Akcea Therapeutics (NASDAQ:AKCA)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued on Wednesday, Stock Target Advisor reports. They presently have a $41.00 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 129.95% from the stock’s previous close.

A number of other equities analysts have also issued reports on AKCA. Zacks Investment Research lowered Akcea Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. ValuEngine raised Akcea Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Wells Fargo & Co raised Akcea Therapeutics from a “market perform” rating to an “outperform” rating in a report on Monday, October 7th. BMO Capital Markets lowered their price target on Akcea Therapeutics from $43.00 to $39.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Finally, Cowen reissued a “hold” rating on shares of Akcea Therapeutics in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Akcea Therapeutics currently has a consensus rating of “Buy” and an average price target of $32.25.

Shares of AKCA traded down $1.32 during midday trading on Wednesday, reaching $17.83. 290,628 shares of the stock were exchanged, compared to its average volume of 275,697. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.46 and a quick ratio of 6.26. Akcea Therapeutics has a twelve month low of $13.90 and a twelve month high of $35.82. The business’s 50-day moving average price is $18.17 and its 200 day moving average price is $19.64. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -14.98 and a beta of 1.44.

Akcea Therapeutics (NASDAQ:AKCA) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.21. Akcea Therapeutics had a negative return on equity of 33.00% and a negative net margin of 50.71%. The firm had revenue of $20.62 million for the quarter, compared to analyst estimates of $22.54 million. During the same quarter last year, the company posted ($0.73) earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts expect that Akcea Therapeutics will post 1.62 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of Akcea Therapeutics by 94.3% during the 3rd quarter. Barclays PLC now owns 15,591 shares of the company’s stock valued at $240,000 after buying an additional 7,568 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Akcea Therapeutics in the third quarter valued at about $949,000. Jefferies Group LLC bought a new position in shares of Akcea Therapeutics in the second quarter valued at about $254,000. Morgan Stanley raised its position in shares of Akcea Therapeutics by 23.1% in the second quarter. Morgan Stanley now owns 227,619 shares of the company’s stock valued at $5,337,000 after purchasing an additional 42,720 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Akcea Therapeutics by 305.5% in the second quarter. Bank of America Corp DE now owns 28,718 shares of the company’s stock valued at $673,000 after purchasing an additional 21,636 shares during the period. 23.39% of the stock is currently owned by hedge funds and other institutional investors.

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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