Akcea Therapeutics Inc (NASDAQ:AKCA) Short Interest Update

Akcea Therapeutics Inc (NASDAQ:AKCA) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 5,160,000 shares, a decline of 14.3% from the August 30th total of 6,020,000 shares. Approximately 35.0% of the company’s shares are sold short. Based on an average trading volume of 263,500 shares, the short-interest ratio is presently 19.6 days.

NASDAQ:AKCA traded up $0.42 during mid-day trading on Monday, hitting $20.17. The stock had a trading volume of 1,745 shares, compared to its average volume of 449,151. Akcea Therapeutics has a twelve month low of $13.90 and a twelve month high of $35.82. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -7.27 and a beta of 1.50. The company’s 50 day simple moving average is $19.46 and its 200 day simple moving average is $22.88. 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 earnings results on Tuesday, August 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.02). Akcea Therapeutics had a negative net margin of 65.62% and a negative return on equity of 43.87%. The firm had revenue of $26.62 million during the quarter, compared to analyst estimates of $25.78 million. During the same quarter last year, the business posted ($0.85) earnings per share. The company’s revenue for the quarter was up 45.3% on a year-over-year basis. As a group, equities analysts forecast that Akcea Therapeutics will post -1.18 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Marshall Wace North America L.P. acquired a new stake in Akcea Therapeutics during the first quarter worth approximately $106,000. Jefferies Group LLC acquired a new stake in Akcea Therapeutics during the second quarter worth approximately $254,000. Virtus ETF Advisers LLC lifted its position in Akcea Therapeutics by 37.6% during the second quarter. Virtus ETF Advisers LLC now owns 11,730 shares of the company’s stock worth $275,000 after acquiring an additional 3,203 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Akcea Therapeutics by 57.0% during the second quarter. Parametric Portfolio Associates LLC now owns 11,955 shares of the company’s stock worth $280,000 after acquiring an additional 4,339 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Akcea Therapeutics during the second quarter worth approximately $280,000. Institutional investors and hedge funds own 25.39% of the company’s stock.

Several analysts have commented on AKCA shares. ValuEngine upgraded shares of Akcea Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. BMO Capital Markets dropped their target price on shares of Akcea Therapeutics from $43.00 to $39.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Cowen reiterated a “hold” rating on shares of Akcea Therapeutics in a research report on Monday, September 23rd. Zacks Investment Research upgraded shares of 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. Finally, Wells Fargo & Co upgraded shares of Akcea Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $33.25.

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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