Zacks Investment Research Downgrades Ionis Pharmaceuticals (NASDAQ:IONS) to Hold

Zacks Investment Research downgraded shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a buy rating to a hold rating in a research report sent to investors on Thursday, November 9th.

According to Zacks, “Ionis Pharmaceuticals, Inc. is a RNA-targeted drug discovery and development company which focuses on developing drugs for severe and rare diseases. Ionis Pharmaceuticals, Inc., formerly known as Isis Pharmaceuticals, Inc., is headquartered in Carlsbad, California. “

A number of other analysts have also recently commented on the stock. Stifel Nicolaus boosted their price target on shares of Ionis Pharmaceuticals from $42.00 to $50.00 and gave the stock a hold rating in a research report on Wednesday, August 9th. Needham & Company LLC reiterated a buy rating and issued a $64.00 target price on shares of Ionis Pharmaceuticals in a report on Wednesday, July 26th. BMO Capital Markets boosted their target price on shares of Ionis Pharmaceuticals from $64.00 to $65.00 and gave the company an outperform rating in a report on Wednesday, November 8th. Evercore ISI initiated coverage on shares of Ionis Pharmaceuticals in a report on Wednesday, August 16th. They issued an outperform rating and a $65.00 target price on the stock. Finally, Laidlaw restated a buy rating and issued a $65.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday, August 14th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Ionis Pharmaceuticals presently has a consensus rating of Hold and an average target price of $50.31.

Shares of Ionis Pharmaceuticals (NASDAQ:IONS) opened at $52.93 on Thursday. The company has a current ratio of 6.25, a quick ratio of 6.21 and a debt-to-equity ratio of 1.50. Ionis Pharmaceuticals has a one year low of $37.26 and a one year high of $65.51. The company has a market cap of $6,580.00, a price-to-earnings ratio of 363.53 and a beta of 2.89.

In other news, SVP Patrick R. O’neil sold 1,000 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $55.00, for a total value of $55,000.00. Following the completion of the transaction, the senior vice president now owns 10,633 shares in the company, valued at approximately $584,815. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO B Lynne Parshall sold 16,118 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $65.00, for a total transaction of $1,047,670.00. Following the completion of the transaction, the chief operating officer now owns 33,526 shares of the company’s stock, valued at approximately $2,179,190. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,886 shares of company stock valued at $6,391,045. 2.13% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC purchased a new position in Ionis Pharmaceuticals during the 3rd quarter valued at about $100,000. GSA Capital Partners LLP grew its holdings in shares of Ionis Pharmaceuticals by 10.9% during the third quarter. GSA Capital Partners LLP now owns 23,893 shares of the company’s stock worth $1,211,000 after buying an additional 2,348 shares in the last quarter. Iguana Healthcare Management LLC purchased a new stake in shares of Ionis Pharmaceuticals during the third quarter worth about $761,000. Parallel Advisors LLC grew its holdings in shares of Ionis Pharmaceuticals by 60.3% during the third quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $182,000 after buying an additional 1,250 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Ionis Pharmaceuticals by 1.6% during the third quarter. California Public Employees Retirement System now owns 222,900 shares of the company’s stock worth $11,301,000 after buying an additional 3,600 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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Ionis Pharmaceuticals Company Profile

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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