Ionis Pharmaceuticals (NASDAQ:IONS) Given New $49.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for Ionis Pharmaceuticals from $48.00 to $49.00, suggesting a potential upside of 15.57% from the current stock price.
• Ionis Pharmaceuticals reported a quarterly earnings per share of $0.70, significantly exceeding analysts' expectations of $0.19, and its revenue for the quarter was $452 million, doubling year-over-year.
• Currently, Ionis has a consensus rating of "Moderate Buy" from analysts, with ten looking favorably at the stock and a varied range of price targets from other firms including Piper Sandler and Wells Fargo.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) had its price target increased by research analysts at JPMorgan Chase & Co. from $48.00 to $49.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 15.57% from the company's current price.

A number of other research analysts have also recently weighed in on the company. Piper Sandler lifted their price objective on Ionis Pharmaceuticals from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday. Guggenheim lowered their price objective on Ionis Pharmaceuticals from $65.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Barclays lifted their price objective on Ionis Pharmaceuticals from $57.00 to $58.00 and gave the company an "overweight" rating in a research report on Friday. Wall Street Zen raised Ionis Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, Wells Fargo & Company lifted their price objective on Ionis Pharmaceuticals from $77.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $60.92.

Ionis Pharmaceuticals Stock Performance

NASDAQ:IONS traded down $0.29 on Monday, hitting $42.40. The stock had a trading volume of 153,261 shares, compared to its average volume of 1,756,158. Ionis Pharmaceuticals has a 52-week low of $23.95 and a 52-week high of $50.43. The company has a quick ratio of 2.86, a current ratio of 2.87 and a debt-to-equity ratio of 0.99. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of -23.11 and a beta of 0.25. The business's 50-day simple moving average is $41.38 and its two-hundred day simple moving average is $35.14.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.51. Ionis Pharmaceuticals had a negative return on equity of 45.29% and a negative net margin of 28.25%.The firm had revenue of $452.00 million for the quarter, compared to analysts' expectations of $270.90 million. During the same period in the previous year, the firm earned ($0.45) EPS. The business's quarterly revenue was up 100.9% on a year-over-year basis. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, research analysts predict that Ionis Pharmaceuticals will post -3.5 earnings per share for the current year.

Insiders Place Their Bets

In other Ionis Pharmaceuticals news, Director B Lynne Parshall sold 5,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $41.93, for a total value of $209,650.00. Following the sale, the director owned 86,344 shares of the company's stock, valued at $3,620,403.92. The trade was a 5.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP C Frank Bennett sold 10,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $43.98, for a total value of $439,800.00. Following the completion of the sale, the executive vice president directly owned 93,466 shares in the company, valued at approximately $4,110,634.68. The trade was a 9.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,141 shares of company stock worth $1,644,606. Insiders own 2.71% of the company's stock.

Institutional Trading of Ionis Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Marex Group plc bought a new position in shares of Ionis Pharmaceuticals during the 2nd quarter valued at approximately $3,294,000. CANADA LIFE ASSURANCE Co boosted its stake in Ionis Pharmaceuticals by 6.0% during the second quarter. CANADA LIFE ASSURANCE Co now owns 46,501 shares of the company's stock worth $1,841,000 after buying an additional 2,648 shares during the period. Corient Private Wealth LLC boosted its stake in Ionis Pharmaceuticals by 0.3% during the second quarter. Corient Private Wealth LLC now owns 237,931 shares of the company's stock worth $9,401,000 after buying an additional 798 shares during the period. Vestal Point Capital LP purchased a new position in Ionis Pharmaceuticals during the second quarter worth $19,755,000. Finally, Vident Advisory LLC purchased a new position in Ionis Pharmaceuticals during the second quarter worth $474,000. Institutional investors own 93.86% of the company's stock.

Ionis Pharmaceuticals Company Profile

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.

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