Akcea Therapeutics (AKCA) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Akcea Therapeutics (NASDAQ:AKCA) from a buy rating to a hold rating in a research report sent to investors on Friday, January 5th.

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. “

Other research analysts have also issued research reports about the company. BidaskClub lowered Akcea Therapeutics from a buy rating to a hold rating in a research note on Saturday, December 30th. Stifel Nicolaus reissued a buy rating and set a $20.00 price target (up previously from $19.00) on shares of Akcea Therapeutics in a research note on Tuesday, November 7th. Finally, Cowen reissued a buy rating on shares of Akcea Therapeutics in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $22.75.

Akcea Therapeutics (NASDAQ AKCA) traded down $0.21 during mid-day trading on Friday, reaching $17.00. The company had a trading volume of 147,700 shares, compared to its average volume of 316,811. Akcea Therapeutics has a 12-month low of $8.10 and a 12-month high of $31.23. The stock has a market cap of $1,130.00 and a price-to-earnings ratio of -4.31.

Akcea Therapeutics (NASDAQ:AKCA) last posted its earnings results on Monday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. equities research analysts anticipate that Akcea Therapeutics will post -1.98 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in AKCA. Strs Ohio acquired a new stake in shares of Akcea Therapeutics during the 3rd quarter worth $118,000. Nationwide Fund Advisors acquired a new stake in shares of Akcea Therapeutics during the 3rd quarter worth $209,000. Candriam Luxembourg S.C.A. acquired a new stake in shares of Akcea Therapeutics during the 3rd quarter worth $5,314,000. New York State Common Retirement Fund acquired a new stake in shares of Akcea Therapeutics during the 3rd quarter worth $810,000. Finally, Rhumbline Advisers acquired a new stake in shares of Akcea Therapeutics during the 3rd quarter worth $353,000. Institutional investors and hedge funds own 26.04% of the company’s stock.

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Akcea Therapeutics Company Profile

Akcea Therapeutics, Inc is a biopharmaceutical company. The Company is focused on developing and commercializing drugs to treat patients with serious cardiometabolic diseases caused by lipid disorders. The Company’s drugs, volanesorsen, AKCEA-APO(a)-LRx, AKCEA-ANGPTL3-LRx and AKCEA-APOCIII-LRx, are all based on antisense technology developed by Ionis Pharmaceuticals, Inc (Ionis).

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