Ionis Pharmaceuticals (NASDAQ:IONS) Price Target Cut to $86.00 by Analysts at Needham & Company LLC

Ionis Pharmaceuticals (NASDAQ:IONS) had its price target trimmed by Needham & Company LLC from $105.00 to $86.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently issued reports on IONS. Morgan Stanley lifted their price objective on Ionis Pharmaceuticals from $95.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. The Goldman Sachs Group raised their price target on Ionis Pharmaceuticals from $74.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Canaccord Genuity Group assumed coverage on Ionis Pharmaceuticals in a research report on Monday, April 20th. They issued a “buy” rating and a $110.00 price objective on the stock. Raymond James Financial assumed coverage on shares of Ionis Pharmaceuticals in a research note on Friday, April 10th. They issued an “outperform” rating and a $104.00 target price for the company. Finally, Wall Street Zen upgraded shares of Ionis Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Saturday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.80.

Ionis Pharmaceuticals Price Performance

Ionis Pharmaceuticals stock opened at $64.27 on Thursday. The firm has a market capitalization of $10.62 billion, a PE ratio of -31.05 and a beta of 0.36. Ionis Pharmaceuticals has a 52 week low of $40.03 and a 52 week high of $86.74. The firm’s 50-day simple moving average is $76.12 and its 200 day simple moving average is $77.41. The company has a quick ratio of 4.09, a current ratio of 4.10 and a debt-to-equity ratio of 2.75.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.29. Ionis Pharmaceuticals had a negative net margin of 30.91% and a negative return on equity of 58.65%. The firm had revenue of $246.09 million during the quarter, compared to the consensus estimate of $195.56 million. During the same period last year, the firm posted ($0.93) EPS. The firm’s revenue for the quarter was up 86.4% on a year-over-year basis. On average, equities research analysts predict that Ionis Pharmaceuticals will post -3.69 EPS for the current fiscal year.

Insider Transactions at Ionis Pharmaceuticals

In related news, Director Allene M. Diaz sold 10,111 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $85.42, for a total transaction of $863,681.62. Following the completion of the transaction, the director owned 3,811 shares of the company’s stock, valued at approximately $325,535.62. This represents a 72.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP C Frank Bennett sold 5,536 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $83.58, for a total transaction of $462,698.88. Following the completion of the transaction, the executive vice president owned 75,018 shares in the company, valued at approximately $6,270,004.44. This trade represents a 6.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 244,038 shares of company stock valued at $19,139,399 in the last quarter. Insiders own 1.81% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Brown Brothers Harriman & Co. acquired a new position in shares of Ionis Pharmaceuticals during the 4th quarter valued at $27,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ionis Pharmaceuticals in the first quarter worth about $30,000. Quarry LP purchased a new stake in shares of Ionis Pharmaceuticals in the third quarter worth about $38,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Ionis Pharmaceuticals during the 4th quarter valued at about $47,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Ionis Pharmaceuticals during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Ionis Pharmaceuticals News Roundup

Here are the key news stories impacting Ionis Pharmaceuticals this week:

• Negative Sentiment: Ionis and AstraZeneca said the Phase 3 CARDIO-TTRansform trial for eplontersen in ATTR-CM did not meet its primary endpoint, a key clinical and commercial setback for the program. Article Title
• Negative Sentiment: Reuters reported that AstraZeneca-Ionis’ Wainua failed to meet the main goal of reducing cardiovascular deaths and recurring heart problems in the late-stage study, reinforcing concerns about the franchise. Article Title
• Negative Sentiment: Shares saw unusually large put-buying, suggesting some traders are positioning for further downside after the trial disappointment.
• Negative Sentiment: Two insiders disclosed stock sales under pre-arranged 10b5-1 plans, including Director Allene M. Diaz and EVP Holly B. Kordasiewicz, which may add to near-term investor caution.
• Neutral Sentiment: Needham lowered its price target to $86 from $105 but reiterated a Buy rating, indicating continued optimism despite the reduced valuation outlook. Article Title
• Neutral Sentiment: Some coverage notes that investors are debating whether the selloff creates a buying opportunity, but this is sentiment-driven rather than a fundamental catalyst. Article Title

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.