Wells Fargo & Company Has Lowered Expectations for Ionis Pharmaceuticals (NASDAQ:IONS) Stock Price

Ionis Pharmaceuticals (NASDAQ:IONS) had its price target reduced by Wells Fargo & Company from $82.00 to $77.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their target price 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. Leerink Partners upgraded shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $53.00 to $62.00 in a research note on Wednesday, July 24th. The Goldman Sachs Group upped their price target on shares of Ionis Pharmaceuticals from $33.00 to $37.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Bank of America upped their price target on shares of Ionis Pharmaceuticals from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Barclays upped 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 note on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.71.

Ionis Pharmaceuticals Trading Up 1.9 %

Ionis Pharmaceuticals stock traded up $0.73 during mid-day trading on Thursday, reaching $39.19. 1,019,382 shares of the company traded hands, compared to its average volume of 1,318,118. The company has a debt-to-equity ratio of 4.67, a current ratio of 7.61 and a quick ratio of 7.51. The firm’s 50 day moving average price is $40.82 and its 200 day moving average price is $42.93. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of -16.06 and a beta of 0.39. Ionis Pharmaceuticals has a 52-week low of $35.95 and a 52-week high of $54.44.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Wednesday, November 6th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.21. Ionis Pharmaceuticals had a negative net margin of 44.90% and a negative return on equity of 115.66%. The firm had revenue of $134.00 million for the quarter, compared to analysts’ expectations of $128.99 million. On average, analysts anticipate that Ionis Pharmaceuticals will post -3.73 earnings per share for the current fiscal year.

Institutional Trading of Ionis Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mather Group LLC. increased its stake in Ionis Pharmaceuticals by 35.8% in the second quarter. Mather Group LLC. now owns 911 shares of the company’s stock worth $39,000 after purchasing an additional 240 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in Ionis Pharmaceuticals by 3.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,624 shares of the company’s stock worth $363,000 after purchasing an additional 261 shares during the period. Nicollet Investment Management Inc. increased its stake in Ionis Pharmaceuticals by 1.5% in the third quarter. Nicollet Investment Management Inc. now owns 20,402 shares of the company’s stock worth $817,000 after purchasing an additional 294 shares during the period. Amalgamated Bank increased its stake in Ionis Pharmaceuticals by 3.1% in the third quarter. Amalgamated Bank now owns 9,957 shares of the company’s stock worth $399,000 after purchasing an additional 300 shares during the period. Finally, GAMMA Investing LLC increased its stake in Ionis Pharmaceuticals by 83.9% in the third quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock worth $27,000 after purchasing an additional 303 shares during the period. Hedge funds and other institutional investors own 93.86% of the company’s stock.

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.