Ionis Pharmaceuticals (NASDAQ:IONS) Stock Price Target Lowered at Needham & Company LLC

Key Points

• Needham cut its Ionis price target from $86 to $54 but maintained a Buy rating; the new target implies 74.19% upside from the current share price.
• Ionis reported quarterly revenue of $242.7 million, up 54.8% year over year and above expectations, while its per-share loss was narrower than analysts had forecast.
• Shares fell sharply amid concerns over TRYNGOLZA’s slower launch: Ionis reduced its 2026 sales outlook for the drug to about $50 million from a previous $100 million–$110 million target. Overall 2026 revenue guidance of $875 million–$900 million was also below analysts’ consensus.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) had its target price dropped by investment analysts at Needham & Company LLC from $86.00 to $54.00 in a report released on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price objective would suggest a potential upside of 74.19% from the stock's current price.

A number of other brokerages have also commented on IONS. Wolfe Research lowered Ionis Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 16th. Citigroup reissued a "buy" rating on shares of Ionis Pharmaceuticals in a research report on Wednesday, October 21st. The Goldman Sachs Group reduced their price objective on shares of Ionis Pharmaceuticals from $69.00 to $56.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 8th. Royal Bank Of Canada dropped their target price on shares of Ionis Pharmaceuticals from $100.00 to $85.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Finally, Morgan Stanley dropped their target price on shares of Ionis Pharmaceuticals from $110.00 to $104.00 and set an "overweight" rating for the company in a research report on Tuesday, September 8th. Nineteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Ionis Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.33.

Ionis Pharmaceuticals Stock Down 21.4%

Shares of NASDAQ:IONS opened at $31.00 on Monday. The stock's 50-day moving average is $46.20 and its 200 day moving average is $65.63. The company has a market cap of $5.15 billion, a PE ratio of -8.96 and a beta of 0.43. The company has a debt-to-equity ratio of 3.07, a current ratio of 7.89 and a quick ratio of 7.73. Ionis Pharmaceuticals has a 1 year low of $27.75 and a 1 year high of $86.74.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last released its quarterly earnings data on Monday, November 9th. The company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($1.23) by $0.57. The business had revenue of $242.72 million during the quarter, compared to analysts' expectations of $178.17 million. Ionis Pharmaceuticals had a negative return on equity of 111.08% and a negative net margin of 64.76%. The business's revenue was up 54.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.80) EPS. Sell-side analysts anticipate that Ionis Pharmaceuticals will post -3.62 EPS for the current year.

Insider Transactions at Ionis Pharmaceuticals

In related news, EVP Shannon Devers sold 1,357 shares of the business'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 sale, the executive vice president owned 17,811 shares of the company's stock, valued at $775,490.94. The trade was a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.81% of the stock is currently owned by company insiders.

Institutional Trading of Ionis Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Cassaday & Co Wealth Management LLC bought a new position in Ionis Pharmaceuticals during the 1st quarter valued at approximately $30,000. Allworth Financial LP bought a new stake in Ionis Pharmaceuticals in the second quarter worth $41,000. Silvant Capital Management LLC purchased a new stake in shares of Ionis Pharmaceuticals in the second quarter worth $43,000. Archer Investment Corp purchased a new stake in shares of Ionis Pharmaceuticals in the second quarter worth $48,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Ionis Pharmaceuticals during the third quarter valued at $27,000. 93.86% of the stock is owned by institutional investors.

Key Stories Impacting Ionis Pharmaceuticals

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

• Positive Sentiment: Third-quarter revenue increased 54.8% year over year to $242.7 million, exceeding analysts’ expectations, while the $0.66-per-share loss was narrower than the $1.23 loss forecast. Read More.
• Positive Sentiment: DAWNZERA sales rose 40% to $37 million in the quarter, offering evidence of growth in another commercial product. Read More.
• Neutral Sentiment: Ionis issued 2026 total revenue guidance of $875 million to $900 million, below analysts’ $920.8 million consensus estimate; the company also reaffirmed its full-year guidance. Read More.
• Negative Sentiment: The main concern is TRYNGOLZA: Ionis cut its 2026 sales outlook to about $50 million, down from its prior $100 million–$110 million target, citing a slower launch. The sharp reduction raises doubts about the drug’s near-term commercial potential and overshadowed the earnings beat. Read More.

About Ionis Pharmaceuticals

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.

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