Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Stock Has Consensus Target Price of $89.14

Key Points

• Analyst sentiment is moderately bullish: Ionis Pharmaceuticals has a consensus “Moderate Buy” rating from 23 analysts, with 18 buys, four holds, and one sell. The average 12-month price target is $89.14.
• Recent price targets were mixed but generally positive: Barclays lowered its target to $85, while Citigroup cut its target to $100; Needham and TD Cowen maintained buy ratings.
• IONS shares opened at $44.38, near the lower end of their $42.08–$86.74 52-week range. Institutional investors own 93.86% of the stock, while recent insider activity included a director purchase and an executive sale tied to tax withholding.

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty-three ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $89.14.

Several brokerages have recently weighed in on IONS. Barclays decreased their price objective on Ionis Pharmaceuticals from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, September 9th. Needham & Company LLC restated a "buy" rating and issued a $86.00 target price on shares of Ionis Pharmaceuticals in a research note on Friday, September 4th. Citigroup cut their target price on Ionis Pharmaceuticals from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, July 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ionis Pharmaceuticals in a research report on Thursday. Finally, TD Cowen reaffirmed a "buy" rating on shares of Ionis Pharmaceuticals in a research report on Tuesday, September 8th.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, EVP Shannon L. Devers sold 1,357 shares of Ionis Pharmaceuticals 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 directly owned 17,811 shares in the company, valued at approximately $775,490.94. The trade was a 7.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael R. Hayden bought 5,000 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $51.60 per share, for a total transaction of $258,000.00. Following the completion of the transaction, the director owned 24,000 shares in the company, valued at $1,238,400. This represents a 26.32% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.81% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. grew its holdings in Ionis Pharmaceuticals by 24.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 6,187 shares of the company's stock worth $276,000 after acquiring an additional 1,230 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Ionis Pharmaceuticals by 3.8% in the third quarter. Assenagon Asset Management S.A. now owns 42,486 shares of the company's stock worth $1,897,000 after acquiring an additional 1,559 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of Ionis Pharmaceuticals by 4,411.8% in the third quarter. Fortitude Family Office LLC now owns 767 shares of the company's stock worth $34,000 after acquiring an additional 750 shares during the last quarter. Avior Wealth Management LLC bought a new position in shares of Ionis Pharmaceuticals in the third quarter worth about $238,000. Finally, Versant Capital Management Inc raised its stake in shares of Ionis Pharmaceuticals by 37.0% in the third quarter. Versant Capital Management Inc now owns 2,000 shares of the company's stock worth $89,000 after acquiring an additional 540 shares during the last quarter. Institutional investors own 93.86% of the company's stock.

Ionis Pharmaceuticals Stock Up 3.4%

IONS stock opened at $44.38 on Tuesday. Ionis Pharmaceuticals has a twelve month low of $42.08 and a twelve month high of $86.74. The company has a quick ratio of 7.73, a current ratio of 7.89 and a debt-to-equity ratio of 3.07. The company has a market cap of $7.38 billion, a PE ratio of -12.83 and a beta of 0.38. The business's 50-day simple moving average is $51.50 and its 200 day simple moving average is $63.97.

About Ionis Pharmaceuticals

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.

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