Wells Fargo Reiterates “Market Perform” Rating for Akcea Therapeutics (AKCA)

Akcea Therapeutics (NASDAQ:AKCA)‘s stock had its “market perform” rating restated by investment analysts at Wells Fargo in a report released on Monday. They presently have a $20.00 price target on the stock. Wells Fargo’s price target would indicate a potential downside of 37.58% from the stock’s current price.

Several other equities analysts also recently commented on the stock. BMO Capital Markets boosted their price target on shares of Akcea Therapeutics from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. BidaskClub upgraded shares of Akcea Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Zacks Investment Research upgraded shares of Akcea Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Tuesday, January 2nd. Cowen downgraded shares of Akcea Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus downgraded shares of Akcea Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a research note on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $24.75.

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Akcea Therapeutics stock opened at $32.04 on Monday. Akcea Therapeutics has a 12 month low of $8.10 and a 12 month high of $32.95.

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of 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 purchasing an additional 3,147 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Akcea Therapeutics during the third quarter worth $111,000. Ardsley Advisory Partners grew its stake in shares of Akcea Therapeutics by 50.0% during the fourth quarter. Ardsley Advisory Partners now owns 15,000 shares of the company’s stock worth $260,000 after purchasing an additional 5,000 shares in the last quarter. Deutsche Bank AG grew its stake in shares of 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 purchasing an additional 5,134 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Akcea Therapeutics during the third quarter worth $180,000. Hedge funds and other institutional investors own 29.14% of the company’s stock.

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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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