Traders Buy High Volume of Akcea Therapeutics Call Options (AKCA)

Akcea Therapeutics Inc (NASDAQ:AKCA) saw some unusual options trading on Wednesday. Stock investors purchased 2,081 call options on the stock. This represents an increase of 900% compared to the typical volume of 208 call options.

Several brokerages have issued reports on AKCA. Zacks Investment Research upgraded Akcea Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. ValuEngine upgraded Akcea Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, September 26th. Stifel Nicolaus increased their target price on Akcea Therapeutics from $25.00 to $31.00 and gave the stock a “hold” rating in a research note on Tuesday, September 25th. Needham & Company LLC started coverage on Akcea Therapeutics in a research note on Tuesday, September 18th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Cowen reissued a “hold” rating on shares of Akcea Therapeutics in a research note on Sunday, September 2nd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.20.

A number of hedge funds have recently bought and sold shares of AKCA. Cubist Systematic Strategies LLC purchased a new position in shares of Akcea Therapeutics in the 1st quarter valued at about $201,000. Paloma Partners Management Co purchased a new position in shares of Akcea Therapeutics in the 2nd quarter valued at about $216,000. Barclays PLC increased its holdings in shares of Akcea Therapeutics by 375.7% in the 1st quarter. Barclays PLC now owns 11,312 shares of the company’s stock valued at $290,000 after acquiring an additional 8,934 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Akcea Therapeutics by 79.8% in the 2nd quarter. Bank of America Corp DE now owns 12,368 shares of the company’s stock valued at $293,000 after acquiring an additional 5,490 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Akcea Therapeutics in the 1st quarter valued at about $310,000. 26.62% of the stock is currently owned by institutional investors.

AKCA stock traded down $0.05 during mid-day trading on Friday, reaching $25.49. The company had a trading volume of 306,272 shares, compared to its average volume of 422,669. The firm has a market capitalization of $2.32 billion, a P/E ratio of -11.38 and a beta of 2.57. Akcea Therapeutics has a fifty-two week low of $15.23 and a fifty-two week high of $40.75.

Akcea Therapeutics (NASDAQ:AKCA) last posted its quarterly earnings results on Monday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. The company had revenue of $19.24 million for the quarter, compared to analyst estimates of $20.52 million. Akcea Therapeutics had a negative return on equity of 77.03% and a negative net margin of 245.68%. Akcea Therapeutics’s revenue for the quarter was up 94.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.33) EPS. On average, equities analysts anticipate that Akcea Therapeutics will post -2.74 earnings per share for the current fiscal year.

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Akcea Therapeutics Company Profile

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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