Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) have received an average recommendation of "Moderate Buy" from the nineteen brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $60.65.

A number of analysts recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. TD Cowen lifted their price objective on shares of Ionis Pharmaceuticals from $54.00 to $59.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. StockNews.com cut shares of Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Tuesday, November 12th. Needham & Company LLC restated a "buy" rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. Finally, Guggenheim cut their price objective on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th.

Ionis Pharmaceuticals Stock Performance

Shares of Ionis Pharmaceuticals stock traded up $0.02 during trading hours on Tuesday, reaching $33.75. The company's stock had a trading volume of 1,489,623 shares, compared to its average volume of 1,320,001. The company's 50 day simple moving average is $39.15 and its 200 day simple moving average is $42.64. 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 has a one year low of $33.33 and a one year high of $54.44. The stock has a market cap of $5.33 billion, a P/E ratio of -13.83 and a beta of 0.39.

Insiders Place Their Bets

In other news, EVP Eric Swayze sold 1,194 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $37.92, for a total value of $45,276.48. Following the sale, the executive vice president now owns 33,713 shares in the company, valued at approximately $1,278,396.96. The trade was a 3.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brett P. Monia sold 6,630 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $38.05, for a total transaction of $252,271.50. Following the completion of the sale, the chief executive officer now owns 167,393 shares in the company, valued at $6,369,303.65. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,197 shares of company stock worth $315,310 over the last 90 days. Corporate insiders own 2.71% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IONS. GAMMA Investing LLC lifted its position in Ionis Pharmaceuticals by 83.9% during the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company's stock worth $27,000 after buying an additional 303 shares in the last quarter. nVerses Capital LLC acquired a new position in Ionis Pharmaceuticals during the 2nd quarter worth about $29,000. Itau Unibanco Holding S.A. acquired a new position in Ionis Pharmaceuticals during the 2nd quarter worth about $37,000. Mather Group LLC. raised its holdings in Ionis Pharmaceuticals by 35.8% during the 2nd quarter. Mather Group LLC. now owns 911 shares of the company's stock worth $39,000 after purchasing an additional 240 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Ionis Pharmaceuticals during the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 93.86% of the company's stock.

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; 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.