Ionis Pharmaceuticals (NASDAQ:IONS) PT Raised to $62.00

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) had its price objective increased by stock analysts at Piper Sandler from $60.00 to $62.00 in a report released on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 52.11% from the stock’s current price.

Several other brokerages also recently issued reports on IONS. Morgan Stanley downgraded shares of Ionis Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $56.00 to $40.00 in a research report on Wednesday, December 21st. StockNews.com assumed coverage on shares of Ionis Pharmaceuticals in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Barclays upped their price target on shares of Ionis Pharmaceuticals to $44.00 in a research report on Tuesday, November 15th. Citigroup lifted their price target on shares of Ionis Pharmaceuticals from $28.00 to $31.00 and gave the stock a “sell” rating in a research report on Thursday, November 10th. Finally, SVB Leerink lowered their price target on shares of Ionis Pharmaceuticals from $30.00 to $26.00 and set a “market perform” rating for the company in a research report on Thursday, November 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Ionis Pharmaceuticals currently has an average rating of “Hold” and an average target price of $43.22.

Ionis Pharmaceuticals Stock Up 0.4 %

Shares of NASDAQ:IONS opened at $40.76 on Thursday. Ionis Pharmaceuticals has a 52 week low of $28.25 and a 52 week high of $48.82. The company has a debt-to-equity ratio of 2.10, a quick ratio of 7.52 and a current ratio of 7.59. The company’s fifty day moving average is $39.53 and its 200-day moving average is $41.80. The company has a market capitalization of $5.79 billion, a PE ratio of -339.64 and a beta of 0.54.

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) last issued its earnings results on Wednesday, November 9th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.41. The company had revenue of $160.00 million for the quarter, compared to the consensus estimate of $149.48 million. Ionis Pharmaceuticals had a net margin of 0.91% and a return on equity of 1.18%. Equities research analysts predict that Ionis Pharmaceuticals will post -2.49 earnings per share for the current fiscal year.

Insider Activity at Ionis Pharmaceuticals

In related news, CEO Brett P. Monia sold 25,066 shares of the stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $39.49, for a total value of $989,856.34. Following the sale, the chief executive officer now directly owns 120,863 shares in the company, valued at approximately $4,772,879.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Elizabeth L. Hougen sold 8,280 shares of the stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $39.70, for a total transaction of $328,716.00. Following the completion of the sale, the chief financial officer now directly owns 73,435 shares of the company’s stock, valued at approximately $2,915,369.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brett P. Monia sold 25,066 shares of the stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $39.49, for a total value of $989,856.34. Following the sale, the chief executive officer now directly owns 120,863 shares of the company’s stock, valued at $4,772,879.87. The disclosure for this sale can be found here. Insiders have sold 40,977 shares of company stock worth $1,622,348 in the last ninety days. Company insiders own 2.36% of the company’s stock.

Institutional Trading of Ionis Pharmaceuticals

A number of large investors have recently bought and sold shares of IONS. CWM LLC grew its stake in shares of Ionis Pharmaceuticals by 14.2% during the 3rd quarter. CWM LLC now owns 1,963 shares of the company’s stock worth $87,000 after acquiring an additional 244 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Ionis Pharmaceuticals by 21.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,429 shares of the company’s stock worth $53,000 after acquiring an additional 249 shares in the last quarter. Grandfield & Dodd LLC grew its stake in shares of Ionis Pharmaceuticals by 1.0% during the 2nd quarter. Grandfield & Dodd LLC now owns 28,276 shares of the company’s stock worth $1,050,000 after acquiring an additional 275 shares in the last quarter. Delphia USA Inc. grew its stake in shares of Ionis Pharmaceuticals by 3.1% during the 3rd quarter. Delphia USA Inc. now owns 9,597 shares of the company’s stock worth $424,000 after acquiring an additional 286 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Ionis Pharmaceuticals by 7.1% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,708 shares of the company’s stock worth $208,000 after acquiring an additional 314 shares in the last quarter. 87.32% of the stock is owned by institutional investors.

About Ionis Pharmaceuticals

(Get Rating)

Ionis Pharmaceuticals, Inc engages in the development and commercialization of human therapeutic drugs using antisense technology. It operates through the Ionis Core and Akcea Therapeutics segments. The Ionis Core segment exploits a novel drug discovery platform to generate a pipeline of drugs. The Akcea Therapeutics segment develops and commercializes drugs for cardiometabolic diseases.

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