Ionis Pharmaceuticals (NASDAQ:IONS) Given New $75.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley cut its Ionis price target to $75 from $104 but maintained an Overweight rating; the new target implies 158.44% upside from the prior close.
• Ionis shares fell 6.4% to $29.02. Other analysts also lowered targets, though the consensus rating remained Moderate Buy, with an average target of $78.71.
• Third-quarter revenue rose 54.8% year over year to $242.72 million and the loss per share was narrower than expected. However, the company lowered its TRYNGOLZA sales outlook and issued 2026 revenue guidance below analyst consensus.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) had its target price reduced by investment analysts at Morgan Stanley from $104.00 to $75.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price objective would suggest a potential upside of 158.44% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. Barclays decreased their price target on shares of Ionis Pharmaceuticals from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, September 9th. HC Wainwright cut their price objective on Ionis Pharmaceuticals from $100.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday. UBS Group initiated coverage on Ionis Pharmaceuticals in a research report on Thursday, October 15th. They set a "buy" rating and a $88.00 price objective on the stock. Needham & Company LLC reduced their target price on Ionis Pharmaceuticals from $86.00 to $54.00 and set a "buy" rating on the stock in a report on Monday. Finally, Guggenheim decreased their target price on Ionis Pharmaceuticals from $89.00 to $80.00 and set a "buy" rating for the company in a research report on Tuesday, September 15th. Nineteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $78.71.

Ionis Pharmaceuticals Trading Down 6.4%

NASDAQ:IONS traded down $1.98 during trading hours on Tuesday, hitting $29.02. The company had a trading volume of 2,293,831 shares, compared to its average volume of 2,744,755. The company has a debt-to-equity ratio of 3.07, a current ratio of 7.89 and a quick ratio of 7.73. The stock has a 50-day moving average price of $46.20 and a 200 day moving average price of $65.63. The company has a market capitalization of $4.82 billion, a PE ratio of -8.39 and a beta of 0.43. Ionis Pharmaceuticals has a 52 week low of $27.75 and a 52 week high of $86.74.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its quarterly earnings data on Monday, November 9th. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($1.23) by $0.57. Ionis Pharmaceuticals had a negative net margin of 64.76% and a negative return on equity of 111.08%. The business had revenue of $242.72 million during the quarter, compared to analyst estimates of $178.17 million. During the same period in the prior year, the business earned ($0.80) EPS. The company's revenue for the quarter was up 54.8% on a year-over-year basis. On average, equities research analysts predict that Ionis Pharmaceuticals will post -3.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Shannon Devers sold 1,357 shares of the stock in a transaction that occurred on 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 owned 17,811 shares in the company, valued at $775,490.94. This represents a 7.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.81% of the company's stock.

Institutional Trading of Ionis Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Edgestream Partners L.P. acquired a new stake in Ionis Pharmaceuticals in the 3rd quarter worth about $807,000. Ground Swell Capital LLC acquired a new position in shares of Ionis Pharmaceuticals during the third quarter valued at approximately $547,000. Allworth Financial LP raised its holdings in shares of Ionis Pharmaceuticals by 79.8% during the third quarter. Allworth Financial LP now owns 928 shares of the company's stock valued at $41,000 after acquiring an additional 412 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Ionis Pharmaceuticals by 33.4% during the third quarter. Fisher Asset Management LLC now owns 182,997 shares of the company's stock valued at $8,171,000 after acquiring an additional 45,813 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Ionis Pharmaceuticals by 110.0% in the third quarter. Russell Investments Group Ltd. now owns 170,799 shares of the company's stock valued at $7,773,000 after acquiring an additional 89,480 shares in the last quarter. 93.86% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Ionis Pharmaceuticals

Here are the key news stories impacting Ionis Pharmaceuticals this week:

• Positive Sentiment: Ionis reported third-quarter revenue of about $243 million, up roughly 55% year over year and above expectations. Its quarterly loss was also narrower than analysts had forecast. Read More.
• Positive Sentiment: DAWNZERA sales grew 40% to $37 million, providing a positive commercial update amid weakness in TRYNGOLZA’s launch. Read More.
• Negative Sentiment: Ionis cut its 2026 TRYNGOLZA sales outlook to approximately $50 million, down from its prior $100 million–$110 million target. The company cited slower-than-expected uptake and competitive pressure, undermining expectations for the drug’s commercial potential. Read More.
• Negative Sentiment: Ionis guided to 2026 revenue of $875 million–$900 million, below the roughly $921 million consensus estimate, adding to concerns about near-term growth. Read More.
• Negative Sentiment: Law firms announced investigations into potential investor claims related to Ionis, adding a legal overhang following the sales forecast reduction. These announcements concern potential claims and do not establish wrongdoing. Read More.
• Negative Sentiment: HC Wainwright and Needham lowered their price targets to $70 and $54, respectively, although both maintained Buy ratings. Read More. · Read More.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals is a biotechnology company that discovers and develops RNA-targeted medicines, with a focus on antisense oligonucleotides. Its medicines are designed to act on RNA and change the production of proteins linked to disease. The company's research and development programs span neurological, cardiovascular, metabolic and rare diseases.

Ionis has developed medicines that it commercializes itself and products advanced or marketed with pharmaceutical partners. Its medicines and partnered products include treatments for conditions such as spinal muscular atrophy and transthyretin amyloidosis.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.