Akcea Therapeutics (NASDAQ:AKCA) Lowered to Strong Sell at Zacks Investment Research

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Zacks Investment Research lowered shares of Akcea Therapeutics (NASDAQ:AKCA) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

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. “

Separately, ValuEngine raised Xylem from a hold rating to a buy rating in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Akcea Therapeutics presently has a consensus rating of Hold and a consensus price target of $39.40.

Shares of NASDAQ AKCA opened at $24.56 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.61 and a quick ratio of 6.61. Akcea Therapeutics has a 12 month low of $19.67 and a 12 month high of $40.75. The business’s 50 day simple moving average is $22.57. The company has a market cap of $2.26 billion, a P/E ratio of -8.96 and a beta of 1.57.

Akcea Therapeutics (NASDAQ:AKCA) last issued its earnings results on Wednesday, May 8th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.90). Akcea Therapeutics had a negative return on equity of 54.63% and a negative net margin of 79.88%. The business had revenue of $163.82 million for the quarter, compared to the consensus estimate of $171.40 million. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. The business’s revenue was up 857.5% compared to the same quarter last year. On average, equities analysts predict that Akcea Therapeutics will post -0.63 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its holdings in Akcea Therapeutics by 2.4% during the 1st quarter. Rhumbline Advisers now owns 17,159 shares of the company’s stock worth $486,000 after purchasing an additional 409 shares during the last quarter. First Trust Advisors LP lifted its holdings in Akcea Therapeutics by 0.6% during the 1st quarter. First Trust Advisors LP now owns 74,954 shares of the company’s stock worth $2,123,000 after purchasing an additional 460 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Akcea Therapeutics by 9.8% during the 4th quarter. Squarepoint Ops LLC now owns 13,502 shares of the company’s stock worth $407,000 after purchasing an additional 1,202 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Akcea Therapeutics by 47.6% during the 1st quarter. SG Americas Securities LLC now owns 5,677 shares of the company’s stock worth $161,000 after purchasing an additional 1,831 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in Akcea Therapeutics during the 1st quarter worth approximately $74,000. 25.30% of the stock is owned by institutional investors and hedge funds.

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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