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

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) has earned an average recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the stock, MarketBeat.com 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 assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $60.65.

IONS has been the topic of several research analyst reports. StockNews.com cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Guggenheim reduced their price objective on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, Piper Sandler reduced their price objective on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th.

Ionis Pharmaceuticals Trading Down 6.4 %

Ionis Pharmaceuticals stock opened at $32.69 on Wednesday. The company’s fifty day simple moving average is $36.15 and its 200-day simple moving average is $41.50. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86. Ionis Pharmaceuticals has a 12 month low of $32.61 and a 12 month high of $53.17. The stock has a market cap of $5.16 billion, a P/E ratio of -13.40 and a beta of 0.35.

Insider Transactions at Ionis Pharmaceuticals

In other news, CEO Brett P. Monia sold 6,630 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.05, for a total transaction of $252,271.50. Following the transaction, the chief executive officer now owns 167,393 shares in the company, valued at approximately $6,369,303.65. The trade was a 3.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Eric Swayze sold 1,194 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total transaction of $45,276.48. Following the transaction, the executive vice president now owns 33,713 shares in the company, valued at approximately $1,278,396.96. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Ionis Pharmaceuticals by 3.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,624 shares of the company’s stock worth $363,000 after purchasing an additional 261 shares during the period. Nicollet Investment Management Inc. increased its stake in Ionis Pharmaceuticals by 1.5% in the third quarter. Nicollet Investment Management Inc. now owns 20,402 shares of the company’s stock valued at $817,000 after acquiring an additional 294 shares during the period. Amalgamated Bank increased its stake in Ionis Pharmaceuticals by 3.1% in the third quarter. Amalgamated Bank now owns 9,957 shares of the company’s stock valued at $399,000 after acquiring an additional 300 shares during the period. GAMMA Investing LLC increased its stake in Ionis Pharmaceuticals by 83.9% in the third quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock valued at $27,000 after acquiring an additional 303 shares during the period. Finally, Itau Unibanco Holding S.A. increased its stake in Ionis Pharmaceuticals by 40.9% in the third quarter. Itau Unibanco Holding S.A. now owns 1,081 shares of the company’s stock valued at $43,000 after acquiring an additional 314 shares during the period. 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.