Ionis Pharmaceuticals (NASDAQ:IONS) Price Target Raised to $33.00

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) had its target price boosted by SVB Leerink from $32.00 to $33.00 in a report issued on Monday, Benzinga reports. They currently have a market perform rating on the stock.

A number of other brokerages have also weighed in on IONS. Citigroup boosted their target price on Ionis Pharmaceuticals from $28.00 to $31.00 and gave the stock a sell rating in a research report on Thursday, November 10th. StockNews.com assumed coverage on Ionis Pharmaceuticals in a research report on Wednesday, October 12th. They issued a hold rating for the company. Barclays upped their price target on shares of Ionis Pharmaceuticals to $44.00 in a research report on Tuesday, November 15th. Piper Sandler upped their price target on shares of Ionis Pharmaceuticals from $60.00 to $62.00 and gave the company an overweight rating in a research report on Thursday, January 19th. Finally, Morgan Stanley lowered shares of Ionis Pharmaceuticals from an overweight rating to an equal weight rating and reduced their price target for the company from $56.00 to $40.00 in a research report on Wednesday, December 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $44.00.

Ionis Pharmaceuticals Price Performance

IONS opened at $39.42 on Monday. The stock has a 50-day moving average price of $39.43 and a 200-day moving average price of $41.88. The company has a debt-to-equity ratio of 2.10, a current ratio of 7.59 and a quick ratio of 7.52. The firm has a market cap of $5.60 billion, a PE ratio of -328.47 and a beta of 0.54. Ionis Pharmaceuticals has a 1 year low of $28.25 and a 1 year high of $48.82.

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

Insider Activity at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, CEO Brett P. Monia sold 25,066 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 120,863 shares in the company, valued at approximately $4,772,879.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ionis Pharmaceuticals news, Director Joseph Klein III sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the transaction, the director now directly owns 16,791 shares in the company, valued at approximately $671,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brett P. Monia sold 25,066 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 120,863 shares of the company’s stock, valued at $4,772,879.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,977 shares of company stock worth $1,622,348. 2.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Ionis Pharmaceuticals by 4.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,056,046 shares of the company’s stock valued at $557,375,000 after acquiring an additional 705,586 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Ionis Pharmaceuticals by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 12,806,023 shares of the company’s stock valued at $566,411,000 after acquiring an additional 605,747 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Ionis Pharmaceuticals by 10.1% during the 1st quarter. Clearbridge Investments LLC now owns 6,476,033 shares of the company’s stock valued at $239,872,000 after acquiring an additional 593,051 shares during the last quarter. BVF Inc. IL boosted its position in shares of Ionis Pharmaceuticals by 125.1% during the 3rd quarter. BVF Inc. IL now owns 2,872,953 shares of the company’s stock valued at $127,071,000 after acquiring an additional 1,596,379 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Ionis Pharmaceuticals by 30.1% during the 3rd quarter. First Trust Advisors LP now owns 2,077,260 shares of the company’s stock valued at $91,877,000 after acquiring an additional 481,205 shares during the last quarter. 87.32% of the stock is currently owned by institutional investors.

About Ionis Pharmaceuticals

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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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