Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Receives $60.65 Average Price Target from Analysts

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $60.65.

Several equities research analysts have issued reports on the stock. Piper Sandler decreased their price target on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. William Blair reaffirmed an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. StockNews.com downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Finally, Guggenheim dropped their target price on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th.

Insider Activity at Ionis Pharmaceuticals

In related news, EVP Eric Swayze sold 1,194 shares of the business’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 transaction of $45,276.48. Following the transaction, the executive vice president now directly owns 33,713 shares of the company’s stock, valued at approximately $1,278,396.96. The trade was a 3.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Brett P. Monia sold 6,630 shares of the company’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 value of $252,271.50. Following the completion of the transaction, the chief executive officer now owns 167,393 shares of the company’s stock, valued at approximately $6,369,303.65. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,877 shares of company stock worth $299,578. 2.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Ionis Pharmaceuticals by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock valued at $106,922,000 after purchasing an additional 183,814 shares in the last quarter. Great Point Partners LLC acquired a new stake in shares of Ionis Pharmaceuticals during the second quarter valued at about $15,728,000. Charles Schwab Investment Management Inc. increased its position in shares of Ionis Pharmaceuticals by 8.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company’s stock worth $57,807,000 after acquiring an additional 114,914 shares during the last quarter. DRW Securities LLC acquired a new position in shares of Ionis Pharmaceuticals in the second quarter worth about $2,429,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Ionis Pharmaceuticals by 13.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 650,779 shares of the company’s stock valued at $26,070,000 after purchasing an additional 77,909 shares during the last quarter. 93.86% of the stock is owned by institutional investors and hedge funds.

Ionis Pharmaceuticals Stock Down 1.9 %

IONS opened at $33.46 on Wednesday. The firm has a market cap of $5.28 billion, a P/E ratio of -13.71 and a beta of 0.35. The business’s fifty day simple moving average is $36.33 and its 200 day simple moving average is $41.75. Ionis Pharmaceuticals has a 52 week low of $33.15 and a 52 week high of $54.44. The company has a quick ratio of 8.82, a current ratio of 8.91 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.