Ionis Pharmaceuticals (NASDAQ:IONS) Price Target Cut to $62.00 by Analysts at Piper Sandler

Ionis Pharmaceuticals (NASDAQ:IONS) had its price objective lowered by Piper Sandler from $65.00 to $62.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also commented on the stock. 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 report on Monday, August 26th. Bank of America increased their price objective on shares of Ionis Pharmaceuticals from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Barclays raised their price target on shares of Ionis Pharmaceuticals from $45.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Wells Fargo & Company decreased their price target on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, StockNews.com cut Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday. 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.65.

Ionis Pharmaceuticals Trading Down 6.5 %

Shares of IONS stock traded down $2.42 during trading hours on Thursday, hitting $34.81. 863,663 shares of the company were exchanged, compared to its average volume of 1,313,033. Ionis Pharmaceuticals has a 1 year low of $34.67 and a 1 year high of $54.44. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86. The firm has a fifty day moving average of $39.87 and a 200 day moving average of $42.80.

Insider Transactions at Ionis Pharmaceuticals

In other news, EVP Eric Swayze sold 1,194 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total transaction of $45,276.48. Following the completion of the transaction, the executive vice president now directly owns 33,713 shares in the company, valued at approximately $1,278,396.96. The trade was a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brett P. Monia sold 6,630 shares of the business’s stock in a transaction 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 owns 167,393 shares of the company’s stock, valued at $6,369,303.65. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,197 shares of company stock worth $315,310. 2.71% of the stock is owned by company insiders.

Institutional Trading of Ionis Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Great Point Partners LLC acquired a new position in shares of Ionis Pharmaceuticals during the 2nd quarter worth $15,728,000. International Assets Investment Management LLC grew its position in shares of Ionis Pharmaceuticals by 3,287.0% in the 3rd quarter. International Assets Investment Management LLC now owns 328,772 shares of the company’s stock valued at $13,171,000 after buying an additional 319,065 shares during the last quarter. Logos Global Management LP bought a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter valued at about $14,298,000. Zimmer Partners LP bought a new stake in shares of Ionis Pharmaceuticals in the 1st quarter valued at about $11,718,000. Finally, Baker BROS. Advisors LP bought a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter valued at about $8,952,000. 93.86% of the stock is currently owned by institutional investors.

Ionis Pharmaceuticals Company Profile

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.