Royal Bank of Canada reiterated their outperform rating on shares of Ionis Pharmaceuticals (NASDAQ:IONS – Get Rating) in a research note published on Thursday morning, Benzinga reports. The firm currently has a $65.00 target price on the stock.
IONS has been the topic of a number of other research reports. Needham & Company LLC reiterated a buy rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday. Piper Sandler increased their target price on Ionis Pharmaceuticals from $60.00 to $62.00 and gave the stock an overweight rating in a research note on Thursday, January 19th. Morgan Stanley lowered Ionis Pharmaceuticals from an overweight rating to an equal weight rating and lowered their price objective for the stock from $56.00 to $40.00 in a research note on Wednesday, December 21st. SVB Securities lowered their price objective on Ionis Pharmaceuticals from $34.00 to $27.00 in a research note on Thursday. Finally, SVB Leerink raised their price objective on Ionis Pharmaceuticals from $33.00 to $34.00 and gave the stock a market perform rating in a research note on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ionis Pharmaceuticals has an average rating of Hold and an average target price of $47.92.
Ionis Pharmaceuticals Price Performance
NASDAQ:IONS opened at $35.69 on Thursday. The company has a quick ratio of 7.52, a current ratio of 7.07 and a debt-to-equity ratio of 2.06. The stock’s 50 day moving average price is $38.96 and its two-hundred day moving average price is $41.80. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of -18.78 and a beta of 0.55. Ionis Pharmaceuticals has a 12-month low of $31.32 and a 12-month high of $48.82.
Insider Buying and Selling at Ionis Pharmaceuticals
In other Ionis Pharmaceuticals news, Director Joseph Klein III sold 2,000 shares of the firm’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the sale, the director now owns 16,791 shares of the company’s stock, valued at approximately $671,640. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Brett P. Monia sold 25,066 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 120,863 shares of the company’s stock, valued at approximately $4,772,879.87. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Klein III sold 2,000 shares of the firm’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $40.00, for a total value of $80,000.00. Following the sale, the director now directly owns 16,791 shares in the company, valued at approximately $671,640. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,022 shares of company stock valued at $2,961,208. 2.36% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Wipfli Financial Advisors LLC bought a new position in Ionis Pharmaceuticals during the 3rd quarter worth $27,000. Ronald Blue Trust Inc. bought a new position in Ionis Pharmaceuticals during the 2nd quarter worth $25,000. Heritage Wealth Management LLC bought a new position in Ionis Pharmaceuticals during the 2nd quarter worth $25,000. Guardian Wealth Advisors LLC bought a new position in Ionis Pharmaceuticals during the 3rd quarter worth $33,000. Finally, Almanack Investment Partners LLC. bought a new position in Ionis Pharmaceuticals during the 3rd quarter worth $44,000. 87.32% of the stock is owned by 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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