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.
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.
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