Brokerages Set Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Price Target at $58.25

Ionis Pharmaceuticals, Inc. (NASDAQ:IONSGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, thirteen 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 $58.25.

A number of equities research analysts have recently issued reports on the company. Redburn Atlantic assumed coverage on Ionis Pharmaceuticals in a report on Monday, March 31st. They set a “neutral” rating and a $39.00 price objective for the company. Needham & Company LLC dropped their price target on shares of Ionis Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Guggenheim dropped their price target on shares of Ionis Pharmaceuticals from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Wall Street Zen upgraded shares of Ionis Pharmaceuticals to a “sell” rating in a research report on Tuesday, March 18th. Finally, Barclays upgraded shares of Ionis Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $51.00 to $57.00 in a research report on Tuesday.

View Our Latest Report on Ionis Pharmaceuticals

Ionis Pharmaceuticals Trading Down 1.4%

Shares of NASDAQ:IONS opened at $42.98 on Wednesday. Ionis Pharmaceuticals has a 12-month low of $23.95 and a 12-month high of $52.34. The stock has a market cap of $6.84 billion, a PE ratio of -14.37 and a beta of 0.23. The business has a 50 day moving average of $35.24 and a 200-day moving average of $33.14. The company has a quick ratio of 9.62, a current ratio of 9.66 and a debt-to-equity ratio of 2.63.

Ionis Pharmaceuticals (NASDAQ:IONSGet Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.93) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.14. Ionis Pharmaceuticals had a negative return on equity of 91.85% and a negative net margin of 63.65%. The company had revenue of $132.00 million during the quarter, compared to analysts’ expectations of $144.31 million. During the same quarter in the previous year, the company posted ($0.98) earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. As a group, equities research analysts forecast that Ionis Pharmaceuticals will post -3.5 earnings per share for the current year.

Insiders Place Their Bets

In other Ionis Pharmaceuticals news, Director Michael R. Hayden bought 15,000 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was purchased at an average cost of $31.86 per share, for a total transaction of $477,900.00. Following the completion of the purchase, the director directly owned 50,219 shares of the company’s stock, valued at approximately $1,599,977.34. This trade represents a 42.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Focus Partners Wealth increased its holdings in shares of Ionis Pharmaceuticals by 30.1% during the first quarter. Focus Partners Wealth now owns 9,832 shares of the company’s stock worth $297,000 after buying an additional 2,277 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Ionis Pharmaceuticals by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 659,435 shares of the company’s stock worth $19,895,000 after buying an additional 39,794 shares in the last quarter. Exome Asset Management LLC increased its holdings in shares of Ionis Pharmaceuticals by 121.0% during the first quarter. Exome Asset Management LLC now owns 135,616 shares of the company’s stock worth $4,092,000 after buying an additional 74,249 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Ionis Pharmaceuticals by 72.5% during the first quarter. Goldman Sachs Group Inc. now owns 652,518 shares of the company’s stock worth $19,686,000 after buying an additional 274,310 shares in the last quarter. Finally, Teza Capital Management LLC increased its holdings in shares of Ionis Pharmaceuticals by 20.2% during the first quarter. Teza Capital Management LLC now owns 10,244 shares of the company’s stock worth $309,000 after buying an additional 1,719 shares in the last quarter. 93.86% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also

Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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