Akcea Therapeutics (AKCA) PT Raised to $46.00 at Wells Fargo & Co
Akcea Therapeutics (NASDAQ:AKCA) had its price objective raised by Wells Fargo & Co from $33.00 to $46.00 in a research note published on Tuesday, The Fly reports. Wells Fargo & Co currently has an outperform rating on the stock.
Several other analysts have also issued reports on AKCA. Stifel Nicolaus reiterated a hold rating and set a $33.00 price objective on shares of Akcea Therapeutics in a report on Tuesday. BidaskClub lowered Akcea Therapeutics from a strong-buy rating to a buy rating in a report on Friday, May 4th. Zacks Investment Research upgraded Akcea Therapeutics from a sell rating to a hold rating in a report on Monday, July 9th. ValuEngine upgraded Akcea Therapeutics from a sell rating to a hold rating in a report on Wednesday, May 2nd. Finally, BMO Capital Markets cut their price objective on Akcea Therapeutics from $42.00 to $38.00 and set an outperform rating for the company in a report on Friday, May 4th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $37.00.
Shares of NASDAQ:AKCA traded down $1.67 during midday trading on Tuesday, hitting $34.93. 357,150 shares of the stock were exchanged, compared to its average volume of 280,870. Akcea Therapeutics has a 52-week low of $13.75 and a 52-week high of $40.75. The firm has a market cap of $3.05 billion and a price-to-earnings ratio of -15.59.
Large investors have recently made changes to their positions in the stock. Northern Trust Corp increased its position in Akcea Therapeutics by 1.6% during the first quarter. Northern Trust Corp now owns 170,924 shares of the company’s stock worth $4,378,000 after buying an additional 2,687 shares during the last quarter. Geode Capital Management LLC increased its position in Akcea Therapeutics by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 204,540 shares of the company’s stock worth $3,550,000 after buying an additional 3,147 shares during the last quarter. Quantbot Technologies LP acquired a new position in Akcea Therapeutics during the first quarter worth $104,000. Deutsche Bank AG increased its position in Akcea Therapeutics by 17.4% during the fourth quarter. Deutsche Bank AG now owns 34,624 shares of the company’s stock worth $600,000 after buying an additional 5,134 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Akcea Therapeutics during the first quarter worth $201,000. Institutional investors and hedge funds own 23.96% of the company’s stock.
Akcea Therapeutics Company Profile
Akcea Therapeutics, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing drugs to treat patients with cardiometabolic diseases caused by lipid disorders in the United States and internationally. It develops Volanesorsen, which has completed Phase 3 clinical study for the treatment of familial chylomicronemia syndrome; and that is in Phase 3 clinical study for the treatment of familial partial lipodystrophy.
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