Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $32.48 and last traded at $32.64, with a volume of 375661 shares. The stock had previously closed at $33.21.
Analyst Ratings Changes
A number of brokerages recently issued reports on IONS. William Blair reissued an "outperform" rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Guggenheim decreased their target price on Ionis Pharmaceuticals from $70.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. StockNews.com cut shares of Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Tuesday, November 12th. Needham & Company LLC reaffirmed a "buy" rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Finally, Piper Sandler decreased their target price on Ionis Pharmaceuticals from $65.00 to $62.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.65.
Read Our Latest Stock Analysis on IONS
Ionis Pharmaceuticals Price Performance
The firm has a market cap of $4.96 billion, a price-to-earnings ratio of -12.88 and a beta of 0.35. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86. The company's 50-day moving average price is $35.63 and its 200-day moving average price is $41.17.
Insider Activity
In related news, CFO Elizabeth L. Hougen sold 8,870 shares of the company's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $32.81, for a total value of $291,024.70. Following the completion of the sale, the chief financial officer now directly owns 107,885 shares of the company's stock, valued at $3,539,706.85. This represents a 7.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett P. Monia sold 6,630 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $38.05, for a total value of $252,271.50. Following the completion of the sale, the chief executive officer now directly owns 167,393 shares of the company's stock, valued at $6,369,303.65. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,293 shares of company stock worth $1,914,820. 2.71% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Ionis Pharmaceuticals
Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC raised its stake in Ionis Pharmaceuticals by 3.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,624 shares of the company's stock valued at $363,000 after acquiring an additional 261 shares during the last quarter. Nicollet Investment Management Inc. raised its stake in shares of Ionis Pharmaceuticals by 1.5% during the third quarter. Nicollet Investment Management Inc. now owns 20,402 shares of the company's stock worth $817,000 after purchasing an additional 294 shares during the last quarter. Amalgamated Bank raised its stake in shares of Ionis Pharmaceuticals by 3.1% during the third quarter. Amalgamated Bank now owns 9,957 shares of the company's stock worth $399,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Ionis Pharmaceuticals by 83.9% in the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company's stock worth $27,000 after acquiring an additional 303 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its stake in shares of Ionis Pharmaceuticals by 40.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,081 shares of the company's stock worth $43,000 after acquiring an additional 314 shares during the period. 93.86% of the stock is owned by hedge funds and other institutional investors.
About Ionis Pharmaceuticals
(
Get Free Report)
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.
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