Ionis Pharmaceuticals (NASDAQ:IONS) Downgraded by StockNews.com to “Sell”

Ionis Pharmaceuticals (NASDAQ:IONS) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

A number of other research analysts have also weighed in on IONS. The Goldman Sachs Group lifted their price target on shares of Ionis Pharmaceuticals from $33.00 to $37.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Ionis Pharmaceuticals from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a research note on Thursday, November 7th. TD Cowen lifted their price objective on shares of Ionis Pharmaceuticals from $54.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Barclays lifted their price objective on shares of Ionis Pharmaceuticals from $45.00 to $51.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.71.

Ionis Pharmaceuticals Stock Down 0.8 %

Ionis Pharmaceuticals stock opened at $38.88 on Tuesday. The company’s 50 day simple moving average is $40.48 and its 200 day simple moving average is $42.91. Ionis Pharmaceuticals has a fifty-two week low of $35.95 and a fifty-two week high of $54.44. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of -15.93 and a beta of 0.39. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 7.51.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in IONS. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ionis Pharmaceuticals in the first quarter valued at $613,000. SG Americas Securities LLC increased its holdings in shares of Ionis Pharmaceuticals by 23.7% in the first quarter. SG Americas Securities LLC now owns 7,582 shares of the company’s stock valued at $329,000 after purchasing an additional 1,453 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Ionis Pharmaceuticals by 11.4% in the first quarter. ProShare Advisors LLC now owns 10,216 shares of the company’s stock valued at $443,000 after purchasing an additional 1,049 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Ionis Pharmaceuticals by 32.6% in the first quarter. Bleakley Financial Group LLC now owns 16,229 shares of the company’s stock valued at $704,000 after purchasing an additional 3,990 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Ionis Pharmaceuticals in the first quarter valued at $630,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Ionis Pharmaceuticals Company Profile

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.