Akcea Therapeutics (AKCA) Price Target Raised to $40.00

Akcea Therapeutics (NASDAQ:AKCA) had its target price boosted by BMO Capital Markets from $38.00 to $40.00 in a research report released on Tuesday, August 7th. BMO Capital Markets currently has an outperform rating on the stock.

Several other research analysts have also issued reports on the stock. Wells Fargo & Co raised their target price on shares of Akcea Therapeutics from $33.00 to $46.00 and gave the company an outperform rating in a research note on Tuesday, August 7th. Stifel Nicolaus reissued a hold rating and set a $33.00 price objective on shares of Akcea Therapeutics in a research note on Tuesday, August 7th. ValuEngine raised shares of Akcea Therapeutics from a hold rating to a buy rating in a research note on Monday, July 16th. Zacks Investment Research raised shares of Akcea Therapeutics from a sell rating to a hold rating in a research note on Monday, July 9th. Finally, BidaskClub lowered shares of Akcea Therapeutics from a buy rating to a hold rating in a research note on Thursday, May 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $35.00.

AKCA traded up $0.82 during midday trading on Tuesday, hitting $26.41. The company had a trading volume of 349,500 shares, compared to its average volume of 334,094. The stock has a market capitalization of $2.12 billion and a PE ratio of -11.79. Akcea Therapeutics has a twelve month low of $15.20 and a twelve month high of $40.75.

Akcea Therapeutics (NASDAQ:AKCA) last issued its earnings results 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 company had revenue of $18.30 million for the quarter, compared to analyst estimates of $14.24 million. Akcea Therapeutics had a negative net margin of 192.97% and a negative return on equity of 58.32%. The company’s revenue for the quarter was up 221.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.41) EPS. sell-side analysts expect that Akcea Therapeutics will post -1.91 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC increased its holdings in Akcea Therapeutics by 428.7% during the second quarter. Millennium Management LLC now owns 63,998 shares of the company’s stock worth $1,517,000 after buying an additional 51,894 shares during the last quarter. Paloma Partners Management Co acquired a new position in Akcea Therapeutics during the second quarter worth $216,000. Bank of America Corp DE increased 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 during the last quarter. FMR LLC increased its holdings in Akcea Therapeutics by 24.5% during the second quarter. FMR LLC now owns 12,455,383 shares of the company’s stock worth $295,317,000 after buying an additional 2,447,367 shares during the last quarter. Finally, BB Biotech AG increased its holdings in Akcea Therapeutics by 4.0% during the second quarter. BB Biotech AG now owns 2,484,071 shares of the company’s stock worth $58,897,000 after buying an additional 94,500 shares during the last quarter. Institutional investors own 26.58% of the company’s stock.

About Akcea Therapeutics

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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