Akcea Therapeutics (NASDAQ:AKCA) Trading 6.1% Higher

Akcea Therapeutics Inc (NASDAQ:AKCA) shares traded up 6.1% during trading on Monday . The company traded as high as $22.26 and last traded at $22.22, 185,583 shares changed hands during trading. A decline of 13% from the average session volume of 213,223 shares. The stock had previously closed at $20.95.

A number of research analysts have 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 for the company in a research report on Friday, August 9th. BMO Capital Markets set a $43.00 price target on shares of Akcea Therapeutics and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, ValuEngine lowered shares of Akcea Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Akcea Therapeutics has an average rating of “Buy” and an average target price of $36.00.

The firm’s 50-day moving average is $21.22 and its 200-day moving average is $24.44. The company has a market capitalization of $2.07 billion, a PE ratio of -8.11 and a beta of 1.58. The company has a quick ratio of 6.32, a current ratio of 6.48 and a debt-to-equity ratio of 0.04.

Akcea Therapeutics (NASDAQ:AKCA) last announced its earnings results on Tuesday, August 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Akcea Therapeutics had a negative return on equity of 43.87% and a negative net margin of 65.62%. The company had revenue of $26.62 million during the quarter, compared to analysts’ expectations of $25.78 million. During the same quarter last year, the firm posted ($0.85) earnings per share. The firm’s revenue was up 45.3% on a year-over-year basis. As a group, equities research analysts predict that Akcea Therapeutics Inc will post -1.21 EPS for the current year.

In related news, President Sarah Boyce sold 1,819 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $23.52, for a total value of $42,782.88. Following the completion of the transaction, the president now directly owns 19,888 shares in the company, valued at $467,765.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Jefferies Group LLC purchased a new stake in Akcea Therapeutics during the second quarter valued at about $254,000. Morgan Stanley boosted its position in Akcea Therapeutics by 23.1% during the second quarter. Morgan Stanley now owns 227,619 shares of the company’s stock valued at $5,337,000 after buying an additional 42,720 shares during the period. Bank of America Corp DE boosted its position in Akcea Therapeutics by 305.5% during the second quarter. Bank of America Corp DE now owns 28,718 shares of the company’s stock valued at $673,000 after buying an additional 21,636 shares during the period. Vanguard Group Inc. boosted its position in Akcea Therapeutics by 24.1% during the second quarter. Vanguard Group Inc. now owns 1,601,976 shares of the company’s stock valued at $37,565,000 after buying an additional 311,366 shares during the period. Finally, BlackRock Inc. boosted its position in Akcea Therapeutics by 1.1% during the second quarter. BlackRock Inc. now owns 1,907,412 shares of the company’s stock valued at $44,729,000 after buying an additional 21,377 shares during the period. Institutional investors own 25.39% of the company’s stock.

Akcea Therapeutics Company Profile (NASDAQ:AKCA)

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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