Ionis Pharmaceuticals (NASDAQ:IONS) Downgraded by StockNews.com to “Sell”

Ionis Pharmaceuticals (NASDAQ:IONS) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

A number of other brokerages also recently commented on IONS. Leerink Partnrs upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of Ionis Pharmaceuticals from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. BMO Capital Markets downgraded shares of Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $67.00 to $60.00 in a research note on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday, September 26th. Finally, Wells Fargo & Company lowered their target price 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 analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $60.71.

Ionis Pharmaceuticals Stock Performance

NASDAQ:IONS opened at $38.88 on Tuesday. The company has a fifty day simple moving average of $40.48 and a two-hundred day simple moving average of $42.91. The company has a market cap of $6.14 billion, a price-to-earnings ratio of -15.93 and a beta of 0.39. The company has a quick ratio of 7.51, a current ratio of 8.91 and a debt-to-equity ratio of 1.86. Ionis Pharmaceuticals has a 52 week low of $35.95 and a 52 week high of $54.44.

Institutional Trading of Ionis Pharmaceuticals

Large investors have recently modified their holdings of the company. nVerses Capital LLC bought a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at $29,000. GAMMA Investing LLC lifted its holdings in shares of Ionis Pharmaceuticals by 83.9% during the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock worth $27,000 after acquiring an additional 303 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Ionis Pharmaceuticals during the 2nd quarter worth about $37,000. Mather Group LLC. lifted its holdings in shares of Ionis Pharmaceuticals by 35.8% during 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 period. Finally, Capital Performance Advisors LLP bought a new position in shares of Ionis Pharmaceuticals during the 3rd quarter worth about $40,000. 93.86% of the stock is owned by 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.