Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) have received an average recommendation of "Moderate Buy" from the nineteen ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $60.65.

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Tuesday, November 12th. Guggenheim dropped their target price on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. William Blair restated an "outperform" rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Needham & Company LLC reiterated a "buy" rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $70.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th.

Insider Buying and Selling

In related news, Director Michael R. Hayden acquired 5,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $36.22 per share, for a total transaction of $181,100.00. Following the completion of the purchase, the director now directly owns 35,219 shares of the company's stock, valued at $1,275,632.18. The trade was a 16.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brett P. Monia sold 6,630 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total value of $252,271.50. Following the sale, the chief executive officer now directly owns 167,393 shares in the company, valued at approximately $6,369,303.65. The trade was a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,877 shares of company stock valued at $299,578 in the last three months. 2.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IONS. Great Point Partners LLC bought a new stake in Ionis Pharmaceuticals during the second quarter worth approximately $15,728,000. International Assets Investment Management LLC boosted its stake in shares of Ionis Pharmaceuticals by 3,287.0% during the 3rd quarter. International Assets Investment Management LLC now owns 328,772 shares of the company's stock worth $13,171,000 after acquiring an additional 319,065 shares in the last quarter. Logos Global Management LP bought a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter worth $14,298,000. Baker BROS. Advisors LP acquired a new position in shares of Ionis Pharmaceuticals in the 3rd quarter worth $8,952,000. Finally, Geode Capital Management LLC boosted its position in shares of Ionis Pharmaceuticals by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company's stock valued at $106,922,000 after purchasing an additional 183,814 shares during the period. Institutional investors own 93.86% of the company's stock.

Ionis Pharmaceuticals Stock Down 2.5 %

NASDAQ IONS traded down $0.87 during mid-day trading on Wednesday, reaching $34.10. 759,281 shares of the company's stock traded hands, compared to its average volume of 1,212,796. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86. Ionis Pharmaceuticals has a 1-year low of $33.33 and a 1-year high of $54.44. The company has a fifty day simple moving average of $36.41 and a 200-day simple moving average of $41.80. The company has a market cap of $5.38 billion, a price-to-earnings ratio of -13.98 and a beta of 0.35.

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.