Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Receives $60.65 Consensus PT from Brokerages

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $60.65.

A number of analysts recently commented on the company. Guggenheim dropped their price objective on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Piper Sandler dropped their price objective on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price target on Ionis Pharmaceuticals from $33.00 to $37.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Finally, StockNews.com lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th.

Insiders Place Their Bets

In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 1,194 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total value of $45,276.48. Following the transaction, the executive vice president now directly owns 33,713 shares of the company’s stock, valued at $1,278,396.96. This represents a 3.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brett P. Monia sold 6,630 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total transaction of $252,271.50. Following the sale, the chief executive officer now directly owns 167,393 shares of the company’s stock, valued at $6,369,303.65. The trade was a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,197 shares of company stock worth $315,310 in the last 90 days. 2.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its stake in shares of Ionis Pharmaceuticals by 23.7% in the 1st quarter. SG Americas Securities LLC now owns 7,582 shares of the company’s stock valued at $329,000 after purchasing an additional 1,453 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Ionis Pharmaceuticals by 11.4% during the 1st quarter. ProShare Advisors LLC now owns 10,216 shares of the company’s stock worth $443,000 after buying an additional 1,049 shares during the last quarter. Blair William & Co. IL grew its position in shares of Ionis Pharmaceuticals by 67.4% in the 1st quarter. Blair William & Co. IL now owns 27,838 shares of the company’s stock worth $1,207,000 after acquiring an additional 11,210 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Ionis Pharmaceuticals in the 1st quarter valued at approximately $255,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Ionis Pharmaceuticals during the 1st quarter valued at approximately $765,000. 93.86% of the stock is currently owned by institutional investors.

Ionis Pharmaceuticals Trading Up 4.3 %

Ionis Pharmaceuticals stock opened at $35.46 on Tuesday. The stock has a market cap of $5.60 billion, a PE ratio of -14.53 and a beta of 0.39. The stock has a 50-day moving average price of $38.70 and a 200 day moving average price of $42.49. Ionis Pharmaceuticals has a 52 week low of $33.33 and a 52 week high of $54.44. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86.

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.