Ionis Pharmaceuticals (NASDAQ:IONS) Price Target Lowered to $62.00 at Piper Sandler

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

Other research analysts have also issued reports about the company. Guggenheim cut their target price on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Leerink Partners raised Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $53.00 to $62.00 in a research report on Wednesday, July 24th. StockNews.com lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. BMO Capital Markets lowered Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $67.00 to $60.00 in a research report on Friday, August 2nd. Finally, Barclays raised their price objective on Ionis Pharmaceuticals from $45.00 to $51.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.65.

Ionis Pharmaceuticals Trading Down 7.8 %

Shares of IONS opened at $34.34 on Thursday. 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 market capitalization of $5.42 billion, a P/E ratio of -14.07 and a beta of 0.39. The stock’s fifty day simple moving average is $39.62 and its 200 day simple moving average is $42.76. Ionis Pharmaceuticals has a twelve month low of $34.24 and a twelve month high of $54.44.

Insider Transactions at Ionis Pharmaceuticals

In related news, EVP Eric Swayze sold 1,194 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total value 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. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brett P. Monia sold 6,630 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total value of $252,271.50. Following the completion of the transaction, 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. Over the last ninety days, insiders have sold 8,197 shares of company stock valued at $315,310. 2.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Ionis Pharmaceuticals by 7.4% in the third quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock worth $106,922,000 after purchasing an additional 183,814 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Ionis Pharmaceuticals by 2.8% in the third quarter. Public Employees Retirement System of Ohio now owns 56,825 shares of the company’s stock valued at $2,276,000 after acquiring an additional 1,529 shares during the period. Groupama Asset Managment boosted its stake in Ionis Pharmaceuticals by 4.1% in the third quarter. Groupama Asset Managment now owns 916,060 shares of the company’s stock valued at $367,000 after acquiring an additional 36,084 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Ionis Pharmaceuticals in the third quarter valued at approximately $807,000. Finally, XTX Topco Ltd acquired a new position in Ionis Pharmaceuticals in the third quarter valued at approximately $673,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

About Ionis Pharmaceuticals

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.