Ionis Pharmaceuticals (IONS) Downgraded by BidaskClub
BidaskClub cut shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a buy rating to a hold rating in a research report released on Friday morning.
Other equities research analysts have also issued reports about the stock. Needham & Company LLC reaffirmed a buy rating and set a $64.00 price target on shares of Ionis Pharmaceuticals in a report on Tuesday, October 17th. BMO Capital Markets reaffirmed an outperform rating and set a $69.00 price target on shares of Ionis Pharmaceuticals in a report on Monday, October 2nd. Barclays lowered their price target on shares of Ionis Pharmaceuticals from $55.00 to $52.00 and set an equal weight rating for the company in a report on Thursday, September 21st. Zacks Investment Research lowered shares of Ionis Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, November 9th. Finally, Goldman Sachs Group reaffirmed a sell rating and set a $30.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Ionis Pharmaceuticals presently has an average rating of Hold and an average target price of $50.31.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) opened at $50.86 on Friday. Ionis Pharmaceuticals has a 52-week low of $37.26 and a 52-week high of $65.51. The stock has a market cap of $6,320.00, a price-to-earnings ratio of 363.29 and a beta of 2.85. The company has a quick ratio of 6.21, a current ratio of 6.25 and a debt-to-equity ratio of 1.50.
In other news, Chairman Stanley T. Crooke sold 27,500 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $52.89, for a total value of $1,454,475.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stanley T. Crooke sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $52.00, for a total transaction of $780,000.00. Following the completion of the transaction, the chief executive officer now owns 43,014 shares in the company, valued at $2,236,728. The disclosure for this sale can be found here. Over the last three months, insiders have sold 131,886 shares of company stock valued at $7,516,135. 2.13% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of IONS. Vanguard Group Inc. increased its stake in Ionis Pharmaceuticals by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 9,855,160 shares of the company’s stock valued at $501,332,000 after buying an additional 417,364 shares during the period. BlackRock Inc. increased its stake in Ionis Pharmaceuticals by 4.0% during the 2nd quarter. BlackRock Inc. now owns 6,823,987 shares of the company’s stock valued at $347,135,000 after buying an additional 264,179 shares during the period. American Century Companies Inc. increased its stake in Ionis Pharmaceuticals by 33.0% during the 3rd quarter. American Century Companies Inc. now owns 1,144,526 shares of the company’s stock valued at $58,027,000 after buying an additional 284,266 shares during the period. First Trust Advisors LP increased its stake in Ionis Pharmaceuticals by 40.2% during the 3rd quarter. First Trust Advisors LP now owns 982,344 shares of the company’s stock valued at $49,805,000 after buying an additional 281,733 shares during the period. Finally, Northern Trust Corp increased its stake in Ionis Pharmaceuticals by 7.8% during the 2nd quarter. Northern Trust Corp now owns 621,816 shares of the company’s stock valued at $31,631,000 after buying an additional 44,750 shares during the period. Institutional investors own 91.40% of the company’s stock.
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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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