Ionis Pharmaceuticals (NASDAQ:IONS – Get Rating) had its price target trimmed by SVB Securities from $34.00 to $27.00 in a research note issued to investors on Thursday, The Fly reports.
Several other research firms also recently commented on IONS. Morgan Stanley downgraded shares of Ionis Pharmaceuticals from an overweight rating to an equal weight rating and dropped their price objective for the company from $56.00 to $40.00 in a report on Wednesday, December 21st. SVB Leerink increased their price objective on shares of Ionis Pharmaceuticals from $33.00 to $34.00 and gave the company a market perform rating in a report on Friday, February 3rd. Needham & Company LLC reissued a buy rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday. Piper Sandler increased their price objective on shares of Ionis Pharmaceuticals from $60.00 to $62.00 and gave the company an overweight rating in a report on Thursday, January 19th. Finally, BMO Capital Markets dropped their price objective on shares of Ionis Pharmaceuticals from $70.00 to $67.00 and set an outperform rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $47.92.
Ionis Pharmaceuticals Trading Down 2.7 %
Shares of Ionis Pharmaceuticals stock opened at $35.69 on Thursday. The company has a market capitalization of $5.10 billion, a P/E ratio of -18.78 and a beta of 0.55. The company has a debt-to-equity ratio of 2.06, a quick ratio of 7.52 and a current ratio of 7.07. The company has a fifty day moving average of $38.96 and a 200 day moving average of $41.80. Ionis Pharmaceuticals has a fifty-two week low of $31.32 and a fifty-two week high of $48.82.
Insider Buying and Selling
In related news, CEO Brett P. Monia sold 25,066 shares of the stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $39.49, for a total value of $989,856.34. Following the sale, the chief executive officer now directly owns 120,863 shares of the company’s stock, valued at approximately $4,772,879.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Eric Swayze sold 5,631 shares of the firm’s stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $39.74, for a total transaction of $223,775.94. Following the transaction, the executive vice president now directly owns 30,041 shares of the company’s stock, valued at $1,193,829.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brett P. Monia sold 25,066 shares of the firm’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $39.49, for a total transaction of $989,856.34. Following the transaction, the chief executive officer now directly owns 120,863 shares in the company, valued at $4,772,879.87. The disclosure for this sale can be found here. Insiders have sold 74,022 shares of company stock valued at $2,961,208 in the last ninety days. 2.36% of the stock is owned by company insiders.
Hedge Funds Weigh In On Ionis Pharmaceuticals
Institutional investors have recently modified their holdings of the stock. Heritage Wealth Management LLC purchased a new position in shares of Ionis Pharmaceuticals during the second quarter worth approximately $25,000. Ronald Blue Trust Inc. bought a new position in shares of Ionis Pharmaceuticals during the second quarter valued at approximately $25,000. Wipfli Financial Advisors LLC bought a new position in shares of Ionis Pharmaceuticals during the third quarter valued at approximately $27,000. Guardian Wealth Advisors LLC bought a new position in shares of Ionis Pharmaceuticals during the third quarter valued at approximately $33,000. Finally, Romano Brothers AND Company bought a new position in shares of Ionis Pharmaceuticals during the fourth quarter valued at approximately $43,000. 87.32% of the stock is owned by hedge funds and other institutional investors.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc engages in the development and commercialization of human therapeutic drugs using antisense technology. It operates through the Ionis Core and Akcea Therapeutics segments. The Ionis Core segment exploits a novel drug discovery platform to generate a pipeline of drugs. The Akcea Therapeutics segment develops and commercializes drugs for cardiometabolic diseases.
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