Akcea Therapeutics (AKCA) Downgraded by BidaskClub
BidaskClub cut shares of Akcea Therapeutics (NASDAQ:AKCA) from a buy rating to a hold rating in a report published on Saturday morning.
Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus reissued a buy rating and issued a $20.00 price target (up previously from $19.00) on shares of Akcea Therapeutics in a research note on Tuesday, November 7th. Cowen restated a buy rating on shares of Akcea Therapeutics in a report on Tuesday, October 31st. Finally, Zacks Investment Research upgraded shares of Akcea Therapeutics from a sell rating to a hold rating in a report on Thursday, November 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $24.00.
Akcea Therapeutics (NASDAQ:AKCA) opened at $17.36 on Friday. Akcea Therapeutics has a 12 month low of $8.10 and a 12 month high of $31.23. The company has a market cap of $1,230.00 and a P/E ratio of -4.41.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Granahan Investment Management Inc. MA bought a new stake in shares of Akcea Therapeutics in the 3rd quarter worth approximately $8,528,000. OxFORD Asset Management LLP bought a new stake in Akcea Therapeutics during the 3rd quarter valued at $6,872,000. Candriam Luxembourg S.C.A. bought a new stake in Akcea Therapeutics during the 3rd quarter valued at $5,314,000. Schwab Charles Investment Management Inc. bought a new stake in Akcea Therapeutics during the 3rd quarter valued at $1,654,000. Finally, Bank of New York Mellon Corp bought a new stake in Akcea Therapeutics during the 3rd quarter valued at $1,413,000. Hedge funds and other institutional investors own 26.04% 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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