Zacks Investment Research Upgrades Akcea Therapeutics (NASDAQ:AKCA) to “Hold”

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Zacks Investment Research upgraded shares of Akcea Therapeutics (NASDAQ:AKCA) from a strong sell rating to a hold rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Akcea Therapeutics, Inc. is a biopharmaceutical company. It focuses on developing and commercializing drugs to treat patients with cardiometabolic diseases caused by lipid disorders in the United States and internationally. The Company’s drug pipeline consists of volanesorsen, AKCEA-APO(a)-LRx, AKCEA-ANGPTL3-LRx and AKCEA-APOCIII-LRx which are in clinical stage. Akcea Therapeutics, Inc. is headquartered in Cambridge, Massachusetts. “

Separately, ValuEngine raised shares of Xylem from a hold rating to a buy rating in a research report on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $39.40.

AKCA stock opened at $22.24 on Monday. The firm has a market capitalization of $2.07 billion, a PE ratio of -8.12 and a beta of 1.57. The stock’s 50 day moving average is $22.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.61 and a current ratio of 6.61. Akcea Therapeutics has a 52 week low of $19.67 and a 52 week high of $40.75.

Akcea Therapeutics (NASDAQ:AKCA) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.90). The business had revenue of $163.82 million for the quarter, compared to the consensus estimate of $171.40 million. Akcea Therapeutics had a negative net margin of 79.88% and a negative return on equity of 54.63%. Akcea Therapeutics’s revenue was up 857.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.44) EPS. On average, analysts predict that Akcea Therapeutics will post -0.63 EPS for the current fiscal year.

In related news, President Sarah Boyce sold 1,819 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $23.52, for a total transaction of $42,782.88. Following the transaction, the president now owns 19,888 shares of the company’s stock, valued at $467,765.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.64% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quantinno Capital Management LP acquired a new stake in shares of Akcea Therapeutics in the first quarter worth $758,000. Rhumbline Advisers boosted its stake in Akcea Therapeutics by 45.1% during the fourth quarter. Rhumbline Advisers now owns 16,750 shares of the company’s stock worth $505,000 after buying an additional 5,208 shares in the last quarter. Tibra Equities Europe Ltd acquired a new stake in Akcea Therapeutics during the first quarter worth $1,156,000. First Trust Advisors LP acquired a new stake in Akcea Therapeutics during the fourth quarter worth $2,245,000. Finally, Menta Capital LLC acquired a new stake in Akcea Therapeutics during the first quarter worth $306,000. 25.30% 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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