Akcea Therapeutics, Inc. (AKCA) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Akcea Therapeutics, Inc. (NASDAQ:AKCA) from a sell rating to a hold rating in a research note published on Thursday.

According to Zacks, “Akcea Therapeutics, Inc. is a biopharmaceutical company. It focuses on developing and commercializing drugs to treat patients with cardiometabolic diseases caused by lipid disorders in the United States and internationally. The Company’s drug pipeline consists of volanesorsen, AKCEA-APO(a)-LRx, AKCEA-ANGPTL3-LRx and AKCEA-APOCIII-LRx which are in clinical stage. Akcea Therapeutics, Inc. is headquartered in Cambridge, Massachusetts. “

A number of other brokerages have also issued reports on AKCA. Stifel Nicolaus reissued a buy rating and issued a $20.00 target price (up previously from $19.00) on shares of Akcea Therapeutics in a research report on Tuesday, November 7th. BMO Capital Markets started coverage on Akcea Therapeutics in a research report on Tuesday, August 8th. They issued an outperform rating and a $25.00 target price on the stock. Cowen and Company reissued a buy rating on shares of Akcea Therapeutics in a research report on Tuesday, October 31st. Finally, Wells Fargo & Company started coverage on Akcea Therapeutics in a research report on Tuesday, August 8th. They issued an outperform rating and a $27.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Akcea Therapeutics has a consensus rating of Buy and a consensus target price of $24.00.

Akcea Therapeutics (NASDAQ:AKCA) traded up $1.04 during trading hours on Thursday, hitting $19.22. The stock had a trading volume of 236,700 shares, compared to its average volume of 288,709. Akcea Therapeutics has a fifty-two week low of $8.10 and a fifty-two week high of $31.23.

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A number of institutional investors have recently made changes to their positions in AKCA. Candriam Luxembourg S.C.A. acquired a new stake in Akcea Therapeutics in the 3rd quarter valued at approximately $5,314,000. Bank of New York Mellon Corp acquired a new stake in Akcea Therapeutics in the 3rd quarter valued at approximately $1,413,000. New York State Common Retirement Fund acquired a new stake in Akcea Therapeutics in the 3rd quarter valued at approximately $810,000. Rhumbline Advisers acquired a new stake in Akcea Therapeutics in the 3rd quarter valued at approximately $353,000. Finally, American International Group Inc. acquired a new stake in Akcea Therapeutics in the 3rd quarter valued at approximately $275,000. 0.02% of the stock is currently owned by institutional investors and hedge funds.

About Akcea Therapeutics

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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