Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONSGet Free Report) have been assigned an average rating of “Moderate Buy” from the fourteen research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $59.54.

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Ionis Pharmaceuticals from $85.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. StockNews.com upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Oppenheimer boosted their price target on Ionis Pharmaceuticals from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Finally, Piper Sandler raised their price objective on Ionis Pharmaceuticals from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd.

View Our Latest Stock Report on Ionis Pharmaceuticals

Insider Activity

In other Ionis Pharmaceuticals news, Director Joseph Klein III sold 6,000 shares of Ionis Pharmaceuticals stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $42.71, for a total transaction of $256,260.00. Following the transaction, the director now directly owns 16,346 shares of the company’s stock, valued at approximately $698,137.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Joseph Baroldi sold 4,006 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total value of $166,649.60. Following the completion of the transaction, the executive vice president now directly owns 19,631 shares of the company’s stock, valued at approximately $816,649.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Klein III sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $42.71, for a total transaction of $256,260.00. Following the sale, the director now directly owns 16,346 shares of the company’s stock, valued at approximately $698,137.66. The disclosure for this sale can be found here. Insiders own 2.71% of the company’s stock.

Institutional Trading of Ionis Pharmaceuticals

Large investors have recently made changes to their positions in the company. HealthInvest Partners AB purchased a new stake in Ionis Pharmaceuticals in the 4th quarter valued at $1,226,000. First Turn Management LLC purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth $18,044,000. Charles Schwab Investment Management Inc. lifted its position in shares of Ionis Pharmaceuticals by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,242,307 shares of the company’s stock worth $56,351,000 after acquiring an additional 43,087 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in Ionis Pharmaceuticals during the 4th quarter worth about $3,158,000. Finally, Nicola Wealth Management LTD. boosted its stake in Ionis Pharmaceuticals by 86.7% in the 4th quarter. Nicola Wealth Management LTD. now owns 56,000 shares of the company’s stock worth $2,833,000 after purchasing an additional 26,000 shares during the period. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Ionis Pharmaceuticals Price Performance

Shares of Ionis Pharmaceuticals stock opened at $37.57 on Tuesday. The company has a quick ratio of 7.28, a current ratio of 7.37 and a debt-to-equity ratio of 4.15. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of -14.07 and a beta of 0.41. Ionis Pharmaceuticals has a twelve month low of $35.95 and a twelve month high of $54.44. The company has a 50-day simple moving average of $40.84 and a two-hundred day simple moving average of $45.92.

Ionis Pharmaceuticals (NASDAQ:IONSGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.12. Ionis Pharmaceuticals had a negative return on equity of 107.64% and a negative net margin of 49.49%. The firm had revenue of $119.00 million during the quarter, compared to analysts’ expectations of $131.42 million. During the same period in the previous year, the firm earned ($0.87) EPS. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. Analysts forecast that Ionis Pharmaceuticals will post -3.98 EPS for the current year.

About Ionis Pharmaceuticals

(Get Free Report

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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Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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