Akcea Therapeut (AKCA) Given $23.67 Average Target Price by Analysts
Shares of Akcea Therapeut (NASDAQ:AKCA) have been given a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that cover the stock, Zacks Investment Research reports. Four analysts have rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus target price of $23.67 for the company, according to Zacks. Zacks has also given Akcea Therapeut an industry rank of 110 out of 265 based on the ratings given to related companies.
Several analysts recently issued reports on AKCA shares. Stifel Nicolaus started coverage on Akcea Therapeut in a report on Tuesday, August 8th. They issued a “buy” rating and a $19.00 price target for the company. BMO Capital Markets started coverage on Akcea Therapeut in a report on Tuesday, August 8th. They issued an “outperform” rating and a $25.00 price target for the company. Wells Fargo & Company started coverage on Akcea Therapeut in a report on Tuesday, August 8th. They issued an “outperform” rating and a $27.00 price target for the company. Finally, Cowen and Company started coverage on Akcea Therapeut in a report on Tuesday, August 8th. They issued an “outperform” rating for the company.
In other news, major shareholder Ionis Pharmaceuticals Inc acquired 3,125,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was bought at an average cost of $8.00 per share, with a total value of $25,000,000.00. Following the transaction, 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 Securities & Exchange Commission, which is available at this hyperlink.
Akcea Therapeut (NASDAQ:AKCA) opened at 21.77 on Friday. The stock’s market capitalization is $1.40 billion. Akcea Therapeut has a 12-month low of $8.10 and a 12-month high of $25.63. The company has a 50-day moving average price of $16.54 and a 200-day moving average price of $13.89.
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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