Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) have been assigned an average rating of “Moderate Buy” from the twenty-one research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $86.95.

A number of analysts have recently weighed in on the company. Leerink Partners increased their price target on Ionis Pharmaceuticals from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, December 15th. Needham & Company LLC increased their target price on Ionis Pharmaceuticals from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. HC Wainwright raised their target price on Ionis Pharmaceuticals from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Barclays started coverage on shares of Ionis Pharmaceuticals in a research report on Wednesday, January 28th. They set an “overweight” rating and a $95.00 price target for the company. Finally, Wall Street Zen downgraded shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st.

Ionis Pharmaceuticals Stock Up 0.1%

IONS stock opened at $84.35 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.79 and a quick ratio of 2.78. Ionis Pharmaceuticals has a 1-year low of $23.95 and a 1-year high of $86.74. The firm has a fifty day moving average price of $80.72 and a two-hundred day moving average price of $68.75. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of -49.91 and a beta of 0.29.

Insider Activity at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Eugene Schneider sold 6,179 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $83.45, for a total transaction of $515,637.55. Following the completion of the transaction, the executive vice president owned 69,702 shares in the company, valued at approximately $5,816,631.90. The trade was a 8.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Eric Swayze sold 6,179 shares of Ionis Pharmaceuticals stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $82.93, for a total transaction of $512,424.47. Following the sale, the executive vice president owned 47,747 shares in the company, valued at approximately $3,959,658.71. This represents a 11.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 460,714 shares of company stock valued at $37,295,131. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Ionis Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in IONS. Goldman Sachs Group Inc. boosted its stake in Ionis Pharmaceuticals by 72.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 652,518 shares of the company’s stock valued at $19,686,000 after purchasing an additional 274,310 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Ionis Pharmaceuticals by 6.4% in the 1st 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 acquiring an additional 39,794 shares during the last quarter. Focus Partners Wealth raised its position 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 purchasing an additional 2,277 shares during the period. KLP Kapitalforvaltning AS lifted its holdings in shares of Ionis Pharmaceuticals by 15.0% during the second quarter. KLP Kapitalforvaltning AS now owns 31,500 shares of the company’s stock valued at $1,245,000 after purchasing an additional 4,100 shares during the last quarter. Finally, Callan Family Office LLC acquired a new position in shares of Ionis Pharmaceuticals in the 2nd quarter valued at $213,000. 93.86% of the stock is currently owned by institutional investors.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.