Needham & Company LLC Raises Ionis Pharmaceuticals (NASDAQ:IONS) Price Target to $78.00

by · The Cerbat Gem

Ionis Pharmaceuticals (NASDAQ:IONS – Get Free Report) had its price objective raised by Needham & Company LLC from $70.00 to $78.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 11.00% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Morgan Stanley raised their price target on shares of Ionis Pharmaceuticals from $71.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, September 23rd. Barclays raised their price target on shares of Ionis Pharmaceuticals from $78.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, September 23rd. Jefferies Financial Group raised their price target on shares of Ionis Pharmaceuticals from $83.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Wells Fargo & Company raised their price objective on shares of Ionis Pharmaceuticals from $77.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, August 22nd. Finally, Wall Street Zen raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.28.

Get Our Latest Report on Ionis Pharmaceuticals

Ionis Pharmaceuticals Stock Up 0.4%

NASDAQ:IONS opened at $70.27 on Wednesday. The firm’s 50-day moving average price is $54.43 and its 200-day moving average price is $41.58. The company has a market capitalization of $11.20 billion, a PE ratio of -38.19 and a beta of 0.33. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.87 and a quick ratio of 2.86. Ionis Pharmaceuticals has a 1-year low of $23.95 and a 1-year high of $71.87.

Ionis Pharmaceuticals (NASDAQ:IONS – Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.51. The business had revenue of $452.00 million during the quarter, compared to analyst estimates of $270.90 million. Ionis Pharmaceuticals had a negative net margin of 28.25% and a negative return on equity of 45.29%. Ionis Pharmaceuticals’s revenue was up 100.9% compared to the same quarter last year. During the same period last year, the business earned ($0.45) EPS. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts predict that Ionis Pharmaceuticals will post -3.5 EPS for the current fiscal year.

Insider Activity at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Elizabeth L. Hougen sold 49,800 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $65.26, for a total transaction of $3,249,948.00. Following the completion of the transaction, the executive vice president directly owned 110,500 shares of the company’s stock, valued at $7,211,230. The trade was a 31.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick R. O’neil sold 76,850 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $60.97, for a total transaction of $4,685,544.50. Following the transaction, the executive vice president directly owned 5,655 shares of the company’s stock, valued at $344,785.35. The trade was a 93.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 753,986 shares of company stock valued at $45,921,435 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Ionis Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Allworth Financial LP boosted its stake in shares of Ionis Pharmaceuticals by 231.8% during the second quarter. Allworth Financial LP now owns 740 shares of the company’s stock valued at $29,000 after purchasing an additional 517 shares during the period. Signaturefd LLC boosted its stake in shares of Ionis Pharmaceuticals by 45.6% during the first quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock valued at $42,000 after purchasing an additional 433 shares during the period. Ancora Advisors LLC bought a new stake in shares of Ionis Pharmaceuticals in the first quarter valued at about $60,000. CWM LLC raised its holdings in shares of Ionis Pharmaceuticals by 18.7% in the first quarter. CWM LLC now owns 2,435 shares of the company’s stock valued at $73,000 after acquiring an additional 384 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Ionis Pharmaceuticals by 151.3% in the second quarter. Parallel Advisors LLC now owns 1,872 shares of the company’s stock valued at $74,000 after acquiring an additional 1,127 shares in the last quarter. 93.86% of the stock is owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Company Profile

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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.

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