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

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

Several brokerages have commented on IONS. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. William Blair reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Royal Bank of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday, September 26th. StockNews.com lowered shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Finally, Piper Sandler reduced their price target on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th.

Ionis Pharmaceuticals Stock Down 1.9 %

Ionis Pharmaceuticals stock opened at $33.46 on Wednesday. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86. Ionis Pharmaceuticals has a 52 week low of $33.15 and a 52 week high of $54.44. The business’s 50-day moving average price is $36.22 and its 200 day moving average price is $41.59. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of -13.71 and a beta of 0.35.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, EVP Eric Swayze sold 1,194 shares of the company’s 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 sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brett P. Monia sold 6,630 shares of the firm’s 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 transaction, the chief executive officer now owns 167,393 shares in the company, valued at $6,369,303.65. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,877 shares of company stock valued at $299,578 over the last ninety days. Corporate insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in Ionis Pharmaceuticals by 83.9% during the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock valued at $27,000 after buying an additional 303 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Ionis Pharmaceuticals in the second quarter valued at approximately $37,000. Capital Performance Advisors LLP acquired a new position in shares of Ionis Pharmaceuticals during the third quarter valued at approximately $40,000. Prospera Private Wealth LLC bought a new stake in Ionis Pharmaceuticals during the third quarter worth approximately $42,000. Finally, Quantbot Technologies LP acquired a new stake in Ionis Pharmaceuticals in the third quarter worth approximately $51,000. Institutional investors and hedge funds 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.