Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) had its target price hoisted by Morgan Stanley from $45.00 to $49.00 in a research report report published on Wednesday. Morgan Stanley currently has an equal weight rating on the stock.
Several other equities analysts also recently commented on the stock. Stifel Nicolaus restated a hold rating and issued a $50.00 price target on shares of Ionis Pharmaceuticals in a research note on Friday, October 13th. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a hold rating to a buy rating and set a $58.00 price target for the company in a research note on Wednesday, July 12th. BMO Capital Markets restated an outperform rating and issued a $62.00 price target (up previously from $59.56) on shares of Ionis Pharmaceuticals in a research note on Tuesday, July 25th. Barclays PLC initiated coverage on shares of Ionis Pharmaceuticals in a research note on Wednesday, September 6th. They issued an equal weight rating and a $55.00 price target for the company. Finally, Goldman Sachs Group, Inc. (The) restated a sell rating and issued a $30.00 price target on shares of Ionis Pharmaceuticals in a research note on Friday, October 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Ionis Pharmaceuticals currently has an average rating of Hold and a consensus price target of $50.31.
Ionis Pharmaceuticals (IONS) traded up $0.76 during trading on Wednesday, reaching $55.88. 699,400 shares of the company traded hands, compared to its average volume of 1,855,139. Ionis Pharmaceuticals has a 12-month low of $37.26 and a 12-month high of $65.51. The company has a debt-to-equity ratio of 1.50, a current ratio of 6.25 and a quick ratio of 5.00. The firm has a market cap of $6,973.60, a P/E ratio of 372.53 and a beta of 2.90.
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In other Ionis Pharmaceuticals news, SVP Patrick R. O’neil sold 1,000 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $55.00, for a total value of $55,000.00. Following the transaction, the senior vice president now directly owns 10,633 shares in the company, valued at $584,815. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO B Lynne Parshall sold 16,118 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $65.00, for a total transaction of $1,047,670.00. Following the completion of the transaction, the chief operating officer now owns 33,526 shares in the company, valued at $2,179,190. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,636 shares of company stock worth $5,723,915. 2.13% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC increased its stake in shares of Ionis Pharmaceuticals by 62.8% during the second quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock worth $109,000 after acquiring an additional 800 shares during the period. Hanseatic Management Services Inc. increased its stake in shares of Ionis Pharmaceuticals by 1.2% during the second quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock worth $177,000 after acquiring an additional 41 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Ionis Pharmaceuticals by 9.1% during the second quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock worth $190,000 after acquiring an additional 311 shares during the period. WFG Advisors LP increased its stake in shares of Ionis Pharmaceuticals by 77.2% during the second quarter. WFG Advisors LP now owns 3,800 shares of the company’s stock worth $193,000 after acquiring an additional 1,655 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in shares of Ionis Pharmaceuticals during the third quarter worth about $212,000. Institutional investors and hedge funds own 89.05% of the company’s stock.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.
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