Akcea Therapeut (NASDAQ:AKCA) Coverage Initiated by Analysts at Stifel Nicolaus

Analysts at Stifel Nicolaus started coverage on shares of Akcea Therapeut (NASDAQ:AKCA) in a research note issued on Tuesday, August 8th, Marketbeat reports. The firm set a “buy” rating and a $19.00 price target on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 34.75% from the company’s previous close.

Shares of Akcea Therapeut (NASDAQ:AKCA) traded down 1.47% during mid-day trading on Tuesday, reaching $14.10. 221,417 shares of the company’s stock were exchanged. Akcea Therapeut has a one year low of $1.05 and a one year high of $16.30. The company’s market capitalization is $905.19 million. The company’s 50-day moving average price is $11.33 and its 200-day moving average price is $11.33.

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In related news, major shareholder Ionis Pharmaceuticals Inc acquired 3,125,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $25,000,000.00. Following the transaction, the insider now owns 28,884,540 shares in the company, valued at approximately $231,076,320. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Akcea Therapeut 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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