Ionis Pharmaceuticals (NASDAQ:IONS) PT Raised to $75.00

Ionis Pharmaceuticals (NASDAQ:IONS) had its price objective hoisted by Oppenheimer from $72.00 to $75.00 in a research report released on Tuesday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

IONS has been the subject of a number of other research reports. Piper Sandler raised their price objective on shares of Ionis Pharmaceuticals from $62.00 to $63.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. lifted their target price on shares of Ionis Pharmaceuticals from $52.00 to $55.00 and gave the stock a neutral rating in a research note on Thursday, February 1st. Stifel Nicolaus lifted their target price on shares of Ionis Pharmaceuticals from $45.00 to $50.00 and gave the stock a hold rating in a research note on Monday, December 18th. Bank of America upgraded shares of Ionis Pharmaceuticals from a neutral rating to a buy rating and lifted their target price for the stock from $52.00 to $62.00 in a research note on Tuesday, January 2nd. Finally, Needham & Company LLC reiterated a buy rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $55.92.

Ionis Pharmaceuticals Stock Performance

NASDAQ IONS opened at $42.83 on Tuesday. Ionis Pharmaceuticals has a 52-week low of $34.32 and a 52-week high of $54.44. The company has a 50-day simple moving average of $45.23 and a 200 day simple moving average of $47.52. The company has a debt-to-equity ratio of 3.18, a quick ratio of 5.83 and a current ratio of 5.90. The company has a market capitalization of $6.24 billion, a PE ratio of -16.73 and a beta of 0.39.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.72. Ionis Pharmaceuticals had a negative net margin of 46.32% and a negative return on equity of 90.29%. The business had revenue of $325.00 million during the quarter, compared to the consensus estimate of $176.01 million. During the same quarter last year, the company posted ($0.37) earnings per share. The firm’s quarterly revenue was up 113.8% compared to the same quarter last year. On average, research analysts predict that Ionis Pharmaceuticals will post -3.92 EPS for the current year.

Insider Activity

In other Ionis Pharmaceuticals news, EVP Onaiza Cadoret-Manier sold 5,564 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $50.42, for a total transaction of $280,536.88. Following the completion of the sale, the executive vice president now directly owns 33,810 shares in the company, valued at $1,704,700.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Ionis Pharmaceuticals news, EVP Onaiza Cadoret-Manier sold 5,564 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $50.42, for a total transaction of $280,536.88. Following the completion of the sale, the executive vice president now directly owns 33,810 shares in the company, valued at $1,704,700.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Elizabeth L. Hougen sold 2,125 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $49.54, for a total transaction of $105,272.50. Following the sale, the chief financial officer now owns 92,905 shares of the company’s stock, valued at $4,602,513.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,734 shares of company stock worth $5,152,226. 2.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,242,307 shares of the company’s stock worth $56,351,000 after acquiring an additional 43,087 shares during the last quarter. Trexquant Investment LP increased its stake in shares of Ionis Pharmaceuticals by 75.2% in the third quarter. Trexquant Investment LP now owns 183,349 shares of the company’s stock worth $8,317,000 after buying an additional 78,724 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Ionis Pharmaceuticals in the fourth quarter worth $9,329,000. SG Americas Securities LLC increased its stake in shares of Ionis Pharmaceuticals by 113.3% in the third quarter. SG Americas Securities LLC now owns 41,571 shares of the company’s stock worth $1,886,000 after buying an additional 22,078 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Ionis Pharmaceuticals by 154.5% in the third quarter. California Public Employees Retirement System now owns 655,371 shares of the company’s stock worth $29,728,000 after buying an additional 397,897 shares during the period. 93.86% of the stock is currently owned by institutional investors.

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.