Shares of Akcea Therapeutics Inc (NASDAQ:AKCA) have been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $40.50.
Several equities analysts have weighed in on AKCA shares. Needham & Company LLC started coverage on Akcea Therapeutics in a report on Tuesday, September 18th. They set a “buy” rating and a $45.00 price target for the company. Zacks Investment Research upgraded Akcea Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. ValuEngine cut Akcea Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Stifel Nicolaus raised their price target on Akcea Therapeutics from $25.00 to $31.00 and gave the company a “hold” rating in a report on Tuesday, September 25th. Finally, Cowen restated a “hold” rating on shares of Akcea Therapeutics in a report on Sunday, September 2nd.
NASDAQ AKCA opened at $29.74 on Tuesday. Akcea Therapeutics has a 1-year low of $15.23 and a 1-year high of $40.75.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC lifted its stake in shares of Akcea Therapeutics by 9.5% in the 3rd quarter. Teachers Advisors LLC now owns 28,746 shares of the company’s stock valued at $1,007,000 after purchasing an additional 2,489 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Akcea Therapeutics by 79.8% in the 2nd quarter. Bank of America Corp DE now owns 12,368 shares of the company’s stock valued at $293,000 after purchasing an additional 5,490 shares during the last quarter. Ibex Investors LLC bought a new stake in shares of Akcea Therapeutics in the 3rd quarter valued at approximately $251,000. Paloma Partners Management Co bought a new stake in shares of Akcea Therapeutics in the 2nd quarter valued at approximately $216,000. Finally, Strs Ohio lifted its stake in shares of Akcea Therapeutics by 241.9% in the 2nd quarter. Strs Ohio now owns 14,700 shares of the company’s stock valued at $348,000 after purchasing an additional 10,400 shares during the last quarter. Institutional investors and hedge funds own 26.31% of the company’s stock.
Akcea Therapeutics Company Profile
Akcea Therapeutics, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing drugs to treat patients with cardiometabolic diseases caused by lipid disorders in the United States and internationally. It develops Volanesorsen, which has completed Phase 3 clinical study for the treatment of familial chylomicronemia syndrome; and that is in Phase 3 clinical study for the treatment of familial partial lipodystrophy.
Further Reading: Fiduciary
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