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

by · The Markets Daily

Ionis Pharmaceuticals (NASDAQ:IONS – Free Report) had its price target reduced by Piper Sandler from $65.00 to $62.00 in a research report report published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Leerink Partnrs raised shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 24th. TD Cowen raised their price objective on Ionis Pharmaceuticals from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Guggenheim decreased 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. BMO Capital Markets cut Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and cut their price target for the company from $67.00 to $60.00 in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Ionis Pharmaceuticals from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.65.

Read Our Latest Stock Report on Ionis Pharmaceuticals

Ionis Pharmaceuticals Stock Down 7.8 %

Shares of Ionis Pharmaceuticals stock opened at $34.34 on Thursday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91. Ionis Pharmaceuticals has a 52 week low of $34.24 and a 52 week high of $54.44. The stock’s 50-day simple moving average is $39.62 and its 200-day simple moving average is $42.76.

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, CEO Brett P. Monia sold 6,630 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.05, for a total value of $252,271.50. Following the completion of the sale, the chief executive officer now directly owns 167,393 shares of the company’s stock, valued at $6,369,303.65. The trade was a 3.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eric Swayze sold 1,194 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total transaction of $45,276.48. Following 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 disclosure for this sale can be found here. Insiders sold 8,197 shares of company stock worth $315,310 over the last 90 days. Company insiders own 2.71% of the company’s stock.

Institutional Trading of Ionis Pharmaceuticals

Large investors have recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of Ionis Pharmaceuticals by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock worth $106,922,000 after buying an additional 183,814 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ionis Pharmaceuticals by 8.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company’s stock valued at $57,807,000 after purchasing an additional 114,914 shares in the last quarter. ARK Investment Management LLC lifted its position in shares of Ionis Pharmaceuticals by 1.7% in the 3rd 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 during the period. Two Sigma Advisers LP lifted its position in shares of Ionis Pharmaceuticals by 3.5% in the 3rd quarter. Two Sigma Advisers LP now owns 1,332,411 shares of the company’s stock worth $53,376,000 after purchasing an additional 45,300 shares during the period. Finally, TD Asset Management Inc boosted its stake in shares of Ionis Pharmaceuticals by 6.1% during the second quarter. TD Asset Management Inc now owns 952,762 shares of the company’s stock valued at $45,409,000 after purchasing an additional 54,400 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Ionis Pharmaceuticals Company Profile

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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.

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