Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Given Consensus Rating of “Moderate Buy” by Analysts

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) has received a consensus rating of “Moderate Buy” from the twenty-one analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $100.90.

Several brokerages recently issued reports on IONS. Citigroup started coverage on Ionis Pharmaceuticals in a report on Monday, May 18th. They issued a “buy” rating and a $115.00 price target for the company. Piper Sandler upped their target price on Ionis Pharmaceuticals from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Royal Bank Of Canada increased their target price on Ionis Pharmaceuticals from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Bank of America raised their target price on Ionis Pharmaceuticals from $100.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Finally, Wall Street Zen upgraded Ionis Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Saturday, May 2nd.

Ionis Pharmaceuticals Stock Performance

NASDAQ IONS opened at $76.50 on Friday. The company has a debt-to-equity ratio of 2.75, a current ratio of 4.10 and a quick ratio of 4.09. Ionis Pharmaceuticals has a 1-year low of $32.00 and a 1-year high of $86.74. The firm has a market capitalization of $12.64 billion, a P/E ratio of -36.96 and a beta of 0.38. The business’s 50-day simple moving average is $74.62 and its 200-day simple moving average is $77.67.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.29. Ionis Pharmaceuticals had a negative net margin of 30.91% and a negative return on equity of 58.65%. The firm had revenue of $246.09 million during the quarter, compared to the consensus estimate of $195.57 million. During the same quarter in the prior year, the company earned ($0.93) EPS. The company’s revenue was up 86.4% on a year-over-year basis. Equities analysts predict that Ionis Pharmaceuticals will post -3.76 EPS for the current year.

Insider Buying and Selling at Ionis Pharmaceuticals

In related news, EVP Shannon L. Devers sold 6,193 shares of Ionis Pharmaceuticals stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $74.05, for a total transaction of $458,591.65. Following the sale, the executive vice president owned 16,348 shares of the company’s stock, valued at $1,210,569.40. The trade was a 27.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Eugene Schneider sold 5,812 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $70.97, for a total transaction of $412,477.64. Following the completion of the transaction, the executive vice president owned 63,890 shares in the company, valued at $4,534,273.30. This represents a 8.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 616,371 shares of company stock worth $46,406,452. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in IONS. Golden State Wealth Management LLC raised its holdings in Ionis Pharmaceuticals by 198.4% in the third quarter. Golden State Wealth Management LLC now owns 376 shares of the company’s stock valued at $25,000 after acquiring an additional 250 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Ionis Pharmaceuticals in the 4th quarter worth about $27,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ionis Pharmaceuticals in the 1st quarter worth about $30,000. Quarry LP acquired a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter valued at about $38,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter valued at about $44,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.