Akcea Therapeutics (AKCA) Given Average Rating of “Buy” by Brokerages

Shares of Akcea Therapeutics (NASDAQ:AKCA) have been assigned an average rating of “Buy” from the six research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $26.67.

Several analysts have weighed in on AKCA shares. BidaskClub cut shares of Akcea Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, December 30th. Zacks Investment Research raised shares of Akcea Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Tuesday, January 2nd. Wells Fargo cut shares of Akcea Therapeutics from an “outperform” rating to a “market perform” rating and set a $27.00 price objective on the stock. in a research note on Tuesday, February 27th. Cowen cut shares of Akcea Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus cut shares of Akcea Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research note on Tuesday, February 27th.

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A number of institutional investors have recently modified their holdings of AKCA. Geode Capital Management LLC lifted its position in shares of Akcea Therapeutics by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 204,540 shares of the company’s stock worth $3,550,000 after purchasing an additional 3,147 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Akcea Therapeutics during the third quarter worth approximately $111,000. Ardsley Advisory Partners lifted its position in shares of Akcea Therapeutics by 50.0% during the fourth quarter. Ardsley Advisory Partners now owns 15,000 shares of the company’s stock worth $260,000 after purchasing an additional 5,000 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Akcea Therapeutics by 17.4% during the fourth quarter. Deutsche Bank AG now owns 34,624 shares of the company’s stock worth $600,000 after purchasing an additional 5,134 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Akcea Therapeutics during the fourth quarter worth approximately $121,000. 29.14% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ AKCA opened at $21.62 on Monday. The stock has a market capitalization of $1,442.49 and a P/E ratio of -9.65. Akcea Therapeutics has a twelve month low of $8.10 and a twelve month high of $33.99.

Akcea Therapeutics (NASDAQ:AKCA) last posted its earnings results on Monday, February 26th. The company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.03). The company had revenue of $18.04 million for the quarter, compared to analyst estimates of $15.48 million. equities analysts expect that Akcea Therapeutics will post -1.32 EPS for the current year.

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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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