HC Wainwright Boosts Ionis Pharmaceuticals (NASDAQ:IONS) Price Target to $110.00

Ionis Pharmaceuticals (NASDAQ:IONS) had its target price increased by analysts at HC Wainwright from $100.00 to $110.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 49.56% from the stock’s previous close.

Several other research analysts also recently commented on IONS. Needham & Company LLC raised their price target on shares of Ionis Pharmaceuticals from $78.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Guggenheim increased their price objective on Ionis Pharmaceuticals from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. upgraded Ionis Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $49.00 to $80.00 in a research report on Wednesday, October 8th. The Goldman Sachs Group upgraded Ionis Pharmaceuticals from a “sell” rating to a “neutral” rating and upped their target price for the stock from $45.00 to $65.00 in a research note on Friday, September 26th. Finally, Bank of America raised their price target on Ionis Pharmaceuticals from $81.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $84.15.

Ionis Pharmaceuticals Stock Down 0.7%

IONS stock opened at $73.55 on Monday. The stock has a 50-day simple moving average of $67.11 and a two-hundred day simple moving average of $48.37. Ionis Pharmaceuticals has a twelve month low of $23.95 and a twelve month high of $76.78. The firm has a market capitalization of $11.91 billion, a PE ratio of -43.52 and a beta of 0.33. The company has a quick ratio of 2.86, a current ratio of 2.87 and a debt-to-equity ratio of 0.99.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.35. The company had revenue of $157.00 million during the quarter, compared to analyst estimates of $131.75 million. Ionis Pharmaceuticals had a negative net margin of 26.45% and a negative return on equity of 45.29%. Ionis Pharmaceuticals’s revenue was up 17.2% compared to the same quarter last year. During the same period last year, the business earned ($0.95) earnings per share. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts predict that Ionis Pharmaceuticals will post -3.5 EPS for the current fiscal year.

Insider Activity

In related news, Director Joseph H. Wender sold 11,200 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $75.16, for a total transaction of $841,792.00. Following the transaction, the director directly owned 64,035 shares of the company’s stock, valued at approximately $4,812,870.60. This trade represents a 14.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Richard S. Geary sold 33,038 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $75.72, for a total value of $2,501,637.36. Following the completion of the sale, the executive vice president directly owned 59,657 shares of the company’s stock, valued at approximately $4,517,228.04. This represents a 35.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 924,789 shares of company stock valued at $59,515,499. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Xponance Inc. boosted its stake in shares of Ionis Pharmaceuticals by 5.1% in the 1st quarter. Xponance Inc. now owns 20,319 shares of the company’s stock valued at $613,000 after purchasing an additional 980 shares in the last quarter. CWM LLC lifted its stake in Ionis Pharmaceuticals by 18.7% in the first quarter. CWM LLC now owns 2,435 shares of the company’s stock worth $73,000 after purchasing an additional 384 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Ionis Pharmaceuticals by 31.5% in the first quarter. Bleakley Financial Group LLC now owns 22,284 shares of the company’s stock worth $672,000 after purchasing an additional 5,342 shares during the last quarter. Signaturefd LLC boosted its position in Ionis Pharmaceuticals by 45.6% during the first quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock valued at $42,000 after buying an additional 433 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Ionis Pharmaceuticals by 3.5% during the first quarter. Victory Capital Management Inc. now owns 18,641 shares of the company’s stock valued at $562,000 after buying an additional 637 shares during the last quarter. 93.86% of the stock is owned by hedge funds and other 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.