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

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) has earned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $60.65.

Several analysts recently weighed in on IONS shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. William Blair reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Guggenheim decreased their target price on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, September 26th. Finally, StockNews.com lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th.

Ionis Pharmaceuticals Stock Up 2.6 %

NASDAQ:IONS opened at $34.97 on Wednesday. Ionis Pharmaceuticals has a 52 week low of $33.33 and a 52 week high of $54.44. The stock’s fifty day moving average is $36.52 and its two-hundred day moving average is $41.85. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of -14.33 and a beta of 0.35. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86.

Insider Buying and Selling at Ionis Pharmaceuticals

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

Institutional Investors Weigh In On Ionis Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Everence Capital Management Inc. acquired a new stake in Ionis Pharmaceuticals in the fourth quarter valued at approximately $237,000. Geode Capital Management LLC boosted its holdings in shares of Ionis Pharmaceuticals by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock valued at $106,922,000 after acquiring an additional 183,814 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Ionis Pharmaceuticals by 2.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 56,825 shares of the company’s stock valued at $2,276,000 after acquiring an additional 1,529 shares in the last quarter. Groupama Asset Managment grew its position in Ionis Pharmaceuticals by 4.1% during the 3rd quarter. Groupama Asset Managment now owns 916,060 shares of the company’s stock worth $367,000 after acquiring an additional 36,084 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Ionis Pharmaceuticals in the 3rd quarter worth about $807,000. Institutional investors own 93.86% of the company’s stock.

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.