Ionis Pharmaceuticals (NASDAQ:IONS)‘s stock had its “market perform” rating restated by stock analysts at Sanford C. Bernstein in a note issued to investors on Tuesday. They presently have a $55.00 price objective on the stock, down from their prior price objective of $61.00. Sanford C. Bernstein’s price objective indicates a potential upside of 10.02% from the company’s current price.
A number of other equities research analysts have also recently issued reports on IONS. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, February 10th. BidaskClub cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. BMO Capital Markets boosted their target price on shares of Ionis Pharmaceuticals from $64.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. Finally, Morgan Stanley boosted their target price on shares of Ionis Pharmaceuticals from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 8th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.62.
Shares of Ionis Pharmaceuticals (IONS) traded down $0.06 during trading hours on Tuesday, reaching $49.99. 628,700 shares of the company were exchanged, compared to its average volume of 968,519. The company has a market capitalization of $6,246.02, a PE ratio of 333.29 and a beta of 2.53. Ionis Pharmaceuticals has a 12-month low of $37.26 and a 12-month high of $65.51. The company has a debt-to-equity ratio of 1.50, a current ratio of 6.25 and a quick ratio of 6.21.
In related news, Director Joseph Klein III sold 3,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $48.99, for a total value of $146,970.00. Following the completion of the transaction, the director now owns 11,339 shares of the company’s stock, valued at $555,497.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Elizabeth L. Hougen sold 6,000 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $53.02, for a total transaction of $318,120.00. Following the completion of the transaction, the senior vice president now directly owns 16,392 shares of the company’s stock, valued at approximately $869,103.84. The disclosure for this sale can be found here. Insiders sold 124,635 shares of company stock valued at $6,482,681 in the last three months. Company insiders own 2.13% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC acquired a new position in Ionis Pharmaceuticals in the third quarter worth about $100,000. American International Group Inc. acquired a new position in Ionis Pharmaceuticals in the fourth quarter worth about $147,000. Parallel Advisors LLC raised its position in 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 in the last quarter. Icon Wealth Partners LLC acquired a new position in Ionis Pharmaceuticals in the fourth quarter worth about $182,000. Finally, The Manufacturers Life Insurance Company raised its position in 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 in the last quarter. 91.01% of the stock is owned by hedge funds and other institutional investors.
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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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