Ionis Pharmaceuticals (NASDAQ:IONS) Price Target Cut to $77.00 by Analysts at Wells Fargo & Company

Ionis Pharmaceuticals (NASDAQ:IONS) had its price objective trimmed by Wells Fargo & Company from $82.00 to $77.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on IONS. Jefferies Financial Group initiated coverage on shares of Ionis Pharmaceuticals in a research report on Tuesday, July 16th. They set a “buy” rating and a $75.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday. Bank of America raised their target price on shares of Ionis Pharmaceuticals from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. BMO Capital Markets downgraded Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $67.00 to $60.00 in a research note on Friday, August 2nd. Finally, StockNews.com upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.71.

Ionis Pharmaceuticals Stock Up 1.9 %

Shares of NASDAQ IONS traded up $0.73 during mid-day trading on Thursday, reaching $39.19. 1,019,382 shares of the company traded hands, compared to its average volume of 1,318,118. The stock has a market cap of $5.73 billion, a PE ratio of -16.06 and a beta of 0.39. The company has a debt-to-equity ratio of 4.67, a quick ratio of 7.51 and a current ratio of 7.61. Ionis Pharmaceuticals has a fifty-two week low of $35.95 and a fifty-two week high of $54.44. The company’s fifty day moving average is $40.82 and its two-hundred day moving average is $42.93.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.16) by $0.21. The firm had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $128.99 million. Ionis Pharmaceuticals had a negative return on equity of 115.66% and a negative net margin of 44.90%. On average, analysts expect that Ionis Pharmaceuticals will post -3.73 earnings per share for the current year.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of Ionis Pharmaceuticals by 83.9% in the third quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock worth $27,000 after buying an additional 303 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $29,000. Itau Unibanco Holding S.A. bought a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $37,000. Mather Group LLC. lifted its holdings in shares of Ionis Pharmaceuticals by 35.8% in the 2nd quarter. Mather Group LLC. now owns 911 shares of the company’s stock worth $39,000 after acquiring an additional 240 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter worth approximately $40,000. Institutional investors own 93.86% of the company’s stock.

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.