, the business earned ($0.33) EPS. The business’s quarterly revenue was up 94.3% on a year-over-year basis. Research analysts forecast that Akcea Therapeutics will post -2.52 EPS for the current 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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