Zacks: Akcea Therapeut (AKCA) Given Consensus Rating of “Strong Buy” by Brokerages
Akcea Therapeut (NASDAQ:AKCA) has earned a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. Four analysts have rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus target price of $23.67 for the company, according to Zacks. Zacks has also given Akcea Therapeut an industry rank of 101 out of 265 based on the ratings given to related companies.
AKCA has been the topic of several research reports. BMO Capital Markets initiated coverage on shares of Akcea Therapeut in a research report on Tuesday, August 8th. They set an “outperform” rating and a $25.00 price objective on the stock. Stifel Nicolaus initiated coverage on shares of Akcea Therapeut in a research report on Tuesday, August 8th. They set a “buy” rating and a $19.00 price objective on the stock. Wells Fargo & Co initiated coverage on shares of Akcea Therapeut in a research report on Tuesday, August 8th. They set an “outperform” rating and a $27.00 price objective on the stock. Finally, Cowen and Company initiated coverage on shares of Akcea Therapeut in a research report on Tuesday, August 8th. They set an “outperform” rating on the stock.
Shares of Akcea Therapeut (AKCA) traded up 1.12% during trading on Friday, hitting $20.75. The stock had a trading volume of 216,094 shares. The stock’s 50-day moving average is $12.79 and its 200-day moving average is $12.15. Akcea Therapeut has a 12-month low of $8.10 and a 12-month high of $21.10. The stock’s market capitalization is $1.33 billion.
In other Akcea Therapeut news, major shareholder Ionis Pharmaceuticals Inc bought 3,125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were bought at an average price of $8.00 per share, for a total transaction of $25,000,000.00. Following the transaction, the insider now directly owns 28,884,540 shares in the company, valued at $231,076,320. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
About Akcea Therapeut
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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