Ionis Pharmaceuticals (NASDAQ:IONS) Sets New 1-Year High - Still a Buy?

Key Points

• Ionis Pharmaceuticals reached a new 52-week high of $63.10, with a significant trading volume of 235,423 shares.
• Analysts largely hold a positive outlook on the stock, with ratings varying from "Strong Buy" to "Sell," and an average price target of $67.88.
• Recent insider trading showed significant share sales by executives, indicating potential concerns or profit-taking at current price levels.

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $63.10 and last traded at $62.86, with a volume of 235423 shares trading hands. The stock had previously closed at $61.00.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley upgraded Ionis Pharmaceuticals from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $55.00 to $62.00 in a report on Thursday, July 31st. Raymond James Financial lifted their price objective on Ionis Pharmaceuticals from $60.00 to $64.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. The Goldman Sachs Group boosted their target price on shares of Ionis Pharmaceuticals from $40.00 to $45.00 and gave the stock a "sell" rating in a report on Wednesday, September 3rd. Royal Bank Of Canada boosted their target price on shares of Ionis Pharmaceuticals from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Finally, Wells Fargo & Company upped their price objective on shares of Ionis Pharmaceuticals from $77.00 to $82.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $67.88.

Ionis Pharmaceuticals Trading Up 3.2%

The stock has a 50-day moving average of $44.08 and a 200 day moving average of $36.60. The stock has a market cap of $10.03 billion, a PE ratio of -34.14 and a beta of 0.28. The company has a quick ratio of 2.86, a current ratio of 2.87 and a debt-to-equity ratio of 0.99.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate 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 business had revenue of $452.00 million for the quarter, compared to analyst estimates of $270.90 million. During the same quarter in the prior year, the firm posted ($0.45) EPS. The business's quarterly revenue was up 100.9% compared to the same quarter last year. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current year.

Insiders Place Their Bets

In other Ionis Pharmaceuticals news, EVP C Frank Bennett sold 33,909 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $60.62, for a total value of $2,055,563.58. Following the sale, the executive vice president owned 101,570 shares in the company, valued at approximately $6,157,173.40. This represents a 25.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Brett P. Monia sold 203,814 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $60.32, for a total value of $12,294,060.48. Following the completion of the sale, the chief executive officer owned 180,009 shares in the company, valued at approximately $10,858,142.88. This represents a 53.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 464,141 shares of company stock worth $26,772,779. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IONS. CWM LLC grew its stake in shares of Ionis Pharmaceuticals by 18.7% in the first quarter. CWM LLC now owns 2,435 shares of the company's stock valued at $73,000 after buying an additional 384 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Ionis Pharmaceuticals by 3.9% in the second quarter. PNC Financial Services Group Inc. now owns 11,411 shares of the company's stock valued at $451,000 after buying an additional 424 shares in the last quarter. Signaturefd LLC grew its stake in shares of Ionis Pharmaceuticals by 45.6% in the first quarter. Signaturefd LLC now owns 1,382 shares of the company's stock valued at $42,000 after buying an additional 433 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Ionis Pharmaceuticals by 4.8% in the first quarter. Fifth Third Bancorp now owns 9,989 shares of the company's stock valued at $301,000 after buying an additional 458 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Ionis Pharmaceuticals by 8.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,135 shares of the company's stock valued at $185,000 after buying an additional 481 shares in the last quarter. 93.86% of the stock is owned by institutional investors and hedge funds.

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.

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