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

Ionis Pharmaceuticals (NASDAQ:IONS) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Several other brokerages have also recently weighed in on IONS. Leerink Partners upgraded Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $53.00 to $62.00 in a research note on Wednesday, July 24th. Bank of America raised their price objective on Ionis Pharmaceuticals from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company dropped their price objective on Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday, September 26th. Finally, Guggenheim lowered their target price on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $60.71.

Ionis Pharmaceuticals Price Performance

Shares of NASDAQ:IONS opened at $37.78 on Tuesday. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86. The stock’s fifty day simple moving average is $40.09 and its two-hundred day simple moving average is $42.84. Ionis Pharmaceuticals has a 1-year low of $35.95 and a 1-year high of $54.44. The stock has a market cap of $5.97 billion, a PE ratio of -15.48 and a beta of 0.39.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in Ionis Pharmaceuticals by 83.9% during the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock valued at $27,000 after buying an additional 303 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Ionis Pharmaceuticals during the second quarter worth about $29,000. Itau Unibanco Holding S.A. purchased a new position in shares of Ionis Pharmaceuticals during the second quarter worth about $37,000. Mather Group LLC. grew its holdings in shares of Ionis Pharmaceuticals by 35.8% during the second quarter. Mather Group LLC. now owns 911 shares of the company’s stock worth $39,000 after purchasing an additional 240 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Ionis Pharmaceuticals during the third quarter worth about $40,000. 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.