Akcea Therapeutics, Inc. (NASDAQ:AKCA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “Akcea Therapeutics, Inc. is a biopharmaceutical company. It focuses on developing and commercializing drugs to treat patients with cardiometabolic diseases caused by lipid disorders in the United States and internationally. The Company’s drug pipeline consists of volanesorsen, AKCEA-APO(a)-LRx, AKCEA-ANGPTL3-LRx and AKCEA-APOCIII-LRx which are in clinical stage. Akcea Therapeutics, Inc. is headquartered in Cambridge, Massachusetts. “

Other equities analysts have also issued reports about the company. Stifel Nicolaus assumed coverage on Akcea Therapeutics in a research note on Tuesday, August 8th. They issued a “buy” rating and a $19.00 price objective on the stock. BMO Capital Markets initiated coverage on Akcea Therapeutics in a research note on Tuesday, August 8th. They set an “outperform” rating and a $25.00 price target on the stock. Cowen and Company initiated coverage on Akcea Therapeutics in a research note on Tuesday, August 8th. They set an “outperform” rating on the stock. Finally, Wells Fargo & Company initiated coverage on Akcea Therapeutics in a research note on Tuesday, August 8th. They set an “outperform” rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $23.67.

Shares of Akcea Therapeutics (NASDAQ AKCA) traded down 6.46% during midday trading on Tuesday, reaching $24.05. The company’s stock had a trading volume of 424,858 shares. Akcea Therapeutics has a 12 month low of $8.10 and a 12 month high of $31.23. The stock’s market capitalization is $1.54 billion. The stock’s 50-day moving average is $23.96 and its 200 day moving average is $17.88.

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In related news, major shareholder Ionis Pharmaceuticals Inc acquired 3,125,000 shares of the stock in a transaction dated Wednesday, July 19th. The shares were bought at an average cost of $8.00 per share, for a total transaction of $25,000,000.00. Following the purchase, the insider now owns 28,884,540 shares in the company, valued at approximately $231,076,320. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

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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