Ionis Pharmaceuticals (NASDAQ:IONS) Stock Rating Upgraded by StockNews.com

Ionis Pharmaceuticals (NASDAQ:IONS) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

A number of other brokerages have also issued reports on IONS. Leerink Partnrs raised shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 24th. 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. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, August 2nd. TD Cowen raised their price objective on Ionis Pharmaceuticals from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Barclays upped their target price on Ionis Pharmaceuticals from $45.00 to $51.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

Ionis Pharmaceuticals Stock Up 0.9 %

Shares of IONS opened at $38.80 on Monday. The company has a quick ratio of 7.51, a current ratio of 7.61 and a debt-to-equity ratio of 4.67. The business has a fifty day moving average of $41.45 and a 200 day moving average of $43.00. The company has a market cap of $5.67 billion, a PE ratio of -15.40 and a beta of 0.39. Ionis Pharmaceuticals has a 52-week low of $35.95 and a 52-week high of $54.44.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its stake in Ionis Pharmaceuticals by 2.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 21,974 shares of the company’s stock worth $953,000 after buying an additional 512 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Ionis Pharmaceuticals during the first quarter worth about $613,000. Grandfield & Dodd LLC grew its stake in shares of Ionis Pharmaceuticals by 2.0% during the first quarter. Grandfield & Dodd LLC now owns 33,774 shares of the company’s stock worth $1,464,000 after acquiring an additional 670 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Ionis Pharmaceuticals by 23.7% in the 1st 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. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Ionis Pharmaceuticals in the 1st quarter valued at approximately $1,976,000. 93.86% of the stock is owned by hedge funds and other institutional investors.

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.