Akcea Therapeutics (AKCA) Downgraded by ValuEngine

Akcea Therapeutics (NASDAQ:AKCA) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday, ValuEngine reports.

Separately, Zacks Investment Research upgraded Akcea Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $39.40.

Akcea Therapeutics stock opened at $26.97 on Tuesday. The company has a market cap of $2.41 billion, a P/E ratio of -9.84 and a beta of 1.62. Akcea Therapeutics has a one year low of $17.74 and a one year high of $40.75.

Akcea Therapeutics (NASDAQ:AKCA) last posted its earnings results on Tuesday, February 26th. The company reported ($0.79) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.70) by ($0.09). The company had revenue of $10.20 million for the quarter, compared to the consensus estimate of $17.76 million. Akcea Therapeutics had a negative return on equity of 90.80% and a negative net margin of 348.13%. Akcea Therapeutics’s quarterly revenue was down 53.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.35) EPS. On average, analysts forecast that Akcea Therapeutics will post 0.06 earnings per share for the current fiscal year.

In related news, COO Jeff Marc Goldberg sold 30,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $31.71, for a total transaction of $951,300.00. Following the completion of the sale, the chief operating officer now directly owns 32,880 shares of the company’s stock, valued at approximately $1,042,624.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paula Soteropoulos sold 31,787 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $32.11, for a total value of $1,020,680.57. Following the sale, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $963,300. The disclosure for this sale can be found here. Insiders have sold a total of 130,173 shares of company stock valued at $4,148,407 over the last ninety days. Insiders own 3.64% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its holdings in Akcea Therapeutics by 17.8% during the 3rd quarter. Legal & General Group Plc now owns 2,237 shares of the company’s stock valued at $79,000 after purchasing an additional 338 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Akcea Therapeutics during the 4th quarter valued at $116,000. Metropolitan Life Insurance Co. NY increased its holdings in Akcea Therapeutics by 350.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,008 shares of the company’s stock valued at $151,000 after purchasing an additional 3,896 shares in the last quarter. Barclays PLC increased its holdings in Akcea Therapeutics by 106.7% during the 4th quarter. Barclays PLC now owns 6,400 shares of the company’s stock valued at $193,000 after purchasing an additional 102,219 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in Akcea Therapeutics by 338.0% during the 4th quarter. Citigroup Inc. now owns 11,300 shares of the company’s stock valued at $341,000 after purchasing an additional 8,720 shares in the last quarter. 26.17% of the stock is owned by hedge funds and other institutional investors.

Akcea Therapeutics Company Profile

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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