Akcea Therapeut (NASDAQ:AKCA)’s share price shot up 0.2% on Wednesday . The company traded as high as $23.22 and last traded at $22.79. 219,616 shares were traded during trading, a decline of 55% from the average session volume of 491,779 shares. The stock had previously closed at $22.74.

A number of research firms recently weighed in on AKCA. Cowen and Company began coverage on shares of Akcea Therapeut in a research report on Tuesday, August 8th. They set an “outperform” rating for the company. Stifel Nicolaus began coverage on shares of Akcea Therapeut in a research report on Tuesday, August 8th. They set a “buy” rating and a $19.00 price objective for the company. Wells Fargo & Company began coverage on shares of Akcea Therapeut in a research report on Tuesday, August 8th. They set an “outperform” rating and a $27.00 price objective for the company. Finally, BMO Capital Markets began coverage on shares of Akcea Therapeut in a research report on Tuesday, August 8th. They set an “outperform” rating and a $25.00 price objective for the company.

The stock has a 50 day moving average price of $15.57 and a 200-day moving average price of $13.28. The firm’s market cap is $1.56 billion.

In other Akcea Therapeut 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, for a total transaction of $25,000,000.00. Following the completion of the purchase, the insider now directly owns 28,884,540 shares in the company, valued at $231,076,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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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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