Ionis Pharmaceuticals (NASDAQ:IONS) Price Target Raised to $95.00 at HC Wainwright

Ionis Pharmaceuticals (NASDAQ:IONS) had its price objective increased by HC Wainwright from $70.00 to $95.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

IONS has been the topic of several other reports. Stifel Nicolaus set a $43.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, August 21st. Citigroup upped their target price on shares of Ionis Pharmaceuticals from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Raymond James Financial upped their target price on shares of Ionis Pharmaceuticals from $60.00 to $64.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 31st. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Ionis Pharmaceuticals in a research report on Monday, August 25th. Finally, Morgan Stanley raised shares of Ionis Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $55.00 to $62.00 in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.73.

Ionis Pharmaceuticals Stock Up 34.9%

Shares of NASDAQ IONS opened at $57.49 on Tuesday. The firm’s 50-day moving average price is $42.42 and its 200-day moving average price is $35.77. The company has a current ratio of 2.87, a quick ratio of 2.86 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of -31.24 and a beta of 0.28. Ionis Pharmaceuticals has a 12-month low of $23.95 and a 12-month high of $57.92.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Wednesday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.51. The firm had revenue of $452.00 million for the quarter, compared to analysts’ expectations of $270.90 million. Ionis Pharmaceuticals had a negative net margin of 28.25% and a negative return on equity of 45.29%. The business’s revenue was up 100.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.45) EPS. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Ionis Pharmaceuticals will post -3.5 EPS for the current fiscal year.

Insider Buying and Selling

In other Ionis Pharmaceuticals news, EVP C Frank Bennett sold 10,000 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $43.98, for a total value of $439,800.00. Following the transaction, the executive vice president directly owned 93,466 shares in the company, valued at $4,110,634.68. This represents a 9.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eugene Schneider sold 9,549 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $42.80, for a total transaction of $408,697.20. Following the completion of the transaction, the executive vice president owned 51,507 shares in the company, valued at $2,204,499.60. This represents a 15.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,568 shares of company stock worth $1,705,296 over the last three months. 2.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in Ionis Pharmaceuticals by 3,786.5% in the 1st quarter. GAMMA Investing LLC now owns 28,993 shares of the company’s stock worth $961,000 after acquiring an additional 28,247 shares in the last quarter. Fifth Third Bancorp grew its stake in Ionis Pharmaceuticals by 4.8% in the 1st quarter. Fifth Third Bancorp now owns 9,989 shares of the company’s stock worth $301,000 after acquiring an additional 458 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Ionis Pharmaceuticals during the first quarter valued at approximately $3,523,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ionis Pharmaceuticals by 20.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,450 shares of the company’s stock valued at $330,000 after purchasing an additional 1,625 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Ionis Pharmaceuticals by 18.7% during the first quarter. CWM LLC now owns 2,435 shares of the company’s stock valued at $73,000 after purchasing an additional 384 shares in the last quarter. 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.