Wells Fargo & Company initiated coverage on shares of Akcea Therapeut (NASDAQ:AKCA) in a research note released on Tuesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $27.00 price objective on the stock.

Other equities research analysts have also issued research reports about the stock. Cowen and Company began coverage on shares of Akcea Therapeut in a research note on Tuesday. They set an outperform rating on the stock. Stifel Nicolaus began coverage on shares of Akcea Therapeut in a research note on Tuesday. They set a buy rating and a $19.00 target price on the stock.

Shares of Akcea Therapeut (NASDAQ AKCA) traded down 1.77% during mid-day trading on Tuesday, reaching $14.44. 211,100 shares of the company’s stock were exchanged. The stock’s market cap is $927.02 million. The company has a 50 day moving average price of $9.93 and a 200-day moving average price of $9.93. Akcea Therapeut has a one year low of $1.05 and a one year high of $16.30.

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In related news, major shareholder Ionis Pharmaceuticals Inc bought 3,125,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were purchased at an average price of $8.00 per share, with a total value of $25,000,000.00. Following the purchase, the insider now owns 28,884,540 shares of the company’s stock, valued at approximately $231,076,320. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

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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