Akcea Therapeutics Inc (AKCA) Given Consensus Rating of “Buy” by Analysts
Shares of Akcea Therapeutics Inc (NASDAQ:AKCA) have been given an average recommendation of “Buy” by the six analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $24.00.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Akcea Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. BidaskClub raised Akcea Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday. Cowen reaffirmed a “buy” rating on shares of Akcea Therapeutics in a report on Tuesday, October 31st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 target price (up from $19.00) on shares of Akcea Therapeutics in a report on Tuesday, November 7th.
Several hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Akcea Therapeutics in the fourth quarter valued at approximately $121,000. Schwab Charles Investment Management Inc. grew its holdings in Akcea Therapeutics by 13.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 67,718 shares of the company’s stock valued at $1,176,000 after purchasing an additional 7,957 shares during the period. Cubist Systematic Strategies LLC bought a new position in Akcea Therapeutics during the third quarter valued at $269,000. Granahan Investment Management Inc. MA bought a new position in Akcea Therapeutics during the third quarter valued at $8,528,000. Finally, California State Teachers Retirement System bought a new position in Akcea Therapeutics during the third quarter valued at $672,000. 26.06% of the stock is owned by institutional investors.
Akcea Therapeutics (NASDAQ:AKCA) last released its earnings results on Monday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.03. research analysts forecast that Akcea Therapeutics will post -2.46 EPS for the current year.
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Akcea Therapeutics Company Profile
Akcea Therapeutics, Inc is a biopharmaceutical company. The Company is focused on developing and commercializing drugs to treat patients with serious cardiometabolic diseases caused by lipid disorders. The Company’s drugs, volanesorsen, AKCEA-APO(a)-LRx, AKCEA-ANGPTL3-LRx and AKCEA-APOCIII-LRx, are all based on antisense technology developed by Ionis Pharmaceuticals, Inc (Ionis).
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