Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) have received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $60.65.

A number of research firms have weighed in on IONS. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. The Goldman Sachs Group upped 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. Leerink Partners upgraded Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $53.00 to $62.00 in a research note on Wednesday, July 24th. Piper Sandler cut their price target on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Finally, Wells Fargo & Company cut their price target on Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th.

Ionis Pharmaceuticals Stock Down 1.8 %

IONS stock opened at $33.73 on Tuesday. Ionis Pharmaceuticals has a fifty-two week low of $33.63 and a fifty-two week high of $54.44. The business’s 50 day moving average price is $39.33 and its two-hundred day moving average price is $42.69. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of -13.82 and a beta of 0.39.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, EVP Eric Swayze sold 1,194 shares of the stock in a transaction 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 $1,278,396.96. This represents a 3.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brett P. Monia sold 6,630 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $38.05, for a total value of $252,271.50. Following the transaction, the chief executive officer now directly owns 167,393 shares in the company, valued at $6,369,303.65. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,197 shares of company stock worth $315,310. Insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of institutional investors have recently bought and sold shares of IONS. Great Point Partners LLC bought a new position in Ionis Pharmaceuticals in the 2nd quarter worth $15,728,000. International Assets Investment Management LLC raised its holdings in Ionis Pharmaceuticals by 3,287.0% during the third quarter. International Assets Investment Management LLC now owns 328,772 shares of the company’s stock valued at $13,171,000 after acquiring an additional 319,065 shares during the period. Logos Global Management LP bought a new stake in Ionis Pharmaceuticals during the second quarter valued at about $14,298,000. Zimmer Partners LP bought a new stake in Ionis Pharmaceuticals during the first quarter valued at about $11,718,000. Finally, Baker BROS. Advisors LP bought a new stake in Ionis Pharmaceuticals during the third quarter valued at about $8,952,000. 93.86% of the stock is owned by institutional investors.

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.