Analysts Set Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Price Target at $86.95

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) have been given a consensus rating of “Moderate Buy” by the twenty-one research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $86.95.

IONS has been the topic of a number of research analyst reports. Bank of America upped their price target on Ionis Pharmaceuticals from $86.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Needham & Company LLC upped their target price on shares of Ionis Pharmaceuticals from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Barclays began coverage on shares of Ionis Pharmaceuticals in a report on Wednesday, January 28th. They set an “overweight” rating and a $95.00 price target on the stock. Raymond James Financial reissued a “strong-buy” rating and set a $89.00 price objective (up from $85.00) on shares of Ionis Pharmaceuticals in a report on Thursday, October 30th. Finally, Wells Fargo & Company raised their target price on shares of Ionis Pharmaceuticals from $82.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, January 5th.

Insider Transactions at Ionis Pharmaceuticals

In related news, EVP C Frank Bennett sold 85,089 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $82.93, for a total transaction of $7,056,430.77. Following the completion of the sale, the executive vice president owned 80,293 shares in the company, valued at approximately $6,658,698.49. This represents a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett P. Monia sold 62,970 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $82.72, for a total value of $5,208,878.40. Following the completion of the transaction, the chief executive officer directly owned 283,927 shares in the company, valued at $23,486,441.44. The trade was a 18.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 481,356 shares of company stock worth $38,987,621. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IONS. Brown Brothers Harriman & Co. bought a new position in shares of Ionis Pharmaceuticals in the fourth quarter worth about $27,000. Golden State Wealth Management LLC lifted its holdings in Ionis Pharmaceuticals by 198.4% in the 3rd quarter. Golden State Wealth Management LLC now owns 376 shares of the company’s stock worth $25,000 after purchasing an additional 250 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in Ionis Pharmaceuticals in the 3rd quarter worth approximately $25,000. Mather Group LLC. purchased a new stake in Ionis Pharmaceuticals during the 3rd quarter valued at approximately $27,000. Finally, Quarry LP bought a new stake in shares of Ionis Pharmaceuticals during the third quarter valued at approximately $38,000. 93.86% of the stock is currently owned by institutional investors.

Ionis Pharmaceuticals Trading Down 1.4%

NASDAQ:IONS opened at $80.60 on Thursday. Ionis Pharmaceuticals has a 52 week low of $23.95 and a 52 week high of $86.74. The stock has a market cap of $13.05 billion, a price-to-earnings ratio of -47.69 and a beta of 0.29. The company’s 50 day moving average price is $80.70 and its 200-day moving average price is $69.31. The company has a quick ratio of 2.78, a current ratio of 2.79 and a debt-to-equity ratio of 0.96.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.