Canaccord Genuity Group Cuts Ionis Pharmaceuticals (NASDAQ:IONS) Price Target to $85.00

Ionis Pharmaceuticals (NASDAQ:IONS) had its price objective decreased by Canaccord Genuity Group from $95.00 to $85.00 in a research note issued to investors on Tuesday, Marketbeat reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities analysts have also recently commented on IONS. Leerink Partners upped their target price on shares of Ionis Pharmaceuticals from $122.00 to $129.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Barclays dropped their price objective on shares of Ionis Pharmaceuticals from $115.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, July 10th. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price objective on shares of Ionis Pharmaceuticals in a research report on Monday, August 31st. Citigroup reduced their target price on shares of Ionis Pharmaceuticals from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of Ionis Pharmaceuticals from $72.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Seventeen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.25.

Ionis Pharmaceuticals Stock Down 0.7%

IONS stock opened at $55.65 on Tuesday. The company has a debt-to-equity ratio of 3.07, a current ratio of 7.89 and a quick ratio of 7.73. Ionis Pharmaceuticals has a 52-week low of $50.01 and a 52-week high of $86.74. The company has a 50-day moving average of $59.36 and a two-hundred day moving average of $69.76. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of -16.08 and a beta of 0.42.

Insider Activity

In other Ionis Pharmaceuticals news, Director Allene Diaz sold 10,111 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $85.42, for a total transaction of $863,681.62. Following the sale, the director owned 3,811 shares in the company, valued at $325,535.62. The trade was a 72.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Hayden purchased 5,000 shares of the stock in a transaction on Friday, July 31st. The stock was acquired at an average cost of $51.60 per share, for a total transaction of $258,000.00. Following the acquisition, the director directly owned 24,000 shares in the company, valued at approximately $1,238,400. This trade represents a 26.32% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 164,317 shares of company stock valued at $13,244,486. 1.81% of the stock is owned by insiders.

Institutional Trading of Ionis Pharmaceuticals

Several institutional investors have recently made changes to their positions in IONS. Brown Brothers Harriman & Co. acquired a new position in Ionis Pharmaceuticals in the fourth quarter worth about $27,000. Cassaday & Co Wealth Management LLC acquired a new stake in Ionis Pharmaceuticals during the first quarter valued at approximately $30,000. Quarry LP bought a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter valued at approximately $38,000. Allworth Financial LP bought a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter valued at approximately $41,000. Finally, Silvant Capital Management LLC acquired a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $43,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Ionis Pharmaceuticals

Here are the key news stories impacting Ionis Pharmaceuticals this week:

• Positive Sentiment: HC Wainwright modestly improved its earnings outlook. The firm raised its EPS estimates for the fourth quarter of 2026, the first and second quarters of 2027, and full-year 2027. It maintained a Buy rating and a $100 price target, although it still expects Ionis to report losses through most of the forecast period. HC Wainwright estimates
• Positive Sentiment: Bank of America Securities reiterated its Buy rating on Ionis, providing some support for the stock and signaling that the firm continues to see upside despite recent weakness. Bank of America rating
• Neutral Sentiment: Ionis presented at the Wells Fargo 21st Annual Healthcare Conference. The transcript may provide additional detail on its pipeline and commercial outlook, but no specific new catalyst was identified in the available report. Wells Fargo conference transcript
• Negative Sentiment: Analyst pessimism appears to be the main near-term pressure. Ionis shares reportedly gapped down following an analyst downgrade, while separate reports highlighted bearish forecasts from Canaccord Genuity and HC Wainwright. This likely outweighed the modestly improved earnings estimates and Buy ratings. Ionis shares gap down after downgrade
• Neutral Sentiment: The reported short-interest data shows zero shares short both currently and in the prior period, but the figures appear incomplete or erroneous and therefore offer no reliable trading signal.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is a biotechnology company that discovers and develops medicines using antisense technology, which is designed to target RNA and influence the production of disease-related proteins. The company focuses on neurological, cardiovascular, metabolic and other serious diseases for which there remains a significant unmet medical need.

Ionis has developed several approved therapies, including SPINRAZA (nusinersen) for spinal muscular atrophy, QALSODY (tofersen) for a form of amyotrophic lateral sclerosis, TEGSEDI (inotersen) for hereditary transthyretin-mediated amyloidosis and WAYLIVRA (volanesorsen) for familial chylomicronemia syndrome in certain markets.