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

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) have earned an average recommendation of “Moderate Buy” from the nineteen analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $60.65.

A number of analysts have recently issued reports on the company. StockNews.com cut Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price target on Ionis Pharmaceuticals from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday, November 7th. Finally, Wells Fargo & Company reduced their target price on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, November 7th.

Ionis Pharmaceuticals Trading Down 1.1 %

Shares of NASDAQ:IONS opened at $36.61 on Friday. Ionis Pharmaceuticals has a 52-week low of $33.33 and a 52-week high of $54.44. The company has a market capitalization of $5.78 billion, a P/E ratio of -15.00 and a beta of 0.35. The company has a 50-day simple moving average of $37.52 and a 200 day simple moving average of $42.28. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91.

Insider Transactions at Ionis Pharmaceuticals

In other news, CEO Brett P. Monia sold 6,630 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total transaction of $252,271.50. Following the completion of the transaction, the chief executive officer now owns 167,393 shares of the company’s stock, valued at approximately $6,369,303.65. The trade was a 3.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eric Swayze sold 1,194 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $37.92, for a total value of $45,276.48. Following the completion of the transaction, the executive vice president now owns 33,713 shares in the company, valued at approximately $1,278,396.96. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,877 shares of company stock valued at $299,578. Company insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of Ionis Pharmaceuticals by 83.9% during the third quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock valued at $27,000 after purchasing an additional 303 shares in the last quarter. nVerses Capital LLC acquired a new stake in Ionis Pharmaceuticals during the 2nd quarter worth approximately $29,000. Itau Unibanco Holding S.A. bought a new stake in Ionis Pharmaceuticals during the 2nd quarter worth approximately $37,000. Capital Performance Advisors LLP acquired a new position in Ionis Pharmaceuticals in the 3rd quarter valued at approximately $40,000. Finally, Prospera Private Wealth LLC acquired a new position in Ionis Pharmaceuticals in the 3rd quarter valued at approximately $42,000. Institutional investors own 93.86% of the company’s stock.

Ionis Pharmaceuticals Company Profile

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.