Piper Sandler Cuts Ionis Pharmaceuticals (NASDAQ:IONS) Price Target to $62.00

Ionis Pharmaceuticals (NASDAQ:IONSGet Free Report) had its price objective reduced by equities researchers at Piper Sandler from $65.00 to $62.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 64.94% from the company’s current price.

A number of other analysts have also recently commented on the stock. Bank of America boosted their target price on shares of Ionis Pharmaceuticals from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Leerink Partnrs raised Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 24th. Guggenheim lowered their price target on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. StockNews.com lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, TD Cowen increased their target price on shares of Ionis Pharmaceuticals from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $60.65.

Read Our Latest Stock Analysis on IONS

Ionis Pharmaceuticals Price Performance

Shares of NASDAQ:IONS traded down $0.19 during midday trading on Thursday, reaching $37.59. 78,374 shares of the company’s stock traded hands, compared to its average volume of 1,306,633. The company has a fifty day simple moving average of $40.09 and a two-hundred day simple moving average of $42.84. Ionis Pharmaceuticals has a 1 year low of $35.95 and a 1 year high of $54.44. The company has a market cap of $5.94 billion, a P/E ratio of -15.37 and a beta of 0.39. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Castle Hook Partners LP acquired a new stake in Ionis Pharmaceuticals in the third quarter valued at approximately $959,000. FORA Capital LLC acquired a new position in shares of Ionis Pharmaceuticals during the third quarter worth $204,000. MetLife Investment Management LLC increased its holdings in Ionis Pharmaceuticals by 5.8% in the third quarter. MetLife Investment Management LLC now owns 9,363 shares of the company’s stock valued at $375,000 after buying an additional 514 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Ionis Pharmaceuticals in the third quarter valued at $51,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Ionis Pharmaceuticals by 12.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 308,947 shares of the company’s stock worth $12,376,000 after buying an additional 34,097 shares during the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Ionis Pharmaceuticals Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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