Ionis Pharmaceuticals (NASDAQ:IONS) Price Target Raised to $99.00

Ionis Pharmaceuticals (NASDAQ:IONS) had its price target lifted by TD Cowen from $59.00 to $99.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently commented on IONS. Raymond James Financial reiterated a “strong-buy” rating and set a $89.00 price target (up previously from $85.00) on shares of Ionis Pharmaceuticals in a research report on Thursday. HC Wainwright lifted their price objective on shares of Ionis Pharmaceuticals from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets raised shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $40.00 to $70.00 in a research note on Wednesday, September 3rd. Piper Sandler lifted their price objective on shares of Ionis Pharmaceuticals from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of Ionis Pharmaceuticals from $77.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.05.

Ionis Pharmaceuticals Stock Up 0.2%

Shares of NASDAQ:IONS opened at $74.30 on Thursday. Ionis Pharmaceuticals has a one year low of $23.95 and a one year high of $75.49. The company has a 50 day moving average of $63.97 and a 200-day moving average of $46.65. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.87 and a quick ratio of 2.86. The stock has a market cap of $11.84 billion, a price-to-earnings ratio of -43.96 and a beta of 0.33.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, October 29th. The company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($1.15) by $0.35. Ionis Pharmaceuticals had a negative net margin of 26.45% and a negative return on equity of 45.29%. The company had revenue of $157.00 million during the quarter, compared to analysts’ expectations of $131.75 million. During the same quarter in the previous year, the company earned ($0.95) EPS. Ionis Pharmaceuticals’s revenue was up 17.2% on a year-over-year basis. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Ionis Pharmaceuticals will post -3.5 earnings per share for the current year.

Insider Transactions at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Patrick R. O’neil sold 76,850 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $60.97, for a total value of $4,685,544.50. Following the transaction, the executive vice president owned 5,655 shares of the company’s stock, valued at approximately $344,785.35. The trade was a 93.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brett P. Monia sold 203,814 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $60.32, for a total transaction of $12,294,060.48. Following the completion of the transaction, the chief executive officer directly owned 180,009 shares in the company, valued at approximately $10,858,142.88. The trade was a 53.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 787,770 shares of company stock valued at $48,429,221. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IONS. Teacher Retirement System of Texas lifted its stake in Ionis Pharmaceuticals by 660.7% in the first quarter. Teacher Retirement System of Texas now owns 500,451 shares of the company’s stock valued at $15,099,000 after buying an additional 434,659 shares in the last quarter. GF Fund Management CO. LTD. lifted its position in shares of Ionis Pharmaceuticals by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 4,042 shares of the company’s stock worth $122,000 after purchasing an additional 727 shares in the last quarter. Significant Wealth Partners LLC lifted its position in shares of Ionis Pharmaceuticals by 24.8% in the first quarter. Significant Wealth Partners LLC now owns 13,605 shares of the company’s stock worth $410,000 after purchasing an additional 2,700 shares in the last quarter. Xponance Inc. lifted its position in shares of Ionis Pharmaceuticals by 5.1% in the first quarter. Xponance Inc. now owns 20,319 shares of the company’s stock worth $613,000 after purchasing an additional 980 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Ionis Pharmaceuticals by 18.7% in the first quarter. CWM LLC now owns 2,435 shares of the company’s stock worth $73,000 after purchasing an additional 384 shares in the last quarter. Institutional investors own 93.86% of the company’s stock.

About Ionis Pharmaceuticals

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.