Akcea Therapeutics (AKCA) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Akcea Therapeutics (NASDAQ:AKCA) from a hold rating to a sell 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. “

Akcea Therapeutics stock opened at $26.31 on Friday. Akcea Therapeutics has a 1-year low of $15.73 and a 1-year high of $40.75. The stock has a market capitalization of $2.31 billion, a P/E ratio of -11.75 and a beta of 1.58.

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in Akcea Therapeutics by 3.2% in the 3rd quarter. FMR LLC now owns 12,857,672 shares of the company’s stock worth $450,275,000 after purchasing an additional 402,289 shares during the period. BlackRock Inc. increased its position in shares of Akcea Therapeutics by 6.0% during the fourth quarter. BlackRock Inc. now owns 2,011,429 shares of the company’s stock worth $60,625,000 after acquiring an additional 113,784 shares during the period. Vanguard Group Inc increased its position in shares of Akcea Therapeutics by 2.7% during the third quarter. Vanguard Group Inc now owns 1,191,511 shares of the company’s stock worth $41,727,000 after acquiring an additional 31,714 shares during the period. Vanguard Group Inc. increased its position in shares of Akcea Therapeutics by 2.7% during the third quarter. Vanguard Group Inc. now owns 1,191,511 shares of the company’s stock worth $41,727,000 after acquiring an additional 31,714 shares during the period. Finally, EcoR1 Capital LLC purchased a new position in shares of Akcea Therapeutics during the third quarter worth approximately $26,444,000. 25.95% of the stock is currently owned by institutional investors.

About Akcea Therapeutics

Akcea Therapeutics, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing drugs to treat patients with cardiometabolic diseases caused by lipid disorders in the United States and internationally. It develops Volanesorsen, which has completed Phase 3 clinical study for the treatment of familial chylomicronemia syndrome; and that is in Phase 3 clinical study for the treatment of familial partial lipodystrophy.

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