HC Wainwright reiterated their buy rating on shares of Ionis Pharmaceuticals (NASDAQ:IONS – Free Report) in a research report sent to investors on Thursday morning, Marketbeat reports. HC Wainwright currently has a $100.00 price target on the stock.
IONS has been the subject of several other research reports. TD Cowen restated a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, September 8th. The Goldman Sachs Group dropped their price target on shares of Ionis Pharmaceuticals from $69.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a report on Friday, July 17th. Leerink Partners raised their price objective on shares of Ionis Pharmaceuticals from $122.00 to $129.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $84.00 price objective on shares of Ionis Pharmaceuticals in a report on Tuesday, September 8th. Seventeen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ionis Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $89.20.
View Our Latest Stock Report on IONS
Ionis Pharmaceuticals Price Performance
Insider Activity at Ionis Pharmaceuticals
In related news, EVP C. Bennett sold 15,000 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $85.46, for a total transaction of $1,281,900.00. Following the sale, the executive vice president owned 75,018 shares of the company’s stock, valued at approximately $6,411,038.28. The trade was a 16.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Allene M. Diaz sold 10,111 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $85.42, for a total transaction of $863,681.62. Following the transaction, the director owned 3,811 shares in the company, valued at $325,535.62. The trade was a 72.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 31,009 shares of company stock worth $2,638,797. 1.81% of the stock is owned by company insiders.
Institutional Investors Weigh In On Ionis Pharmaceuticals
Institutional investors have recently modified their holdings of the company. Capital World Investors increased its stake in Ionis Pharmaceuticals by 41.2% in the 4th quarter. Capital World Investors now owns 17,961,299 shares of the company’s stock valued at $1,420,918,000 after purchasing an additional 5,238,571 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Ionis Pharmaceuticals by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 3,148,849 shares of the company’s stock valued at $249,158,000 after buying an additional 82,560 shares in the last quarter. Baker BROS. Advisors LP increased its position in shares of Ionis Pharmaceuticals by 216.1% in the fourth quarter. Baker BROS. Advisors LP now owns 1,791,841 shares of the company’s stock valued at $141,753,000 after buying an additional 1,225,043 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in shares of Ionis Pharmaceuticals by 199.7% during the 2nd quarter. Alyeska Investment Group L.P. now owns 1,417,916 shares of the company’s stock worth $112,427,000 after buying an additional 944,766 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in shares of Ionis Pharmaceuticals by 1.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,434,995 shares of the company’s stock worth $107,077,000 after buying an additional 16,504 shares during the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc is a biotechnology company that discovers and develops medicines using antisense technology, which is designed to target RNA and influence the production of disease-related proteins. The company focuses on neurological, cardiovascular, metabolic and other serious diseases for which there remains a significant unmet medical need.
Ionis has developed several approved therapies, including SPINRAZA (nusinersen) for spinal muscular atrophy, QALSODY (tofersen) for a form of amyotrophic lateral sclerosis, TEGSEDI (inotersen) for hereditary transthyretin-mediated amyloidosis and WAYLIVRA (volanesorsen) for familial chylomicronemia syndrome in certain markets.
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