Zacks Investment Research cut shares of Akcea Therapeutics (NASDAQ:AKCA) from a hold rating to a strong sell rating in a research note released on Monday, 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 cut Akcea Therapeutics from a buy rating to a hold rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $39.40.

NASDAQ:AKCA opened at $21.73 on Monday. The company has a market cap of $1.99 billion, a P/E ratio of -7.93 and a beta of 1.39. Akcea Therapeutics has a 52-week low of $20.80 and a 52-week high of $40.75.

Akcea Therapeutics (NASDAQ:AKCA) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.90). The firm had revenue of $163.82 million for the quarter, compared to analysts’ expectations of $171.40 million. Akcea Therapeutics had a negative return on equity of 59.75% and a negative net margin of 79.88%. The company’s quarterly revenue was up 857.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.44) EPS. As a group, analysts expect that Akcea Therapeutics will post -0.21 earnings per share for the current fiscal year.

In other Akcea Therapeutics news, COO Jeff Marc Goldberg sold 50,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $31.71, for a total transaction of $1,585,500.00. 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 can be accessed through this hyperlink. Also, CEO Paula Soteropoulos sold 31,787 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was 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. 3.64% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of AKCA. Quantamental Technologies LLC acquired a new stake in Akcea Therapeutics during the 1st quarter worth approximately $74,000. Legal & General Group Plc lifted its position in Akcea Therapeutics by 17.8% during the 3rd quarter. Legal & General Group Plc now owns 2,237 shares of the company’s stock worth $79,000 after acquiring an additional 338 shares during the period. BNP Paribas Arbitrage SA lifted its position in Akcea Therapeutics by 842.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,165 shares of the company’s stock worth $90,000 after acquiring an additional 2,829 shares during the period. Marshall Wace North America L.P. acquired a new stake in Akcea Therapeutics during the 1st quarter worth approximately $106,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Akcea Therapeutics in the 4th quarter valued at approximately $116,000. 25.26% of the stock is owned by 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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