Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Receives $60.65 Consensus Target Price from Brokerages

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $60.65.

Several analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday. StockNews.com cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Piper Sandler reduced their price target on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Wells Fargo & Company lowered 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 report on Thursday, November 7th. Finally, Guggenheim cut their target price on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th.

Ionis Pharmaceuticals Stock Up 0.1 %

NASDAQ IONS opened at $35.63 on Friday. The business has a fifty day moving average price of $37.44 and a two-hundred day moving average price of $42.28. The stock has a market capitalization of $5.63 billion, a PE ratio of -14.60 and a beta of 0.35. Ionis Pharmaceuticals has a fifty-two week low of $33.33 and a fifty-two week high of $54.44. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82.

Insider Buying and Selling

In related news, EVP Eric Swayze sold 1,194 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $37.92, for a total value of $45,276.48. Following the transaction, the executive vice president now owns 33,713 shares in the company, valued at $1,278,396.96. The trade was a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brett P. Monia sold 6,630 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total value of $252,271.50. Following the sale, the chief executive officer now owns 167,393 shares of the company’s stock, valued at approximately $6,369,303.65. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,877 shares of company stock valued at $299,578 over the last ninety days. 2.71% of the stock is owned by company insiders.

Institutional Trading of Ionis Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Ionis Pharmaceuticals by 7.4% in the third quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock worth $106,922,000 after purchasing an additional 183,814 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Ionis Pharmaceuticals by 8.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company’s stock worth $57,807,000 after purchasing an additional 114,914 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Ionis Pharmaceuticals by 1.7% in the 3rd quarter. ARK Investment Management LLC now owns 1,384,269 shares of the company’s stock valued at $55,454,000 after buying an additional 23,244 shares during the period. Two Sigma Advisers LP increased its position in Ionis Pharmaceuticals by 3.5% in the 3rd quarter. Two Sigma Advisers LP now owns 1,332,411 shares of the company’s stock valued at $53,376,000 after buying an additional 45,300 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in Ionis Pharmaceuticals by 6.1% during the 2nd quarter. TD Asset Management Inc now owns 952,762 shares of the company’s stock worth $45,409,000 after buying an additional 54,400 shares during the period. Institutional investors own 93.86% of the company’s stock.

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.