Akcea Therapeutics Inc (NASDAQ:AKCA) shares rose 18.2% during trading on Monday . The stock traded as high as $33.42 and last traded at $33.08. Approximately 719,500 shares were traded during mid-day trading, an increase of 117% from the average daily volume of 332,009 shares. The stock had previously closed at $27.98.

AKCA has been the subject of several recent analyst reports. Needham & Company LLC initiated coverage on shares of Akcea Therapeutics in a research report on Tuesday, September 18th. They issued a “buy” rating and a $45.00 target price for the company. ValuEngine cut shares of Akcea Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Cowen reiterated a “hold” rating on shares of Akcea Therapeutics in a report on Sunday, September 2nd. Zacks Investment Research upgraded shares of Akcea Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, July 9th. Finally, Stifel Nicolaus decreased their price objective on shares of Akcea Therapeutics from $33.00 to $25.00 and set a “hold” rating for the company in a report on Tuesday, August 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $38.20.

Akcea Therapeutics (NASDAQ:AKCA) last posted its quarterly earnings data on Monday, August 6th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.32. The business had revenue of $18.30 million during the quarter, compared to analysts’ expectations of $14.24 million. Akcea Therapeutics had a negative net margin of 192.97% and a negative return on equity of 58.32%. The business’s revenue was up 221.1% on a year-over-year basis. During the same period last year, the firm posted ($0.41) earnings per share. analysts forecast that Akcea Therapeutics Inc will post -2.45 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of AKCA. Quantbot Technologies LP bought a new position in shares of Akcea Therapeutics in the first quarter valued at approximately $104,000. Cubist Systematic Strategies LLC bought a new stake in Akcea Therapeutics during the first quarter worth approximately $201,000. Paloma Partners Management Co bought a new stake in Akcea Therapeutics during the second quarter worth approximately $216,000. Barclays PLC boosted its holdings in Akcea Therapeutics by 375.7% during the first quarter. Barclays PLC now owns 11,312 shares of the company’s stock worth $290,000 after buying an additional 8,934 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Akcea Therapeutics by 79.8% during the second quarter. Bank of America Corp DE now owns 12,368 shares of the company’s stock worth $293,000 after buying an additional 5,490 shares in the last quarter. Institutional investors and hedge funds own 26.58% of the company’s stock.

Akcea Therapeutics Company Profile (NASDAQ:AKCA)

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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