Ionis Pharmaceuticals (NASDAQ:IONS) Reaches New 12-Month Low on Analyst Downgrade

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)’s share price hit a new 52-week low during mid-day trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $58.00 to $41.00. The Goldman Sachs Group currently has a neutral rating on the stock. Ionis Pharmaceuticals traded as low as $32.01 and last traded at $31.7520, with a volume of 477,866 shares. The stock had previously closed at $39.42.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen cut Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research report on Thursday, October 15th. JPMorgan Chase & Co. decreased their price target on shares of Ionis Pharmaceuticals from $76.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, September 22nd. Citigroup restated a “buy” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, October 21st. Finally, HC Wainwright lowered their price objective on shares of Ionis Pharmaceuticals from $100.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday. Nineteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, EVP Shannon Devers sold 1,357 shares of Ionis Pharmaceuticals stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $43.54, for a total transaction of $59,083.78. Following the completion of the sale, the executive vice president directly owned 17,811 shares in the company, valued at $775,490.94. The trade was a 7.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.81% of the stock is owned by company insiders.

Key Stories Impacting Ionis Pharmaceuticals

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

• Positive Sentiment: Third-quarter revenue rose 54.8% year over year to about $243 million, above expectations, while the quarterly loss per share was narrower than analysts had forecast. DAWNZERA sales also increased 40% to $37 million. Ionis Pharmaceuticals Reports 55% Rise in Q3 Revenue, Cuts TRYNGOLZA Sales Guidance
• Neutral Sentiment: Several firms lowered price targets, including Goldman Sachs ($58 to $41), Morgan Stanley ($104 to $75), and Oppenheimer ($85 to $70). However, their ratings remained neutral, overweight, and outperform, respectively; Piper Sandler also maintained a Buy rating. Oppenheimer Adjusts Ionis Pharmaceuticals Price Target
• Negative Sentiment: The key concern is TRYNGOLZA: Ionis cut its 2026 sales outlook to about $50 million from $100–$110 million, citing slower launch uptake and competition. The reduction undermines expectations for the drug’s commercial contribution and drove the sharp selloff. Ionis Slashes Key Drug Revenue Outlook by 50%
• Negative Sentiment: Ionis’s full-year 2026 revenue outlook of $875 million–$900 million is below the approximately $921 million analyst consensus, reinforcing concerns even as the company beat quarterly estimates. Ionis Q3 Revenue Rises; Lowers TRYNGOLZA Sales Outlook
• Negative Sentiment: Several law firms announced investigations into potential securities claims related to the reduced TRYNGOLZA forecast. These are investigations, not findings of wrongdoing, but may add uncertainty for investors. Wolf Popper Announces Investor Investigation

Hedge Funds Weigh In On Ionis Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. increased its stake in shares of Ionis Pharmaceuticals by 199.7% during the 2nd quarter. Alyeska Investment Group L.P. now owns 1,417,916 shares of the company’s stock worth $112,427,000 after purchasing an additional 944,766 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in Ionis Pharmaceuticals by 21.7% during the third quarter. Pictet Asset Management Holding SA now owns 1,944,020 shares of the company’s stock valued at $87,249,000 after buying an additional 347,022 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Ionis Pharmaceuticals in the second quarter worth about $62,718,000. Groupama Asset Managment lifted its position in shares of Ionis Pharmaceuticals by 7.5% in the first quarter. Groupama Asset Managment now owns 824,540 shares of the company’s stock worth $61,915,000 after buying an additional 57,651 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its stake in shares of Ionis Pharmaceuticals by 79.6% during the 3rd quarter. GW&K Investment Management LLC now owns 1,341,315 shares of the company’s stock worth $59,890,000 after acquiring an additional 594,349 shares in the last quarter. Institutional investors own 93.86% of the company’s stock.

Ionis Pharmaceuticals Stock Performance

The company has a market cap of $4.61 billion, a P/E ratio of -8.36 and a beta of 0.43. The firm has a 50 day moving average price of $45.54 and a 200-day moving average price of $65.36. The company has a debt-to-equity ratio of 3.07, a quick ratio of 7.73 and a current ratio of 7.89.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Monday, November 9th. The company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.23) by $0.57. Ionis Pharmaceuticals had a negative return on equity of 115.54% and a negative net margin of 56.98%. The business had revenue of $242.72 million for the quarter, compared to the consensus estimate of $178.17 million. During the same period last year, the business earned ($0.80) EPS. The firm’s revenue was up 54.8% compared to the same quarter last year. On average, research analysts predict that Ionis Pharmaceuticals, Inc. will post -3.62 EPS for the current year.

Ionis Pharmaceuticals Company Profile

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.