Ionis Pharmaceuticals (NASDAQ:IONS) had its price target increased by equities researchers at Wells Fargo & Co from $90.00 to $120.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the stock. Wells Fargo & Co‘s target price would indicate a potential upside of 95.41% from the company’s previous close.
Several other analysts have also recently weighed in on IONS. Evercore ISI set a $76.00 price target on Ionis Pharmaceuticals and gave the company a “hold” rating in a report on Wednesday, August 7th. BMO Capital Markets lowered their price target on Ionis Pharmaceuticals from $96.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Sanford C. Bernstein raised Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Tuesday, September 10th. BidaskClub raised Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday. Finally, TheStreet cut Ionis Pharmaceuticals from a “b-” rating to a “c” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $76.20.
Shares of NASDAQ:IONS traded up $1.67 on Thursday, hitting $61.41. The company’s stock had a trading volume of 8,141 shares, compared to its average volume of 1,024,001. The company has a 50-day simple moving average of $62.81 and a 200 day simple moving average of $67.97. Ionis Pharmaceuticals has a 1 year low of $43.27 and a 1 year high of $86.58. The company has a market capitalization of $8.60 billion, a PE ratio of 20.78 and a beta of 1.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 10.01 and a quick ratio of 9.93.
In other news, CEO Stanley T. Crooke sold 10,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $70.25, for a total transaction of $702,500.00. Following the transaction, the chief executive officer now directly owns 79,634 shares in the company, valued at approximately $5,594,288.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Stanley T. Crooke sold 22,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $71.52, for a total value of $1,573,440.00. Following the transaction, the chairman now owns 79,634 shares in the company, valued at $5,695,423.68. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in IONS. First Trust Advisors LP increased its position in shares of Ionis Pharmaceuticals by 16.7% during the 1st quarter. First Trust Advisors LP now owns 2,591,839 shares of the company’s stock valued at $210,380,000 after purchasing an additional 370,977 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Ionis Pharmaceuticals by 12.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,485 shares of the company’s stock worth $121,000 after acquiring an additional 160 shares during the last quarter. Northeast Financial Consultants Inc bought a new position in Ionis Pharmaceuticals during the 1st quarter worth approximately $646,000. Dynamic Capital Management Ltd bought a new position in Ionis Pharmaceuticals during the 1st quarter worth approximately $495,000. Finally, Vestmark Advisory Solutions Inc. bought a new position in Ionis Pharmaceuticals during the 1st quarter worth approximately $1,957,000. Hedge funds and other institutional investors own 89.05% 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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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