Analysts Set Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Price Target at $60.65

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

Several equities analysts have issued reports on the stock. Piper Sandler dropped their price objective 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. Wells Fargo & Company dropped their price target on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. Finally, StockNews.com downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th.

Insider Buying and Selling at Ionis Pharmaceuticals

In related news, EVP Eric Swayze sold 1,194 shares of Ionis Pharmaceuticals 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 completion of the sale, the executive vice president now owns 33,713 shares in the company, valued at approximately $1,278,396.96. This trade represents a 3.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, 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. In the last three months, insiders sold 7,877 shares of company stock worth $299,578. 2.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Checchi Capital Advisers LLC acquired a new position in Ionis Pharmaceuticals in the 2nd quarter valued at $202,000. BLB&B Advisors LLC lifted its position in Ionis Pharmaceuticals by 5.2% during the second quarter. BLB&B Advisors LLC now owns 153,750 shares of the company’s stock worth $7,328,000 after buying an additional 7,650 shares during the period. Peregrine Capital Management LLC grew its holdings in Ionis Pharmaceuticals by 11.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 132,024 shares of the company’s stock valued at $6,292,000 after buying an additional 13,426 shares during the period. International Assets Investment Management LLC increased its stake in shares of Ionis Pharmaceuticals by 27.6% during the 2nd quarter. International Assets Investment Management LLC now owns 9,707 shares of the company’s stock valued at $463,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Ionis Pharmaceuticals by 3.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 22,669 shares of the company’s stock worth $1,080,000 after acquiring an additional 695 shares during the period. Institutional investors and hedge funds own 93.86% of the company’s stock.

Ionis Pharmaceuticals Trading Up 4.1 %

NASDAQ:IONS opened at $38.10 on Friday. Ionis Pharmaceuticals has a 12-month low of $33.33 and a 12-month 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. The stock’s 50 day simple moving average is $37.52 and its 200-day simple moving average is $42.37. The firm has a market cap of $6.02 billion, a P/E ratio of -15.61 and a beta of 0.35.

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.