Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Receives $56.08 Consensus PT from Analysts

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) has earned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $57.67.

A number of equities analysts have commented on the stock. Royal Bank of Canada upped their target price on shares of Ionis Pharmaceuticals from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Piper Sandler lifted their price objective on Ionis Pharmaceuticals from $62.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Tuesday, April 9th. StockNews.com upgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Finally, Oppenheimer increased their price objective on shares of Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th.

Ionis Pharmaceuticals Trading Down 2.6 %

Shares of IONS stock opened at $41.97 on Friday. The company has a market cap of $6.12 billion, a PE ratio of -16.39 and a beta of 0.41. Ionis Pharmaceuticals has a 1 year low of $34.32 and a 1 year high of $54.44. The stock’s 50 day simple moving average is $43.07 and its two-hundred day simple moving average is $46.99. The company has a debt-to-equity ratio of 3.18, a current ratio of 5.90 and a quick ratio of 5.83.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.72. Ionis Pharmaceuticals had a negative net margin of 46.32% and a negative return on equity of 90.29%. The business had revenue of $325.00 million for the quarter, compared to analysts’ expectations of $176.01 million. During the same quarter in the previous year, the business posted ($0.37) earnings per share. The business’s revenue was up 113.8% compared to the same quarter last year. Research analysts predict that Ionis Pharmaceuticals will post -3.76 earnings per share for the current year.

Insider Activity at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Joseph Baroldi sold 4,006 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total transaction of $166,649.60. Following the completion of the sale, the executive vice president now directly owns 19,631 shares in the company, valued at approximately $816,649.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. HealthInvest Partners AB purchased a new position in Ionis Pharmaceuticals during the fourth quarter valued at approximately $1,226,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Ionis Pharmaceuticals by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,242,307 shares of the company’s stock valued at $56,351,000 after purchasing an additional 43,087 shares in the last quarter. Trexquant Investment LP lifted its stake in shares of Ionis Pharmaceuticals by 75.2% in the 3rd quarter. Trexquant Investment LP now owns 183,349 shares of the company’s stock valued at $8,317,000 after purchasing an additional 78,724 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Ionis Pharmaceuticals during the fourth quarter worth $9,329,000. Finally, California Public Employees Retirement System grew its position in Ionis Pharmaceuticals by 154.5% during the third quarter. California Public Employees Retirement System now owns 655,371 shares of the company’s stock valued at $29,728,000 after buying an additional 397,897 shares during the period. Hedge funds and other institutional investors own 93.86% of the company’s stock.

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.