Ionis Pharmaceuticals (NASDAQ:IONS) Price Target Cut to $82.00 by Analysts at Wells Fargo & Company

Ionis Pharmaceuticals (NASDAQ:IONS) had its price objective decreased by Wells Fargo & Company from $85.00 to $82.00 in a research note released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on IONS. Piper Sandler lifted their price objective on Ionis Pharmaceuticals from $62.00 to $63.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Royal Bank of Canada lifted their price objective on Ionis Pharmaceuticals from $65.00 to $70.00 and gave the stock an outperform rating in a research report on Friday, January 26th. William Blair restated an outperform rating on shares of Ionis Pharmaceuticals in a research report on Tuesday, April 9th. Oppenheimer lifted their price target on Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an outperform rating in a research report on Tuesday, April 9th. Finally, StockNews.com upgraded Ionis Pharmaceuticals from a sell rating to a hold rating in a research report on Saturday, February 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $59.54.

Ionis Pharmaceuticals Trading Down 1.7 %

IONS traded down $0.69 on Wednesday, hitting $39.47. 1,300,597 shares of the company were exchanged, compared to its average volume of 1,123,460. The firm has a fifty day simple moving average of $42.74 and a two-hundred day simple moving average of $46.87. The company has a debt-to-equity ratio of 3.18, a quick ratio of 5.83 and a current ratio of 5.90. Ionis Pharmaceuticals has a 12 month low of $34.99 and a 12 month high of $54.44. The stock has a market capitalization of $5.75 billion, a PE ratio of -15.69 and a beta of 0.41.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.12. Ionis Pharmaceuticals had a negative return on equity of 90.29% and a negative net margin of 46.32%. The business had revenue of $119.00 million for the quarter, compared to analyst estimates of $131.42 million. During the same period last year, the company earned ($0.87) EPS. Ionis Pharmaceuticals’s revenue for the quarter was down 9.2% compared to the same quarter last year. Sell-side analysts expect that Ionis Pharmaceuticals will post -3.76 earnings per share for the current year.

Insider Transactions at Ionis Pharmaceuticals

In other news, Director Joseph Klein III sold 6,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $42.71, for a total value of $256,260.00. Following the completion of the transaction, the director now owns 16,346 shares in the company, valued at $698,137.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Joseph Baroldi sold 4,006 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total transaction of $166,649.60. Following the completion of the sale, the executive vice president now owns 19,631 shares in the company, valued at $816,649.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Klein III sold 6,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $42.71, for a total value of $256,260.00. Following the sale, the director now directly owns 16,346 shares of the company’s stock, valued at approximately $698,137.66. The disclosure for this sale can be found here. Insiders sold 10,393 shares of company stock worth $440,127 over the last quarter. 2.65% of the stock is currently owned by insiders.

Institutional Trading of Ionis Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its holdings in Ionis Pharmaceuticals by 2.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the company’s stock valued at $424,000 after purchasing an additional 202 shares during the period. Grandfield & Dodd LLC grew its holdings in Ionis Pharmaceuticals by 0.7% during the fourth quarter. Grandfield & Dodd LLC now owns 33,104 shares of the company’s stock valued at $1,675,000 after purchasing an additional 242 shares during the period. Treasurer of the State of North Carolina grew its holdings in Ionis Pharmaceuticals by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 62,532 shares of the company’s stock valued at $2,836,000 after purchasing an additional 310 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Ionis Pharmaceuticals by 2.3% in the third quarter. Victory Capital Management Inc. now owns 15,436 shares of the company’s stock worth $700,000 after acquiring an additional 348 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Ionis Pharmaceuticals by 3.8% in the first quarter. Fifth Third Bancorp now owns 9,633 shares of the company’s stock worth $418,000 after acquiring an additional 351 shares during the period. Institutional investors own 93.86% of the company’s stock.

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.