Akcea Therapeutics (NASDAQ:AKCA) Upgraded at ValuEngine

ValuEngine upgraded shares of Akcea Therapeutics (NASDAQ:AKCA) from a hold rating to a buy rating in a research report released on Thursday, ValuEngine reports.

A number of other research analysts also recently weighed in on AKCA. BMO Capital Markets set a $43.00 price objective on shares of Akcea Therapeutics and gave the company a buy rating in a research report on Wednesday, August 7th. Zacks Investment Research upgraded shares of Akcea Therapeutics from a hold rating to a buy rating and set a $25.00 price objective on the stock in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $36.00.

Shares of Akcea Therapeutics stock opened at $21.28 on Thursday. The company’s 50 day moving average is $22.41 and its 200 day moving average is $25.30. Akcea Therapeutics has a twelve month low of $19.08 and a twelve month high of $37.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.32 and a current ratio of 6.48.



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

In related news, President Sarah Boyce sold 1,819 shares of the 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 owns 19,888 shares in the company, valued at $467,765.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.10% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Jefferies Group LLC purchased a new position in shares of Akcea Therapeutics in the 2nd quarter worth approximately $254,000. Morgan Stanley grew its position in shares of Akcea Therapeutics by 23.1% in the 2nd quarter. Morgan Stanley now owns 227,619 shares of the company’s stock worth $5,337,000 after buying an additional 42,720 shares during the last quarter. Bank of America Corp DE grew its position in shares of Akcea Therapeutics by 305.5% in the 2nd quarter. Bank of America Corp DE now owns 28,718 shares of the company’s stock worth $673,000 after buying an additional 21,636 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Akcea Therapeutics by 24.1% in 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. Finally, BlackRock Inc. grew its position in shares of Akcea Therapeutics by 1.1% in the 2nd quarter. BlackRock Inc. now owns 1,907,412 shares of the company’s stock worth $44,729,000 after buying an additional 21,377 shares during the last quarter. Institutional investors own 25.18% 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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