Brokerages Set Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) PT at $56.67

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $56.67.

Several equities research analysts recently issued reports on the stock. Needham & Company LLC dropped their price target on shares of Ionis Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. BMO Capital Markets lowered their price objective on shares of Ionis Pharmaceuticals from $60.00 to $45.00 and set a "market perform" rating for the company in a research report on Thursday, February 20th. JPMorgan Chase & Co. lowered their price objective on shares of Ionis Pharmaceuticals from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. HC Wainwright boosted their target price on shares of Ionis Pharmaceuticals from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Citigroup reduced their price target on shares of Ionis Pharmaceuticals from $67.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, February 20th.

Ionis Pharmaceuticals Trading Up 1.2%

Shares of IONS traded up $0.39 during mid-day trading on Tuesday, reaching $32.99. The company had a trading volume of 1,113,561 shares, compared to its average volume of 1,565,830. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of -10.85 and a beta of 0.15. The firm has a fifty day simple moving average of $30.54 and a 200-day simple moving average of $33.29. Ionis Pharmaceuticals has a fifty-two week low of $23.95 and a fifty-two week high of $52.34. The company has a current ratio of 8.47, a quick ratio of 8.82 and a debt-to-equity ratio of 2.12.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported ($0.93) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.14. The business had revenue of $132.00 million for the quarter, compared to analyst estimates of $144.31 million. Ionis Pharmaceuticals had a negative net margin of 64.25% and a negative return on equity of 100.05%. The business's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.98) EPS. On average, sell-side analysts anticipate that Ionis Pharmaceuticals will post -3.5 EPS for the current fiscal year.

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, Director Michael R. Hayden bought 15,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was bought at an average cost of $31.86 per share, with a total value of $477,900.00. Following the completion of the transaction, the director now directly owns 50,219 shares of the company's stock, valued at approximately $1,599,977.34. The trade was a 42.59% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick R. O'neil sold 1,207 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $32.35, for a total transaction of $39,046.45. Following the sale, the executive vice president now directly owns 56,245 shares of the company's stock, valued at approximately $1,819,525.75. This represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,027 shares of company stock worth $62,863. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Ionis Pharmaceuticals

Several large investors have recently modified their holdings of IONS. Assenagon Asset Management S.A. boosted its holdings in shares of Ionis Pharmaceuticals by 967.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 141,917 shares of the company's stock worth $4,961,000 after buying an additional 128,619 shares during the period. SG Americas Securities LLC lifted its holdings in Ionis Pharmaceuticals by 222.5% during the 4th quarter. SG Americas Securities LLC now owns 23,927 shares of the company's stock valued at $836,000 after purchasing an additional 16,508 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Ionis Pharmaceuticals by 19.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,480 shares of the company's stock valued at $1,170,000 after purchasing an additional 5,359 shares during the last quarter. abrdn plc increased its position in Ionis Pharmaceuticals by 32.4% in the 4th quarter. abrdn plc now owns 401,501 shares of the company's stock valued at $14,028,000 after acquiring an additional 98,227 shares in the last quarter. Finally, Sovran Advisors LLC acquired a new stake in Ionis Pharmaceuticals in the 4th quarter valued at about $5,617,000. 93.86% of the stock is owned by institutional investors.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.