Several other equities analysts also recently weighed in on AKCA. Zacks Investment Research raised shares of Akcea Therapeutics from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Friday, August 9th. BMO Capital Markets set a $43.00 price objective on shares of Akcea Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Akcea Therapeutics currently has an average rating of “Buy” and an average target price of $36.00.
Shares of NASDAQ AKCA traded up $0.59 during trading on Wednesday, hitting $22.17. The company had a trading volume of 156,536 shares, compared to its average volume of 214,099. Akcea Therapeutics has a 12 month low of $18.68 and a 12 month high of $37.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.32 and a current ratio of 6.48. The firm has a market capitalization of $1.86 billion, a P/E ratio of -8.09 and a beta of 1.58. The stock has a 50 day simple moving average of $21.28 and a 200 day simple moving average of $24.59.
In other news, President Sarah Boyce sold 1,819 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $23.52, for a total value of $42,782.88. Following the transaction, the president now directly owns 19,888 shares in the company, valued at $467,765.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Akcea Therapeutics by 1.1% during the second quarter. BlackRock Inc. now owns 1,907,412 shares of the company’s stock worth $44,729,000 after purchasing an additional 21,377 shares in the last quarter. Vanguard Group Inc. boosted its stake in Akcea Therapeutics by 24.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,601,976 shares of the company’s stock worth $37,565,000 after purchasing an additional 311,366 shares during the period. Morgan Stanley grew its holdings in Akcea Therapeutics by 23.1% during the 2nd quarter. Morgan Stanley now owns 227,619 shares of the company’s stock valued at $5,337,000 after buying an additional 42,720 shares in the last quarter. Northern Trust Corp grew its holdings in Akcea Therapeutics by 0.7% during the 2nd quarter. Northern Trust Corp now owns 198,175 shares of the company’s stock valued at $4,646,000 after buying an additional 1,390 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of Akcea Therapeutics during the second quarter valued at approximately $4,535,000. 25.39% 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.
Further Reading: Quiet Period Expirations
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