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

StockNews.com upgraded shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a sell rating to a hold rating in a report released on Monday morning.

Several other equities analysts also recently commented on IONS. Leerink Partnrs upgraded Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 24th. Bank of America lifted their target price on Ionis Pharmaceuticals from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Barclays lifted their target price on Ionis Pharmaceuticals from $45.00 to $51.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on Ionis Pharmaceuticals from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Ionis Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $61.00.

Ionis Pharmaceuticals Price Performance

Shares of Ionis Pharmaceuticals stock opened at $39.04 on Monday. The stock’s 50-day simple moving average is $41.05 and its 200-day simple moving average is $42.96. Ionis Pharmaceuticals has a 52 week low of $35.95 and a 52 week high of $54.44. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of -15.49 and a beta of 0.39. The company has a quick ratio of 7.51, a current ratio of 7.61 and a debt-to-equity ratio of 4.67.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Nicollet Investment Management Inc. grew its stake in shares of Ionis Pharmaceuticals by 1.5% during the third quarter. Nicollet Investment Management Inc. now owns 20,402 shares of the company’s stock valued at $817,000 after buying an additional 294 shares during the last quarter. Nicola Wealth Management LTD. grew its stake in shares of Ionis Pharmaceuticals by 17.6% during the third quarter. Nicola Wealth Management LTD. now owns 87,000 shares of the company’s stock valued at $3,485,000 after buying an additional 13,000 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Ionis Pharmaceuticals by 5.9% during the third quarter. Victory Capital Management Inc. now owns 18,350 shares of the company’s stock valued at $735,000 after buying an additional 1,020 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Ionis Pharmaceuticals during the third quarter valued at approximately $465,000. Finally, Privium Fund Management B.V. boosted its holdings in shares of Ionis Pharmaceuticals by 1.4% in the third quarter. Privium Fund Management B.V. now owns 250,744 shares of the company’s stock valued at $10,045,000 after purchasing an additional 3,477 shares during the period. Institutional investors own 93.86% of the company’s stock.

About Ionis Pharmaceuticals

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.