Ionis Pharmaceuticals (NASDAQ:IONS) Price Target Increased to $37.00 by Analysts at The Goldman Sachs Group

Ionis Pharmaceuticals (NASDAQ:IONS) had its target price raised by The Goldman Sachs Group from $33.00 to $37.00 in a research report report published on Friday morning, Marketbeat Ratings reports. The Goldman Sachs Group currently has a sell rating on the stock.

Other equities analysts have also issued research reports about the company. Wolfe Research raised Ionis Pharmaceuticals from a peer perform rating to an outperform rating and set a $58.00 price target for the company in a research report on Wednesday, April 10th. TD Cowen lifted their price target on Ionis Pharmaceuticals from $54.00 to $59.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Bank of America lifted their price target on Ionis Pharmaceuticals from $67.00 to $68.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Needham & Company LLC reaffirmed a buy rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a research report on Friday. Finally, SVB Leerink raised Ionis Pharmaceuticals from a market perform rating to an outperform rating and lifted their price target for the stock from $53.00 to $62.00 in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $60.68.

Ionis Pharmaceuticals Trading Up 0.6 %

NASDAQ:IONS traded up $0.29 during trading hours on Friday, hitting $47.29. The company had a trading volume of 280,303 shares, compared to its average volume of 1,215,049. The company has a market capitalization of $6.90 billion, a PE ratio of -17.60 and a beta of 0.40. The stock has a 50-day moving average price of $44.94 and a 200 day moving average price of $44.31. Ionis Pharmaceuticals has a 52 week low of $35.95 and a 52 week high of $54.44. The company has a debt-to-equity ratio of 4.15, a current ratio of 7.37 and a quick ratio of 7.28.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.47. The business had revenue of $225.00 million for the quarter, compared to analysts’ expectations of $152.35 million. Ionis Pharmaceuticals had a negative net margin of 44.90% and a negative return on equity of 109.65%. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. On average, equities research analysts predict that Ionis Pharmaceuticals will post -3.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ionis Pharmaceuticals news, Director Joseph Klein III sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $50.00, for a total value of $600,000.00. Following the completion of the transaction, the director now directly owns 16,346 shares in the company, valued at approximately $817,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pingora Partners LLC purchased a new stake in shares of Ionis Pharmaceuticals during the 4th quarter worth approximately $25,000. GAMMA Investing LLC purchased a new stake in shares of Ionis Pharmaceuticals during the 4th quarter worth approximately $26,000. Mather Group LLC. purchased a new stake in shares of Ionis Pharmaceuticals during the 1st quarter worth approximately $29,000. nVerses Capital LLC purchased a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter worth approximately $29,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Ionis Pharmaceuticals during the 4th quarter worth approximately $34,000. 93.86% of the stock is currently owned by institutional investors.

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.