Piper Sandler Has Lowered Expectations for Ionis Pharmaceuticals (NASDAQ:IONS) Stock Price

Ionis Pharmaceuticals (NASDAQ:IONS) had its price target reduced by Piper Sandler from $65.00 to $62.00 in a research note issued to investors on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. raised their target price on Ionis Pharmaceuticals from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Barclays increased their price objective on Ionis Pharmaceuticals from $45.00 to $51.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. StockNews.com downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. The Goldman Sachs Group increased their price target on shares of Ionis Pharmaceuticals from $33.00 to $37.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.65.

Ionis Pharmaceuticals Trading Down 7.8 %

Shares of Ionis Pharmaceuticals stock opened at $34.34 on Thursday. The firm’s 50 day simple moving average is $39.62 and its two-hundred day simple moving average is $42.76. Ionis Pharmaceuticals has a 12-month low of $34.24 and a 12-month high of $54.44. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91.

Insider Buying and Selling

In other news, CEO Brett P. Monia sold 6,630 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total value of $252,271.50. Following the completion of the sale, the chief executive officer now directly owns 167,393 shares in the company, valued at $6,369,303.65. The trade was a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Eric Swayze sold 1,194 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total value of $45,276.48. Following the transaction, the executive vice president now directly owns 33,713 shares of the company’s stock, valued at approximately $1,278,396.96. The trade was a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,197 shares of company stock valued at $315,310. 2.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Ionis Pharmaceuticals by 83.9% during the third quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock worth $27,000 after purchasing an additional 303 shares in the last quarter. nVerses Capital LLC purchased a new stake in Ionis Pharmaceuticals during the 2nd quarter worth approximately $29,000. Itau Unibanco Holding S.A. acquired a new position in shares of Ionis Pharmaceuticals during the second quarter valued at approximately $37,000. Mather Group LLC. lifted its position in shares of Ionis Pharmaceuticals by 35.8% in the second quarter. Mather Group LLC. now owns 911 shares of the company’s stock valued at $39,000 after acquiring an additional 240 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Ionis Pharmaceuticals in the third quarter worth approximately $40,000. 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.