Akcea Therapeutics (NASDAQ:AKCA) had its target price upped by equities researchers at Stifel Nicolaus from $20.00 to $30.00 in a report released on Friday. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential downside of 5.99% from the company’s previous close.
A number of other equities analysts also recently issued reports on AKCA. BidaskClub downgraded Akcea Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, December 30th. Zacks Investment Research upgraded Akcea Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, January 2nd. Wells Fargo & Co downgraded Akcea Therapeutics from an “outperform” rating to a “market perform” rating and set a $27.00 price target on the stock. in a research report on Tuesday, February 27th. Cowen downgraded Akcea Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 27th. Finally, BMO Capital Markets increased their price target on Akcea Therapeutics from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $26.50.
Shares of Akcea Therapeutics (NASDAQ:AKCA) traded up $3.77 during mid-day trading on Friday, reaching $31.91. The company’s stock had a trading volume of 343,662 shares, compared to its average volume of 357,486. Akcea Therapeutics has a 52 week low of $8.10 and a 52 week high of $31.91.
A number of hedge funds have recently modified their holdings of AKCA. Nationwide Fund Advisors purchased a new position in Akcea Therapeutics during the third quarter worth approximately $209,000. New York State Common Retirement Fund purchased a new position in shares of Akcea Therapeutics in the third quarter valued at approximately $810,000. Rhumbline Advisers purchased a new position in shares of Akcea Therapeutics in the third quarter valued at approximately $353,000. Bank of New York Mellon Corp purchased a new position in shares of Akcea Therapeutics in the third quarter valued at approximately $1,413,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Akcea Therapeutics in the third quarter valued at approximately $180,000. Institutional investors own 29.14% of the company’s stock.
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Akcea Therapeutics Company Profile
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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