Akcea Therapeutics (NASDAQ:AKCA) announced its earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.90), Morningstar.com reports. Akcea Therapeutics had a negative net margin of 79.88% and a negative return on equity of 54.63%. The company had revenue of $163.82 million during the quarter, compared to analysts’ expectations of $171.40 million. During the same quarter last year, the business posted ($0.44) earnings per share. The company’s revenue for the quarter was up 857.5% compared to the same quarter last year.
Shares of NASDAQ:AKCA opened at $21.04 on Friday. Akcea Therapeutics has a 52 week low of $19.67 and a 52 week high of $40.75. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.95 billion, a PE ratio of -7.68 and a beta of 1.39.
In other news, COO Jeff Marc Goldberg sold 50,000 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $31.71, for a total value of $1,585,500.00. Following the completion of the sale, the chief operating officer now owns 32,880 shares of the company’s stock, valued at $1,042,624.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Paula Soteropoulos sold 31,787 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at approximately $963,300. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,173 shares of company stock valued at $4,148,407. 3.64% of the stock is owned by company insiders.
Several brokerages recently issued reports on AKCA. Zacks Investment Research raised Akcea Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 22nd. ValuEngine cut Akcea Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $39.40.
WARNING: This report was first reported by Rockland Register and is owned by of Rockland Register. If you are accessing this report on another website, it was stolen and republished in violation of United States & international trademark and copyright legislation. The legal version of this report can be viewed at https://rocklandregister.com/2019/06/01/akcea-therapeutics-akca-posts-quarterly-earnings-results-misses-estimates-by-0-90-eps.html.
About Akcea Therapeutics
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.
Featured Article: What does a market perform rating mean?
Receive News & Ratings for Akcea Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akcea Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.