Akcea Therapeutics (AKCA) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Akcea Therapeutics (NASDAQ:AKCA) from a buy rating to a hold rating in a research report report published on Friday, January 5th.

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. “

Other research analysts have also recently issued research reports about the company. BidaskClub cut Akcea Therapeutics from a buy rating to a hold rating in a research report on Saturday, December 30th. Stifel Nicolaus restated a buy rating and set a $20.00 price target (up from $19.00) on shares of Akcea Therapeutics in a report on Tuesday, November 7th. Finally, Cowen restated a buy rating on shares of Akcea Therapeutics in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $22.75.

Shares of Akcea Therapeutics (AKCA) opened at $17.00 on Friday. Akcea Therapeutics has a 52-week low of $8.10 and a 52-week high of $31.23.

Several large investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Akcea Therapeutics during the third quarter worth about $269,000. Granahan Investment Management Inc. MA bought a new stake in shares of Akcea Therapeutics during the third quarter worth about $8,528,000. California State Teachers Retirement System bought a new stake in shares of Akcea Therapeutics during the third quarter worth about $672,000. OxFORD Asset Management LLP bought a new stake in shares of Akcea Therapeutics during the third quarter worth about $6,872,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of Akcea Therapeutics during the third quarter worth about $1,654,000. Institutional investors own 26.04% of the company’s stock.

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About Akcea Therapeutics

Akcea Therapeutics, Inc is a biopharmaceutical company. The Company is focused on developing and commercializing drugs to treat patients with serious cardiometabolic diseases caused by lipid disorders. The Company’s drugs, volanesorsen, AKCEA-APO(a)-LRx, AKCEA-ANGPTL3-LRx and AKCEA-APOCIII-LRx, are all based on antisense technology developed by Ionis Pharmaceuticals, Inc (Ionis).

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