ValuEngine upgraded shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a sell rating to a hold rating in a research note published on Thursday morning.
A number of other equities analysts have also issued reports on IONS. Morgan Stanley increased their price objective on Ionis Pharmaceuticals from $45.00 to $49.00 and gave the stock an equal weight rating in a report on Wednesday, November 8th. BMO Capital Markets increased their price target on Ionis Pharmaceuticals from $64.00 to $65.00 and gave the company an outperform rating in a research note on Wednesday, November 8th. Zacks Investment Research lowered Ionis Pharmaceuticals from a buy rating to a hold rating in a research note on Thursday, November 9th. BidaskClub raised Ionis Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, December 7th. Finally, Sanford C. Bernstein reaffirmed a market perform rating and set a $55.00 price target (down from $61.00) on shares of Ionis Pharmaceuticals in a research note on Tuesday, February 20th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $51.12.
Ionis Pharmaceuticals (NASDAQ IONS) opened at $52.98 on Thursday. Ionis Pharmaceuticals has a fifty-two week low of $37.26 and a fifty-two week high of $65.51. The company has a debt-to-equity ratio of 1.45, a current ratio of 5.20 and a quick ratio of 5.15.
In other news, Director Joseph Klein III sold 3,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $51.69, for a total transaction of $155,070.00. Following the completion of the sale, the director now owns 12,939 shares in the company, valued at approximately $668,816.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP C Frank Bennett sold 12,500 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $52.50, for a total value of $656,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,635 shares of company stock valued at $5,876,141. 2.13% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in IONS. American Century Companies Inc. lifted its position in shares of Ionis Pharmaceuticals by 33.0% during the 3rd quarter. American Century Companies Inc. now owns 1,144,526 shares of the company’s stock valued at $58,027,000 after acquiring an additional 284,266 shares during the last quarter. Farallon Capital Management LLC lifted its position in shares of Ionis Pharmaceuticals by 43.3% during the 4th quarter. Farallon Capital Management LLC now owns 645,000 shares of the company’s stock valued at $32,444,000 after acquiring an additional 195,000 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Ionis Pharmaceuticals by 3,164.1% during the 4th quarter. Two Sigma Investments LP now owns 170,160 shares of the company’s stock valued at $8,559,000 after acquiring an additional 164,947 shares during the last quarter. Tocqueville Asset Management L.P. lifted its position in shares of Ionis Pharmaceuticals by 19.3% during the 4th quarter. Tocqueville Asset Management L.P. now owns 841,724 shares of the company’s stock valued at $42,339,000 after acquiring an additional 136,317 shares during the last quarter. Finally, Tekla Capital Management LLC acquired a new stake in shares of Ionis Pharmaceuticals during the 4th quarter valued at $6,485,000. Institutional investors own 90.95% 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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