Ionis Pharmaceuticals (NASDAQ:IONS) Given New $64.00 Price Target at Citigroup

Ionis Pharmaceuticals (NASDAQ:IONS) had its target price trimmed by Citigroup from $67.00 to $64.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday. Piper Sandler reduced their target price on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. William Blair reaffirmed an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. BMO Capital Markets cut their price objective on shares of Ionis Pharmaceuticals from $60.00 to $45.00 and set a “market perform” rating for the company in a report on Thursday. Finally, Wells Fargo & Company decreased their target price on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Ionis Pharmaceuticals Stock Performance

NASDAQ IONS opened at $32.69 on Thursday. Ionis Pharmaceuticals has a 52-week low of $30.23 and a 52-week high of $52.34. The stock has a market cap of $5.16 billion, a PE ratio of -13.40 and a beta of 0.34. The firm has a 50-day moving average of $33.73 and a 200-day moving average of $38.46. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.12) by $0.46. Ionis Pharmaceuticals had a negative net margin of 44.58% and a negative return on equity of 88.98%. The firm had revenue of $227.00 million during the quarter, compared to the consensus estimate of $140.97 million. During the same period last year, the business posted $0.12 earnings per share. The business’s revenue for the quarter was down 30.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Ionis Pharmaceuticals will post -3.47 EPS for the current year.

Insider Buying and Selling

In other Ionis Pharmaceuticals news, CFO Elizabeth L. Hougen sold 1,523 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $32.44, for a total transaction of $49,406.12. Following the sale, the chief financial officer now owns 110,500 shares of the company’s stock, valued at approximately $3,584,620. The trade was a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Eric Swayze sold 1,367 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $32.31, for a total value of $44,167.77. Following the completion of the transaction, the executive vice president now owns 48,017 shares of the company’s stock, valued at $1,551,429.27. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,609 shares of company stock worth $3,564,867 in the last ninety days. 2.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Capital World Investors lifted its holdings in Ionis Pharmaceuticals by 46.5% during the 4th quarter. Capital World Investors now owns 11,465,413 shares of the company’s stock worth $400,831,000 after buying an additional 3,637,041 shares during the period. Norges Bank bought a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth about $59,948,000. Vanguard Group Inc. lifted its stake in shares of Ionis Pharmaceuticals by 9.4% in the fourth quarter. Vanguard Group Inc. now owns 16,472,539 shares of the company’s stock worth $575,880,000 after acquiring an additional 1,416,781 shares during the period. Vestal Point Capital LP acquired a new position in shares of Ionis Pharmaceuticals in the fourth quarter worth approximately $20,801,000. Finally, Orbimed Advisors LLC boosted its holdings in Ionis Pharmaceuticals by 21.2% in the fourth quarter. Orbimed Advisors LLC now owns 2,817,347 shares of the company’s stock valued at $98,494,000 after acquiring an additional 492,900 shares during the last quarter. Institutional investors and hedge funds 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.