Cowen and Company Begins Coverage on Akcea Therapeut (NASDAQ:AKCA)
Cowen and Company started coverage on shares of Akcea Therapeut (NASDAQ:AKCA) in a report issued on Tuesday, Marketbeat reports. The brokerage issued an outperform rating on the stock.
Separately, Stifel Nicolaus assumed coverage on Akcea Therapeut in a research report on Tuesday. They issued a buy rating and a $19.00 price objective for the company.
Akcea Therapeut (NASDAQ:AKCA) traded down 1.77% during midday trading on Tuesday, reaching $14.44. 211,100 shares of the company were exchanged. The company has a 50 day moving average of $9.93 and a 200-day moving average of $9.93. The company’s market capitalization is $927.02 million. Akcea Therapeut has a 52-week low of $1.05 and a 52-week high of $16.30.
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In other Akcea Therapeut news, major shareholder Ionis Pharmaceuticals Inc acquired 3,125,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $25,000,000.00. Following the completion of the transaction, the insider now owns 28,884,540 shares of the company’s stock, valued at approximately $231,076,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
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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