Ionis Pharmaceuticals, Inc. (IONS) – What Are Brokerages Thinking About This Stock?

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) have been given a consensus recommendation of “Moderate Buy” by the twenty-three research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $89.14.

IONS has been the subject of several research reports. Wells Fargo & Company lowered their target price on Ionis Pharmaceuticals from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Citigroup cut their price target on Ionis Pharmaceuticals from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $86.00 price target on shares of Ionis Pharmaceuticals in a research note on Friday, September 4th. The Goldman Sachs Group decreased their price target on Ionis Pharmaceuticals from $69.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, September 8th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $84.00 price target on shares of Ionis Pharmaceuticals in a report on Tuesday, September 8th.

Insider Transactions at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Shannon Devers sold 1,357 shares of the company’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $43.54, for a total transaction of $59,083.78. Following the transaction, the executive vice president directly owned 17,811 shares in the company, valued at approximately $775,490.94. This represents a 7.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Hayden bought 15,000 shares of Ionis Pharmaceuticals stock in a transaction dated Thursday, July 30th. The stock was acquired at an average cost of $53.38 per share, for a total transaction of $800,700.00. Following the purchase, the director directly owned 19,000 shares in the company, valued at approximately $1,014,220. The trade was a 375.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.81% of the company’s stock.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Large investors have recently bought and sold shares of the business. Cassaday & Co Wealth Management LLC acquired a new stake in Ionis Pharmaceuticals during the 1st quarter worth $30,000. Allworth Financial LP bought a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter valued at $41,000. Silvant Capital Management LLC bought a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter valued at $43,000. Archer Investment Corp bought a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter valued at $48,000. Finally, Fortitude Family Office LLC lifted its stake in shares of Ionis Pharmaceuticals by 4,411.8% in the 3rd quarter. Fortitude Family Office LLC now owns 767 shares of the company’s stock valued at $34,000 after purchasing an additional 750 shares during the period. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Ionis Pharmaceuticals Stock Up 3.4%

NASDAQ:IONS opened at $44.38 on Tuesday. The stock’s fifty day moving average price is $51.50 and its two-hundred day moving average price is $63.97. Ionis Pharmaceuticals has a 52-week low of $42.08 and a 52-week high of $86.74. The company has a debt-to-equity ratio of 3.07, a quick ratio of 7.73 and a current ratio of 7.89. The company has a market cap of $7.38 billion, a price-to-earnings ratio of -12.83 and a beta of 0.38.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on discovering and developing medicines using antisense technology. Its platform is designed to selectively target RNA and regulate the production of disease-related proteins. The company develops therapies for neurological, cardiovascular and metabolic, and rare diseases.

Ionis has developed and commercialized medicines both independently and through collaborations with larger pharmaceutical companies. Its marketed or partnered products include Spinraza (nusinersen) for spinal muscular atrophy, Tegsedi (inotersen) and Wainua (eplontersen) for hereditary transthyretin amyloidosis, and Tryngolza (olezarsen) for familial chylomicronemia syndrome.