Akcea Therapeutics (NASDAQ:AKCA) Downgraded to “Strong Sell” at Zacks Investment Research

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



Shares of NASDAQ:AKCA opened at $25.34 on Tuesday. The stock’s fifty day moving average is $22.64. Akcea Therapeutics has a 12 month low of $19.67 and a 12 month high of $40.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.61 and a quick ratio of 6.61. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -9.25 and a beta of 1.57.

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 Thomson Reuters’ consensus estimate of $1.24 by ($0.90). Akcea Therapeutics had a negative return on equity of 54.63% and a negative net margin of 79.88%. The company had revenue of $163.82 million for the quarter, compared to analyst estimates of $171.40 million. During the same quarter in the prior year, the business earned ($0.44) earnings per share. Akcea Therapeutics’s revenue was up 857.5% compared to the same quarter last year. Research analysts anticipate that Akcea Therapeutics will post -0.63 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its stake in Akcea Therapeutics by 2.4% during the 1st quarter. Rhumbline Advisers now owns 17,159 shares of the company’s stock worth $486,000 after acquiring an additional 409 shares in the last quarter. First Trust Advisors LP increased its stake in Akcea Therapeutics by 0.6% in the first quarter. First Trust Advisors LP now owns 74,954 shares of the company’s stock valued at $2,123,000 after purchasing an additional 460 shares during the period. Squarepoint Ops LLC increased its stake in Akcea Therapeutics by 9.8% in the fourth quarter. Squarepoint Ops LLC now owns 13,502 shares of the company’s stock valued at $407,000 after purchasing an additional 1,202 shares during the period. SG Americas Securities LLC increased its stake in Akcea Therapeutics by 47.6% in the first quarter. SG Americas Securities LLC now owns 5,677 shares of the company’s stock valued at $161,000 after purchasing an additional 1,831 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in Akcea Therapeutics in the first quarter valued at $74,000. Hedge funds and other institutional investors own 25.30% of the company’s stock.

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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