Ionis Pharmaceuticals (NASDAQ:IONS) Stock Gets Price Target Trim from HC Wainwright

Ionis Pharmaceuticals (NASDAQ:IONS) had its price objective reduced by HC Wainwright from $100.00 to $70.00 in a research report sent to investors on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on the stock. Raymond James Financial reissued an “outperform” rating and issued a $54.00 price target on shares of Ionis Pharmaceuticals in a research note on Monday. Wolfe Research cut shares of Ionis Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a report on Thursday, October 15th. BMO Capital Markets raised shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $54.00 to $66.00 in a research note on Thursday, October 22nd. Finally, Wall Street Zen cut Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Nineteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $78.00.

Ionis Pharmaceuticals Price Performance

NASDAQ:IONS opened at $27.31 on Tuesday. Ionis Pharmaceuticals has a 12 month low of $27.28 and a 12 month high of $86.74. The stock has a 50 day moving average of $44.23 and a two-hundred day moving average of $64.84. The company has a current ratio of 5.43, a quick ratio of 7.73 and a debt-to-equity ratio of 3.42. The firm has a market cap of $4.55 billion, a P/E ratio of -8.23 and a beta of 0.43.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Monday, November 9th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.23) by $0.57. Ionis Pharmaceuticals had a negative return on equity of 120.62% and a negative net margin of 56.98%. The firm had revenue of $242.72 million for the quarter, compared to analyst estimates of $178.17 million. During the same period in the previous year, the company posted ($0.80) earnings per share. The business’s revenue was up 54.8% on a year-over-year basis. On average, analysts expect that Ionis Pharmaceuticals will post -3.62 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Shannon Devers sold 1,357 shares of the company’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $43.54, for a total value of $59,083.78. Following the completion of the sale, the executive vice president owned 17,811 shares of the company’s stock, valued at approximately $775,490.94. This represents a 7.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.81% of the company’s stock.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. AlphaGrep UK Ltd increased its stake in Ionis Pharmaceuticals by 251.6% during the third quarter. AlphaGrep UK Ltd now owns 10,358 shares of the company’s stock worth $462,000 after acquiring an additional 7,412 shares during the last quarter. Meeder Advisory Services Inc. lifted its stake in shares of Ionis Pharmaceuticals by 6.6% in the 3rd quarter. Meeder Advisory Services Inc. now owns 8,164 shares of the company’s stock valued at $365,000 after purchasing an additional 504 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Ionis Pharmaceuticals by 29.1% in the 3rd quarter. Edmond DE Rothschild Holding S.A. now owns 146,320 shares of the company’s stock valued at $6,533,000 after purchasing an additional 33,000 shares during the last quarter. GW&K Investment Management LLC lifted its stake in shares of Ionis Pharmaceuticals by 79.6% in the 3rd quarter. GW&K Investment Management LLC now owns 1,341,315 shares of the company’s stock valued at $59,890,000 after purchasing an additional 594,349 shares during the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Ionis Pharmaceuticals during the 3rd quarter worth $644,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Latest Ionis Pharmaceuticals News

Investors following IONS have been watching these news items:

• Positive Sentiment: Ionis presented two-year DAWNZERA data at the ACAAI meeting, describing durable efficacy and disease control for hereditary angioedema. The findings offer supportive long-term evidence for the drug. Article: Ionis presents new long-term DAWNZERA data
• Positive Sentiment: Wells Fargo initiated or reiterated a Buy view on Ionis, signaling a favorable analyst outlook despite recent concerns. Article: Ionis receives a Buy from Wells Fargo
• Negative Sentiment: Wolf Popper and Levi & Korsinsky announced investigations related to Ionis securities claims, with the latter citing the TRYNGOLZA outlook reduction. These are investigations, not findings of wrongdoing, but may add uncertainty for investors. Article: Wolf Popper announces Ionis investor investigation

About Ionis Pharmaceuticals

Ionis Pharmaceuticals is a biotechnology company that discovers and develops RNA-targeted medicines, with a focus on antisense oligonucleotides. Its medicines are designed to act on RNA and change the production of proteins linked to disease. The company’s research and development programs span neurological, cardiovascular, metabolic and rare diseases. Ionis has developed medicines that it commercializes itself and products advanced or marketed with pharmaceutical partners. Its medicines and partnered products include treatments for conditions such as spinal muscular atrophy and transthyretin amyloidosis.