Wells Fargo & Company began coverage on shares of AKCEA THERAPEUT (NASDAQ:AKCA) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $27.00 target price on the stock.
Several other equities research analysts have also recently issued reports on the company. Cowen and Company began coverage on AKCEA THERAPEUT in a report on Tuesday. They issued an outperform rating on the stock. Stifel Nicolaus began coverage on AKCEA THERAPEUT in a report on Tuesday. They issued a buy rating and a $19.00 price objective on the stock.
AKCEA THERAPEUT (AKCA) opened at 14.21 on Tuesday. AKCEA THERAPEUT has a 1-year low of $1.05 and a 1-year high of $16.30. The company’s market cap is $912.25 million. The stock has a 50 day moving average price of $10.80 and a 200-day moving average price of $10.80.
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In related news, major shareholder Ionis Pharmaceuticals Inc bought 3,125,000 shares of the stock in a transaction dated Wednesday, July 19th. The shares were acquired at an average cost of $8.00 per share, for a total transaction of $25,000,000.00. Following the acquisition, the insider now directly owns 28,884,540 shares in the company, valued at approximately $231,076,320. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
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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