Wells Fargo restated their market perform rating on shares of Akcea Therapeutics (NASDAQ:AKCA) in a report released on Monday. The firm currently has a $20.00 price objective on the stock.
A number of other equities analysts also recently issued reports on AKCA. Stifel Nicolaus increased their price objective on Akcea Therapeutics from $20.00 to $30.00 and gave the stock a buy rating in a report on Friday, March 16th. BidaskClub upgraded Akcea Therapeutics from a hold rating to a buy rating in a report on Tuesday, March 6th. Cowen downgraded Akcea Therapeutics from an outperform rating to a market perform rating in a report on Tuesday, February 27th. Finally, Zacks Investment Research downgraded Akcea Therapeutics from a hold rating to a sell rating in a report on Thursday, March 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $24.75.
Akcea Therapeutics stock opened at $32.30 on Monday. Akcea Therapeutics has a twelve month low of $8.10 and a twelve month high of $33.99.
Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Akcea Therapeutics by 117.9% during the fourth quarter. BlackRock Inc. now owns 1,826,152 shares of the company’s stock valued at $31,702,000 after acquiring an additional 988,200 shares in the last quarter. Granahan Investment Management Inc. MA bought a new position in shares of Akcea Therapeutics during the third quarter valued at $8,528,000. OxFORD Asset Management LLP bought a new position in shares of Akcea Therapeutics during the third quarter valued at $6,872,000. Geode Capital Management LLC increased its holdings in shares of Akcea Therapeutics by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 204,540 shares of the company’s stock valued at $3,550,000 after acquiring an additional 3,147 shares in the last quarter. Finally, Altrinsic Global Advisors LLC increased its holdings in shares of Akcea Therapeutics by 20.0% during the fourth quarter. Altrinsic Global Advisors LLC now owns 150,000 shares of the company’s stock valued at $2,604,000 after acquiring an additional 25,000 shares in the last quarter. Hedge funds and other 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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