Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately bullish: Twenty-two analysts give Ionis Pharmaceuticals an average “Moderate Buy” rating, including 17 buys, four holds and one sell. The average 12-month price target is $94.15 versus the stock’s reported price of $61.05.
• Quarterly results beat expectations but remained weak year over year: Ionis reported a loss of $0.69 per share, better than the expected $1.08 loss, and revenue of $267.95 million, above the $189.10 million estimate. However, revenue declined 40.7% year over year and analysts expect a full-year loss of $3.57 per share.
• Institutional ownership remains high while insider activity is mixed: Institutional investors hold 93.86% of the stock, with several funds increasing their positions. A director bought $800,700 worth of shares, but insiders collectively sold approximately $17.7 million of stock over the prior 90 days.

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty-two ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seventeen have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $94.15.

IONS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Ionis Pharmaceuticals from $72.00 to $76.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Wolfe Research restated a "peer perform" rating on shares of Ionis Pharmaceuticals in a research report on Thursday, July 16th. Citigroup lowered their target price 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. Canaccord Genuity Group decreased their price target on shares of Ionis Pharmaceuticals from $110.00 to $95.00 and set a "buy" rating for the company in a report on Friday, July 10th. Finally, TD Cowen reaffirmed a "buy" rating and set a $108.00 price objective on shares of Ionis Pharmaceuticals in a research report on Monday, June 15th.

Ionis Pharmaceuticals Stock Performance

Ionis Pharmaceuticals stock opened at $61.05 on Monday. The company has a 50 day moving average price of $63.05 and a 200 day moving average price of $71.29. Ionis Pharmaceuticals has a 52 week low of $42.13 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 firm has a market capitalization of $10.15 billion, a price-to-earnings ratio of -17.64 and a beta of 0.41.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.08) by $0.39. The company had revenue of $267.95 million for the quarter, compared to the consensus estimate of $189.10 million. Ionis Pharmaceuticals had a negative net margin of 64.76% and a negative return on equity of 111.08%. The company's revenue was down 40.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 EPS. Research analysts forecast that Ionis Pharmaceuticals will post -3.57 EPS for the current year.

Insider Buying and Selling at Ionis Pharmaceuticals

In related news, Director Michael R. Hayden purchased 15,000 shares of the company's stock in a transaction dated Thursday, July 30th. The shares were acquired at an average cost of $53.38 per share, with a total value of $800,700.00. Following the completion of the purchase, the director owned 19,000 shares of the company's stock, valued at $1,014,220. The trade was a 375.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eugene Schneider sold 26,000 shares of Ionis Pharmaceuticals stock in a transaction on Friday, June 26th. The shares were sold at an average price of $81.05, for a total value of $2,107,300.00. Following the sale, the executive vice president directly owned 77,114 shares of the company's stock, valued at approximately $6,250,089.70. The trade was a 25.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 225,163 shares of company stock worth $17,711,191 over the last 90 days. 1.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IONS. Goldman Sachs Group Inc. lifted its position in shares of Ionis Pharmaceuticals by 72.5% in the first quarter. Goldman Sachs Group Inc. now owns 652,518 shares of the company's stock worth $19,686,000 after buying an additional 274,310 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Ionis Pharmaceuticals by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 659,435 shares of the company's stock worth $19,895,000 after purchasing an additional 39,794 shares during the period. Focus Partners Wealth raised its holdings in Ionis Pharmaceuticals by 30.1% in the 1st quarter. Focus Partners Wealth now owns 9,832 shares of the company's stock valued at $297,000 after acquiring an additional 2,277 shares in the last quarter. Franklin Resources Inc. bought a new position in Ionis Pharmaceuticals in the second quarter worth $220,000. Finally, Prudential Financial Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 47.8% during the 2nd quarter. Prudential Financial Inc. now owns 9,254 shares of the company's stock worth $341,000 after acquiring an additional 2,991 shares during the period. Institutional investors and hedge funds own 93.86% of the company's stock.

Ionis Pharmaceuticals Company Profile

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.

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