Ionis Pharmaceuticals (NASDAQ:IONS) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other analysts have also recently issued reports on the company. Stifel Nicolaus restated a “hold” rating and issued a $50.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, October 13th. Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $62.00 price target for the company in a report on Friday, October 27th. Morgan Stanley increased their price target on Ionis Pharmaceuticals from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 8th. BMO Capital Markets increased their price target on Ionis Pharmaceuticals from $64.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Finally, Barclays initiated coverage on Ionis Pharmaceuticals in a report on Wednesday, September 6th. They set an “equal weight” rating and a $55.00 price target for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $50.31.

Ionis Pharmaceuticals (NASDAQ:IONS) traded up $1.39 during midday trading on Thursday, reaching $53.93. The company had a trading volume of 626,305 shares, compared to its average volume of 1,458,352. Ionis Pharmaceuticals has a 1 year low of $37.26 and a 1 year high of $65.51. The company has a current ratio of 6.25, a quick ratio of 6.21 and a debt-to-equity ratio of 1.50. The firm has a market cap of $6,546.77, a P/E ratio of 349.73 and a beta of 2.85.

In other Ionis Pharmaceuticals news, SVP Patrick R. O’neil sold 1,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $55.50, for a total value of $55,500.00. Following the transaction, the senior vice president now directly owns 11,433 shares in the company, valued at approximately $634,531.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Elizabeth L. Hougen sold 4,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $57.00, for a total value of $228,000.00. Following the completion of the transaction, the senior vice president now owns 14,392 shares in the company, valued at $820,344. The disclosure for this sale can be found here. Insiders have sold a total of 123,886 shares of company stock worth $7,098,315 in the last 90 days. 2.13% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Ionis Pharmaceuticals by 4.4% in the second quarter. Vanguard Group Inc. now owns 9,855,160 shares of the company’s stock valued at $501,332,000 after buying an additional 417,364 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Ionis Pharmaceuticals by 33.0% in the third quarter. American Century Companies Inc. now owns 1,144,526 shares of the company’s stock valued at $58,027,000 after buying an additional 284,266 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Ionis Pharmaceuticals by 40.2% in the third quarter. First Trust Advisors LP now owns 982,344 shares of the company’s stock valued at $49,805,000 after buying an additional 281,733 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Ionis Pharmaceuticals by 4.0% in the second quarter. BlackRock Inc. now owns 6,823,987 shares of the company’s stock valued at $347,135,000 after buying an additional 264,179 shares in the last quarter. Finally, Smith Asset Management Group LP purchased a new stake in shares of Ionis Pharmaceuticals in the second quarter valued at approximately $11,394,000. Institutional investors own 91.59% 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.

Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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