Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) had its target price lowered by analysts at Piper Sandler from $65.00 to $62.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's target price would indicate a potential upside of 66.53% from the stock's previous close.
Other research analysts have also recently issued reports about the stock. TD Cowen lifted their price target on shares of Ionis Pharmaceuticals from $54.00 to $59.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a research note on Thursday, November 7th. StockNews.com downgraded shares of Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Tuesday. Bank of America boosted their price target on shares of Ionis Pharmaceuticals from $67.00 to $68.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Ionis Pharmaceuticals from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Monday, August 26th. Two investment 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 stock. According to data from MarketBeat.com, Ionis Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $60.65.
Check Out Our Latest Report on Ionis Pharmaceuticals
Ionis Pharmaceuticals Price Performance
IONS stock traded down $0.55 during trading on Thursday, reaching $37.23. 1,921,175 shares of the company were exchanged, compared to its average volume of 1,315,067. The company has a market cap of $5.88 billion, a P/E ratio of -15.26 and a beta of 0.39. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91. The stock's 50 day moving average price is $39.87 and its 200 day moving average price is $42.80. Ionis Pharmaceuticals has a 52-week low of $35.95 and a 52-week high of $54.44.
Insider Transactions at Ionis Pharmaceuticals
In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 1,194 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $37.92, for a total value of $45,276.48. Following the completion of the sale, the executive vice president now directly owns 33,713 shares of the company's stock, valued at approximately $1,278,396.96. The trade was a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brett P. Monia sold 6,630 shares of the firm's 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 transaction, the chief executive officer now owns 167,393 shares in the company, valued at $6,369,303.65. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,197 shares of company stock worth $315,310. Insiders own 2.71% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of IONS. GAMMA Investing LLC lifted its stake in Ionis Pharmaceuticals by 83.9% in the third quarter. GAMMA Investing LLC now owns 664 shares of the company's stock worth $27,000 after purchasing an additional 303 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Ionis Pharmaceuticals during the 2nd quarter worth approximately $29,000. Itau Unibanco Holding S.A. purchased a new position in Ionis Pharmaceuticals during the 2nd quarter valued at about $37,000. Mather Group LLC. increased its position in Ionis Pharmaceuticals by 35.8% during the 2nd quarter. Mather Group LLC. now owns 911 shares of the company's stock valued at $39,000 after buying an additional 240 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Ionis Pharmaceuticals in the 3rd quarter worth about $40,000. 93.86% of the stock is owned by institutional investors.
Ionis Pharmaceuticals Company Profile
(
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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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