Akcea Therapeutics (AKCA) Cut to Hold at Zacks Investment Research

Akcea Therapeutics (NASDAQ:AKCA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

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. “

AKCA has been the topic of a number of other reports. Cowen restated a “buy” rating on shares of Akcea Therapeutics in a report on Tuesday, October 31st. BidaskClub lowered shares of Akcea Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, December 30th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $20.00 price objective (up from $19.00) on shares of Akcea Therapeutics in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Akcea Therapeutics presently has a consensus rating of “Buy” and an average target price of $22.75.

Akcea Therapeutics (AKCA) traded down $0.29 during trading on Friday, reaching $16.70. 372,100 shares of the company’s stock were exchanged, compared to its average volume of 373,967. The firm has a market cap of $1,110.00 and a price-to-earnings ratio of -4.24. Akcea Therapeutics has a 12 month low of $8.10 and a 12 month high of $31.23.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of Akcea Therapeutics in the 3rd quarter valued at $118,000. Nationwide Fund Advisors purchased a new position in shares of Akcea Therapeutics in the 3rd quarter valued at $209,000. Candriam Luxembourg S.C.A. purchased a new position in shares of Akcea Therapeutics in the 3rd quarter valued at $5,314,000. New York State Common Retirement Fund purchased a new position in shares of Akcea Therapeutics in the 3rd quarter valued at $810,000. Finally, Rhumbline Advisers purchased a new position in shares of Akcea Therapeutics in the 3rd quarter valued at $353,000. Institutional investors and hedge funds own 26.04% 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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