BMO Capital Markets reissued their positive rating on shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in a research report released on Tuesday morning. The firm currently has a $63.00 price objective on the stock.
Several other equities research analysts also recently issued reports on IONS. Jefferies Group LLC reaffirmed a sell rating and issued a $17.00 price target on shares of Ionis Pharmaceuticals in a research report on Friday, January 6th. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a hold rating to a buy rating and set a $51.00 target price for the company in a research note on Monday. Cowen and Company reiterated a hold rating on shares of Ionis Pharmaceuticals in a research note on Friday, January 6th. Piper Jaffray Companies reiterated a buy rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, November 9th. Finally, Janney Montgomery Scott reiterated a neutral rating and issued a $54.00 target price (up previously from $50.00) on shares of Ionis Pharmaceuticals in a research note on Wednesday, December 28th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $45.86.
Ionis Pharmaceuticals (NASDAQ:IONS) opened at 46.09 on Tuesday. The stock’s market cap is $5.59 billion. The stock has a 50 day moving average price of $46.55 and a 200-day moving average price of $38.87. Ionis Pharmaceuticals has a 12-month low of $19.59 and a 12-month high of $57.00.
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In related news, Chairman Stanley T. Crooke sold 18,700 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $48.89, for a total value of $914,243.00. Following the completion of the sale, the chairman now owns 30,029 shares of the company’s stock, valued at $1,468,117.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO B Lynne Parshall sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $50.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief operating officer now directly owns 16,693 shares of the company’s stock, valued at approximately $834,650. The disclosure for this sale can be found here. Insiders sold 81,953 shares of company stock valued at $3,845,673 in the last quarter. 1.86% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the stock. Stifel Financial Corp bought a new stake in shares of Ionis Pharmaceuticals during the second quarter worth $13,843,000. Amalgamated Bank raised its stake in shares of Ionis Pharmaceuticals by 35.8% in the second quarter. Amalgamated Bank now owns 19,232 shares of the company’s stock worth $690,000 after buying an additional 5,071 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Ionis Pharmaceuticals by 11.7% in the second quarter. Legal & General Group Plc now owns 64,960 shares of the company’s stock worth $1,513,000 after buying an additional 6,779 shares in the last quarter. Fiera Capital Corp bought a new stake in shares of Ionis Pharmaceuticals during the second quarter worth $22,326,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Ionis Pharmaceuticals by 0.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 9,055 shares of the company’s stock worth $211,000 after buying an additional 82 shares in the last quarter. 87.76% of the stock is owned by institutional investors and hedge funds.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
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