Ionis Pharmaceuticals (IONS) Downgraded to “Sell” at Zacks Investment Research

Ionis Pharmaceuticals (NASDAQ:IONS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.

According to Zacks, “Ionis Pharmaceuticals, Inc. is a RNA-targeted drug discovery and development company which focuses on developing drugs for severe and rare diseases. Ionis Pharmaceuticals, Inc., formerly known as Isis Pharmaceuticals, Inc., is headquartered in Carlsbad, California. “

IONS has been the subject of several other research reports. Stifel Nicolaus reiterated a “hold” rating and set a $50.00 price objective on shares of Ionis Pharmaceuticals in a research note on Friday, October 13th. Needham & Company LLC reiterated a “buy” rating and set a $64.00 price objective on shares of Ionis Pharmaceuticals in a research note on Tuesday, October 17th. BidaskClub upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. BMO Capital Markets boosted their price objective on shares of Ionis Pharmaceuticals from $64.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. Finally, Morgan Stanley boosted their price objective on shares of Ionis Pharmaceuticals from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 8th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Ionis Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $50.76.

Ionis Pharmaceuticals (NASDAQ IONS) traded down $0.72 during midday trading on Friday, hitting $46.75. 1,900,000 shares of the company traded hands, compared to its average volume of 958,093. The company has a debt-to-equity ratio of 1.50, a quick ratio of 6.21 and a current ratio of 6.25. The company has a market cap of $5,750.00, a price-to-earnings ratio of 333.93 and a beta of 2.53. Ionis Pharmaceuticals has a 1 year low of $37.26 and a 1 year high of $65.51.

In other Ionis Pharmaceuticals news, CFO Elizabeth L. Hougen sold 2,724 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $51.76, for a total transaction of $140,994.24. Following the sale, the chief financial officer now owns 17,224 shares of the company’s stock, valued at approximately $891,514.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP C Frank Bennett sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $52.50, for a total transaction of $656,250.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,885 shares of company stock worth $7,002,841. 2.13% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in IONS. Ameriprise Financial Inc. boosted its holdings in shares of Ionis Pharmaceuticals by 267.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 18,752 shares of the company’s stock valued at $953,000 after acquiring an additional 13,647 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Ionis Pharmaceuticals by 7.8% in the 2nd quarter. Northern Trust Corp now owns 621,816 shares of the company’s stock valued at $31,631,000 after acquiring an additional 44,750 shares during the last quarter. Ark Investment Management LLC boosted its holdings in shares of Ionis Pharmaceuticals by 38.7% in the 2nd quarter. Ark Investment Management LLC now owns 176,991 shares of the company’s stock valued at $9,004,000 after acquiring an additional 49,428 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Ionis Pharmaceuticals by 0.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 100,250 shares of the company’s stock valued at $5,100,000 after acquiring an additional 387 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Ionis Pharmaceuticals by 15.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 196,812 shares of the company’s stock valued at $10,014,000 after acquiring an additional 26,496 shares during the last quarter. 91.44% of the stock is currently owned by institutional investors.

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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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