Ionis Pharmaceuticals (NASDAQ:IONS) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Ionis Pharmaceuticals (NASDAQ:IONSFree Report) in a report published on Friday, Benzinga reports. Needham & Company LLC currently has a $60.00 price objective on the stock.

A number of other research analysts have also issued reports on IONS. Bank of America upgraded shares of Ionis Pharmaceuticals from an underperform rating to a neutral rating and increased their target price for the stock from $33.00 to $52.00 in a research report on Monday, October 23rd. Royal Bank of Canada reissued an outperform rating and set a $65.00 price target on shares of Ionis Pharmaceuticals in a research report on Thursday, October 5th. The Goldman Sachs Group lifted their target price on shares of Ionis Pharmaceuticals from $25.00 to $28.00 and gave the stock a sell rating in a research note on Friday, November 3rd. StockNews.com raised shares of Ionis Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, November 13th. Finally, Raymond James started coverage on shares of Ionis Pharmaceuticals in a report on Thursday, September 28th. They set a strong-buy rating and a $63.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ionis Pharmaceuticals presently has a consensus rating of Hold and a consensus target price of $48.23.

Read Our Latest Research Report on IONS

Ionis Pharmaceuticals Trading Up 1.4 %

Shares of NASDAQ IONS opened at $49.67 on Friday. The company’s fifty day moving average is $45.72 and its 200-day moving average is $42.13. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of -17.31 and a beta of 0.46. Ionis Pharmaceuticals has a twelve month low of $32.69 and a twelve month high of $50.39. The company has a quick ratio of 6.33, a current ratio of 6.39 and a debt-to-equity ratio of 4.06.

Insiders Place Their Bets

In related news, Director B Lynne Parshall sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $45.13, for a total transaction of $451,300.00. Following the completion of the sale, the director now directly owns 82,588 shares of the company’s stock, valued at approximately $3,727,196.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Joseph Klein III sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $50.00, for a total transaction of $100,000.00. Following the completion of the sale, the director now owns 16,346 shares in the company, valued at $817,300. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director B Lynne Parshall sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $45.13, for a total value of $451,300.00. Following the sale, the director now owns 82,588 shares of the company’s stock, valued at approximately $3,727,196.44. The disclosure for this sale can be found here. Insiders sold 20,282 shares of company stock valued at $934,603 in the last three months. 2.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IONS. Creative Planning increased its holdings in shares of Ionis Pharmaceuticals by 41.5% in the third quarter. Creative Planning now owns 21,572 shares of the company’s stock valued at $979,000 after purchasing an additional 6,329 shares during the period. Toroso Investments LLC acquired a new position in shares of Ionis Pharmaceuticals in the third quarter valued at approximately $201,000. Kennedy Capital Management LLC increased its holdings in shares of Ionis Pharmaceuticals by 3.6% in the third quarter. Kennedy Capital Management LLC now owns 238,635 shares of the company’s stock valued at $10,824,000 after purchasing an additional 8,374 shares during the period. Legal & General Group Plc increased its holdings in shares of Ionis Pharmaceuticals by 23.8% in the third quarter. Legal & General Group Plc now owns 165,035 shares of the company’s stock valued at $7,486,000 after purchasing an additional 31,692 shares during the period. Finally, Acuta Capital Partners LLC acquired a new position in shares of Ionis Pharmaceuticals in the third quarter valued at approximately $513,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

Ionis Pharmaceuticals Company Profile

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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.

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Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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