Ionis Pharmaceuticals (NASDAQ:IONS) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a sell rating to a hold rating in a report released on Monday morning.

IONS has been the topic of several other research reports. Barclays lifted their target price on Ionis Pharmaceuticals from $45.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. BMO Capital Markets lowered shares of Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $67.00 to $60.00 in a research report on Friday, August 2nd. Leerink Partnrs raised shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 24th. Leerink Partners upgraded shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $53.00 to $62.00 in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.00.

Ionis Pharmaceuticals Trading Down 0.8 %

Shares of Ionis Pharmaceuticals stock opened at $38.44 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 company has a fifty day moving average of $41.61 and a 200 day moving average of $43.02. Ionis Pharmaceuticals has a fifty-two week low of $35.95 and a fifty-two week high of $54.44.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky boosted its position in shares of Ionis Pharmaceuticals by 70.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 24,083 shares of the company’s stock valued at $1,044,000 after buying an additional 9,965 shares during the period. Entropy Technologies LP bought a new position in Ionis Pharmaceuticals in the 1st quarter valued at $630,000. Edgestream Partners L.P. purchased a new stake in Ionis Pharmaceuticals in the first quarter worth $765,000. Blair William & Co. IL lifted its position in shares of Ionis Pharmaceuticals by 67.4% during the first quarter. Blair William & Co. IL now owns 27,838 shares of the company’s stock worth $1,207,000 after purchasing an additional 11,210 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Ionis Pharmaceuticals during the first quarter valued at $613,000. 93.86% of the stock is owned by hedge funds and other institutional investors.

About Ionis Pharmaceuticals

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.