Akcea Therapeutics (AKCA) Stake Increased by BlackRock Inc.

BlackRock Inc. increased its holdings in Akcea Therapeutics (NASDAQ:AKCA) by 117.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,826,152 shares of the company’s stock after acquiring an additional 988,200 shares during the quarter. BlackRock Inc. owned about 2.74% of Akcea Therapeutics worth $31,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of AKCA. Legal & General Group Plc bought a new position in shares of Akcea Therapeutics in the 3rd quarter worth about $111,000. SG Americas Securities LLC bought a new position in shares of Akcea Therapeutics in the 4th quarter worth about $121,000. Nationwide Fund Advisors bought a new position in shares of Akcea Therapeutics in the 3rd quarter worth about $209,000. Wells Fargo & Company MN bought a new position in shares of Akcea Therapeutics in the 3rd quarter worth about $222,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Akcea Therapeutics in the 3rd quarter worth about $269,000. Institutional investors own 29.10% of the company’s stock.

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Shares of NASDAQ AKCA opened at $24.12 on Thursday. Akcea Therapeutics has a 52-week low of $8.10 and a 52-week high of $33.99.

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

Several brokerages recently commented on AKCA. BidaskClub downgraded shares of Akcea Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 6th. Stifel Nicolaus downgraded 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 report on Tuesday, February 27th. Zacks Investment Research downgraded shares of Akcea Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. BMO Capital Markets increased their price objective on shares of Akcea Therapeutics from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Finally, Wells Fargo downgraded 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 report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $24.75.

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Akcea Therapeutics Company Profile

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.

Institutional Ownership by Quarter for Akcea Therapeutics (NASDAQ:AKCA)

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