Ionis Pharmaceuticals (NASDAQ:IONS) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

Several other equities research analysts have also recently commented on IONS. Guggenheim cut their price target on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. Bank of America lifted their target price 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, Leerink Partners raised shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price target for the company from $53.00 to $62.00 in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ionis Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $60.71.

Ionis Pharmaceuticals Price Performance

IONS opened at $37.77 on Tuesday. Ionis Pharmaceuticals has a twelve month low of $35.95 and a twelve month high of $54.44. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91. The firm’s 50-day moving average price is $40.28 and its 200 day moving average price is $42.88.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in IONS. Charles Schwab Investment Management Inc. lifted its stake in Ionis Pharmaceuticals by 8.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company’s stock worth $57,807,000 after acquiring an additional 114,914 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of Ionis Pharmaceuticals by 1.7% during the third quarter. ARK Investment Management LLC now owns 1,384,269 shares of the company’s stock worth $55,454,000 after purchasing an additional 23,244 shares in the last quarter. TD Asset Management Inc increased its holdings in Ionis Pharmaceuticals by 6.1% in the second quarter. TD Asset Management Inc now owns 952,762 shares of the company’s stock valued at $45,409,000 after buying an additional 54,400 shares during the last quarter. Candriam S.C.A. increased its holdings in shares of Ionis Pharmaceuticals by 4.0% in the 2nd quarter. Candriam S.C.A. now owns 948,266 shares of the company’s stock valued at $45,192,000 after acquiring an additional 36,369 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Ionis Pharmaceuticals by 12.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 571,763 shares of the company’s stock worth $24,786,000 after purchasing an additional 62,230 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Ionis Pharmaceuticals Company Profile

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.