Ionis Pharmaceuticals (NASDAQ:IONS) Price Target Raised to $110.00 at HC Wainwright

Ionis Pharmaceuticals (NASDAQ:IONS) had its price objective increased by research analysts at HC Wainwright from $100.00 to $110.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 49.56% from the company’s previous close.

IONS has been the topic of a number of other reports. Oppenheimer lifted their price objective on shares of Ionis Pharmaceuticals from $84.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research report on Wednesday, October 8th. Needham & Company LLC upped their price objective on shares of Ionis Pharmaceuticals from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Barclays increased their price objective on shares of Ionis Pharmaceuticals from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Bank of America boosted their target price on Ionis Pharmaceuticals from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.15.

Ionis Pharmaceuticals Stock Performance

Shares of IONS opened at $73.55 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.86 and a current ratio of 2.87. The stock has a 50 day moving average price of $67.11 and a two-hundred day moving average price of $48.37. The firm has a market capitalization of $11.91 billion, a P/E ratio of -43.52 and a beta of 0.33. Ionis Pharmaceuticals has a 52 week low of $23.95 and a 52 week high of $76.78.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Wednesday, October 29th. The company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.35. Ionis Pharmaceuticals had a negative return on equity of 45.29% and a negative net margin of 26.45%.The company had revenue of $157.00 million for the quarter, compared to analyst estimates of $131.75 million. During the same quarter last year, the company earned ($0.95) earnings per share. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts forecast that Ionis Pharmaceuticals will post -3.5 earnings per share for the current fiscal year.

Insider Activity at Ionis Pharmaceuticals

In related news, Director B Lynne Parshall sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $71.74, for a total value of $358,700.00. Following the transaction, the director owned 61,344 shares in the company, valued at approximately $4,400,818.56. This represents a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph H. Wender sold 11,200 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $75.16, for a total value of $841,792.00. Following the transaction, the director directly owned 64,035 shares of the company’s stock, valued at approximately $4,812,870.60. This trade represents a 14.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 924,789 shares of company stock worth $59,515,499 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Ionis Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its holdings in Ionis Pharmaceuticals by 198.4% during the third quarter. Golden State Wealth Management LLC now owns 376 shares of the company’s stock valued at $25,000 after purchasing an additional 250 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at approximately $25,000. Mather Group LLC. bought a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at approximately $27,000. Meeder Asset Management Inc. lifted its stake in shares of Ionis Pharmaceuticals by 620.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 713 shares of the company’s stock valued at $47,000 after buying an additional 614 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Ionis Pharmaceuticals by 231.8% in the 2nd quarter. Allworth Financial LP now owns 740 shares of the company’s stock worth $29,000 after buying an additional 517 shares during the period. 93.86% of the stock is currently owned by institutional investors.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.