Ionis Pharmaceuticals Inc (IONS) Receives $66.33 Consensus Price Target from Brokerages

Shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $62.63.

A number of equities analysts have recently commented on IONS shares. Zacks Investment Research raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, March 26th. TheStreet raised Ionis Pharmaceuticals from a “c” rating to a “b-” rating in a report on Friday, March 1st. JPMorgan Chase & Co. upped their target price on Ionis Pharmaceuticals from $47.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. BMO Capital Markets upped their target price on Ionis Pharmaceuticals from $70.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, February 28th. Finally, ValuEngine raised Ionis Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 28th.

In other news, Director B Lynne Parshall sold 8,333 shares of the stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $70.00, for a total value of $583,310.00. Following the completion of the sale, the director now owns 61,010 shares of the company’s stock, valued at $4,270,700. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Richard S. Geary sold 999 shares of the stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $60.00, for a total value of $59,940.00. Following the completion of the sale, the senior vice president now directly owns 21,442 shares of the company’s stock, valued at approximately $1,286,520. The disclosure for this sale can be found here. In the last three months, insiders sold 339,205 shares of company stock valued at $24,034,607. Insiders own 2.44% of the company’s stock.



Several institutional investors have recently made changes to their positions in the stock. Capital Investment Advisory Services LLC bought a new position in Ionis Pharmaceuticals in the fourth quarter worth approximately $91,000. BB Biotech AG lifted its holdings in shares of Ionis Pharmaceuticals by 0.9% in the fourth quarter. BB Biotech AG now owns 8,741,334 shares of the company’s stock valued at $472,557,000 after purchasing an additional 75,000 shares in the last quarter. Hanseatic Management Services Inc. bought a new position in shares of Ionis Pharmaceuticals in the fourth quarter valued at approximately $440,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ionis Pharmaceuticals by 82.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,709 shares of the company’s stock valued at $957,000 after purchasing an additional 8,014 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Ionis Pharmaceuticals by 95.2% in the fourth quarter. Bank of Montreal Can now owns 35,651 shares of the company’s stock valued at $1,928,000 after purchasing an additional 17,386 shares in the last quarter. Institutional investors own 85.05% of the company’s stock.

Shares of Ionis Pharmaceuticals stock traded down $0.81 during trading on Wednesday, reaching $83.80. 26,001 shares of the company’s stock were exchanged, compared to its average volume of 1,141,285. The company has a debt-to-equity ratio of 0.53, a quick ratio of 7.85 and a current ratio of 7.88. Ionis Pharmaceuticals has a 1-year low of $39.07 and a 1-year high of $86.58. The stock has a market capitalization of $11.70 billion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 256.41 and a beta of 2.42.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, February 27th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $2.46. Ionis Pharmaceuticals had a return on equity of 41.89% and a net margin of 45.64%. The company had revenue of $192.00 million during the quarter, compared to analysts’ expectations of $159.59 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. Ionis Pharmaceuticals’s revenue was up 14.3% on a year-over-year basis. On average, research analysts forecast that Ionis Pharmaceuticals will post 0.02 earnings per share for the current year.

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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

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Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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