Zacks: Akcea Therapeutics, Inc. (AKCA) Given $23.67 Consensus Target Price by Analysts
Shares of Akcea Therapeutics, Inc. (NASDAQ:AKCA) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the four brokers that cover the stock, Zacks Investment Research reports. Four analysts have rated the stock with a strong buy rating.
Brokerages have set a 1-year consensus price objective of $23.67 for the company, according to Zacks. Zacks has also given Akcea Therapeutics an industry rank of 106 out of 265 based on the ratings given to its competitors.
A number of research firms recently commented on AKCA. Stifel Nicolaus began coverage on shares of Akcea Therapeutics in a report on Tuesday, August 8th. They set a “buy” rating and a $19.00 price objective on the stock. Cowen and Company started coverage on shares of Akcea Therapeutics in a report on Tuesday, August 8th. They issued an “outperform” rating for the company. Wells Fargo & Company assumed coverage on shares of Akcea Therapeutics in a report on Tuesday, August 8th. They issued an “outperform” rating and a $27.00 target price for the company. Finally, BMO Capital Markets assumed coverage on shares of Akcea Therapeutics in a research report on Tuesday, August 8th. They set an “outperform” rating and a $25.00 price target for the company.
Shares of Akcea Therapeutics (NASDAQ:AKCA) traded up 0.61% during mid-day trading on Monday, hitting $27.84. The company had a trading volume of 303,369 shares. Akcea Therapeutics has a 12 month low of $8.10 and a 12 month high of $31.23. The firm has a 50-day moving average price of $18.43 and a 200 day moving average price of $15.17. The firm’s market capitalization is $1.79 billion.
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In other news, major shareholder Ionis Pharmaceuticals Inc bought 3,125,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were bought at an average cost of $8.00 per share, for a total transaction of $25,000,000.00. Following the completion of the transaction, the insider now owns 28,884,540 shares in the company, valued at $231,076,320. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
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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