Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) have been given a consensus rating of “Moderate Buy” by the twenty-two brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seventeen have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $89.20.

A number of equities analysts have commented on the company. TD Cowen restated a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, September 8th. JPMorgan Chase & Co. cut their target price on Ionis Pharmaceuticals from $76.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, September 22nd. Raymond James Financial reissued an “outperform” rating and set a $84.00 target price on shares of Ionis Pharmaceuticals in a report on Tuesday, September 8th. Citigroup decreased their price target on Ionis Pharmaceuticals from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research report on Friday, July 17th.

Insider Activity

In other news, EVP C. Bennett sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $85.46, for a total value of $1,281,900.00. Following the completion of the transaction, the executive vice president directly owned 75,018 shares in the company, valued at approximately $6,411,038.28. The trade was a 16.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Hayden purchased 15,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were purchased at an average cost of $53.38 per share, with a total value of $800,700.00. Following the acquisition, the director owned 19,000 shares in the company, valued at $1,014,220. This trade represents a 375.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 31,009 shares of company stock valued at $2,638,797 in the last 90 days. 1.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors lifted its stake in Ionis Pharmaceuticals by 41.2% in the 4th quarter. Capital World Investors now owns 17,961,299 shares of the company’s stock valued at $1,420,918,000 after purchasing an additional 5,238,571 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Ionis Pharmaceuticals by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 3,148,849 shares of the company’s stock valued at $249,158,000 after acquiring an additional 82,560 shares during the last quarter. Baker BROS. Advisors LP increased its position in shares of Ionis Pharmaceuticals by 216.1% during the fourth quarter. Baker BROS. Advisors LP now owns 1,791,841 shares of the company’s stock worth $141,753,000 after buying an additional 1,225,043 shares during the period. Pictet Asset Management Holding SA grew its holdings in Ionis Pharmaceuticals by 1.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,434,995 shares of the company’s stock worth $107,077,000 after acquiring an additional 16,504 shares during the period. Finally, Alyeska Investment Group L.P. grew its stake in Ionis Pharmaceuticals by 199.7% during the second quarter. Alyeska Investment Group L.P. now owns 1,417,916 shares of the company’s stock worth $112,427,000 after purchasing an additional 944,766 shares during the period. Institutional investors own 93.86% of the company’s stock.

Ionis Pharmaceuticals Stock Down 1.5%

Shares of IONS opened at $44.00 on Friday. Ionis Pharmaceuticals has a 12 month low of $43.01 and a 12 month high of $86.74. The firm’s 50 day moving average is $54.20 and its 200-day moving average is $66.38. The stock has a market capitalization of $7.31 billion, a PE ratio of -12.72 and a beta of 0.38. The company has a current ratio of 7.89, a quick ratio of 7.73 and a debt-to-equity ratio of 3.07.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is a biotechnology company focused on discovering and developing RNA-targeted medicines. The company’s antisense technology is designed to selectively bind to RNA and modify the production of disease-associated proteins. Its research programs address neurological, cardiovascular, metabolic and other serious diseases.

Ionis has developed medicines both independently and through collaborations with larger pharmaceutical companies. Its products and partnered therapies have included treatments for spinal muscular atrophy, hereditary transthyretin-mediated amyloidosis, familial chylomicronemia syndrome and transthyretin amyloidosis with cardiomyopathy or polyneuropathy.