Ionis Pharmaceuticals (IONS) Price Target Raised to $57.00
Ionis Pharmaceuticals (NASDAQ:IONS) had its price objective hoisted by Stifel Nicolaus from $55.00 to $57.00 in a report released on Wednesday morning. The brokerage currently has a hold rating on the stock.
Several other equities research analysts also recently commented on the stock. BidaskClub raised shares of Ionis Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, December 7th. Morgan Stanley upped their price objective on shares of Ionis Pharmaceuticals from $45.00 to $49.00 and gave the company an equal weight rating in a report on Wednesday, November 8th. BMO Capital Markets upped their price objective on shares of Ionis Pharmaceuticals from $64.00 to $65.00 and gave the company an outperform rating in a report on Wednesday, November 8th. Zacks Investment Research downgraded shares of Ionis Pharmaceuticals from a hold rating to a sell rating in a report on Saturday, February 10th. Finally, Sanford C. Bernstein reaffirmed a market perform rating and set a $55.00 price objective (down from $61.00) on shares of Ionis Pharmaceuticals in a report on Tuesday, February 20th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Ionis Pharmaceuticals currently has a consensus rating of Hold and an average target price of $51.12.
Ionis Pharmaceuticals (NASDAQ:IONS) traded down $0.95 during midday trading on Wednesday, reaching $48.94. 1,680,000 shares of the company’s stock traded hands, compared to its average volume of 990,824. The stock has a market capitalization of $5,990.00, a P/E ratio of 61.18 and a beta of 2.43. Ionis Pharmaceuticals has a 1-year low of $37.26 and a 1-year high of $65.51. The company has a debt-to-equity ratio of 1.50, a quick ratio of 6.21 and a current ratio of 6.25.
In other news, Chairman Stanley T. Crooke sold 22,000 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $50.01, for a total value of $1,100,220.00. Following the sale, the chairman now directly owns 58,014 shares of the company’s stock, valued at $2,901,280.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director B Lynne Parshall sold 5,986 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $51.76, for a total transaction of $309,835.36. Following the completion of the sale, the director now directly owns 44,166 shares in the company, valued at $2,286,032.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,635 shares of company stock worth $6,104,141. Insiders own 2.13% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new position in shares of Ionis Pharmaceuticals in the third quarter worth approximately $100,000. American International Group Inc. bought a new position in shares of Ionis Pharmaceuticals in the fourth quarter worth approximately $147,000. Parallel Advisors LLC increased its position in shares of Ionis Pharmaceuticals by 60.3% in the third quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $182,000 after purchasing an additional 1,250 shares during the last quarter. Icon Wealth Partners LLC bought a new position in shares of Ionis Pharmaceuticals in the fourth quarter worth approximately $182,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Ionis Pharmaceuticals by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock worth $190,000 after purchasing an additional 311 shares during the last quarter. 91.01% of the stock is currently owned by hedge funds and other institutional investors.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.
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