Ionis Pharmaceuticals (NASDAQ:IONS) Price Target Cut to $95.00 by Analysts at Canaccord Genuity Group

Key Points

• Canaccord Genuity lowered its price target on Ionis Pharmaceuticals to $95 from $110, while keeping a Buy rating. The new target still implies about 47.8% upside from the prior close.
• Ionis shares were trading down sharply, with the stock opening at $64.27 and recently falling 23.9%. The company’s latest results beat expectations on both earnings and revenue, but it still reported a loss and remains unprofitable.
• Recent sentiment has been pressured by clinical setbacks, including a Phase 3 trial miss for eplontersen and a Reuters-reported failure of an AstraZeneca-Ionis heart drug to meet its main goal. Several insiders also sold shares, adding to the cautious outlook.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) had its price objective cut by Canaccord Genuity Group from $110.00 to $95.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 47.81% from the stock's previous close.

IONS has been the subject of several other research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 21st. Royal Bank Of Canada raised their price target on shares of Ionis Pharmaceuticals from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Bank of America lifted their price target on shares of Ionis Pharmaceuticals from $100.00 to $111.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Needham & Company LLC cut their price objective on shares of Ionis Pharmaceuticals from $105.00 to $86.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Jefferies Financial Group reduced their price objective on shares of Ionis Pharmaceuticals from $113.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday. Eighteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ionis Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.05.

Ionis Pharmaceuticals Trading Down 23.9%

Shares of IONS opened at $64.27 on Friday. The company has a debt-to-equity ratio of 2.75, a current ratio of 4.10 and a quick ratio of 4.09. Ionis Pharmaceuticals has a 1-year low of $40.03 and a 1-year high of $86.74. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of -31.05 and a beta of 0.36. The firm has a 50 day simple moving average of $76.12 and a 200-day simple moving average of $77.41.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, topping analysts' consensus estimates of ($0.85) by $0.29. The company had revenue of $246.09 million during the quarter, compared to analysts' expectations of $195.56 million. Ionis Pharmaceuticals had a negative return on equity of 58.65% and a negative net margin of 30.91%.The business's revenue for the quarter was up 86.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.93) earnings per share. Equities analysts forecast that Ionis Pharmaceuticals will post -3.69 EPS for the current fiscal year.

Insider Activity

In other Ionis Pharmaceuticals news, EVP C Frank Bennett sold 5,536 shares of the business's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $83.58, for a total transaction of $462,698.88. Following the completion of the sale, the executive vice president owned 75,018 shares of the company's stock, valued at approximately $6,270,004.44. The trade was a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett P. Monia sold 50,000 shares of the company's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.59, for a total value of $4,029,500.00. Following the sale, the chief executive officer owned 245,571 shares of the company's stock, valued at $19,790,566.89. This represents a 16.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 244,038 shares of company stock valued at $19,139,399 in the last 90 days. 1.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Brown Brothers Harriman & Co. purchased a new stake in Ionis Pharmaceuticals during the fourth quarter worth approximately $27,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Ionis Pharmaceuticals in the 1st quarter valued at $30,000. Quarry LP purchased a new position in shares of Ionis Pharmaceuticals in the 3rd quarter valued at $38,000. Johnson Financial Group Inc. acquired a new position in shares of Ionis Pharmaceuticals during the 3rd quarter valued at $44,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Ionis Pharmaceuticals during the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 93.86% of the company's stock.

Ionis Pharmaceuticals News Roundup

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

• Negative Sentiment: The Phase 3 CARDIO-TTRansform trial missed its primary endpoint, hurting expectations for Ionis’ cardiovascular franchise and future revenue potential. Article Title
• Negative Sentiment: Reuters reported the AstraZeneca-Ionis heart drug failed to reduce cardiovascular deaths and recurring events, confirming the clinical setback. Article Title
• Negative Sentiment: Unusually heavy put-option activity suggests traders are positioning for more downside after the trial miss.
• Negative Sentiment: Multiple insiders sold shares under pre-arranged 10b5-1 plans, including EVP Holly Kordasiewicz, EVP C. Frank Bennett, and Director Allene M. Diaz, which may weigh on sentiment.
• Negative Sentiment: Needham cut its price target to $86 from $105, signaling a more cautious valuation outlook despite maintaining a Buy rating. Article Title
• Neutral Sentiment: Ionis raised FY2026 revenue guidance to $875 million-$900 million, which is broadly in line with consensus and helps offset some of the negative clinical news.

About Ionis Pharmaceuticals

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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