Ionis Pharmaceuticals (NASDAQ:IONS) Shares Gap Down Following Analyst Downgrade

08 Sep 2026, 14:20 by Sarita Garza · The Markets Daily

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Get Free Report) shares gapped down before the market opened on Tuesday after HC Wainwright lowered their price target on the stock from $115.00 to $100.00. The stock had previously closed at $58.09, but opened at $52.15. HC Wainwright currently has a buy rating on the stock. Ionis Pharmaceuticals shares last traded at $56.7850, with a volume of 2,792,197 shares trading hands.

IONS has been the subject of several other reports. BMO Capital Markets raised their target price on shares of Ionis Pharmaceuticals from $60.00 to $61.00 and gave the company a “market perform” rating in a research note on Friday. The Goldman Sachs Group restated a “neutral” rating and set a $69.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday, July 29th. Canaccord Genuity Group dropped their price objective on Ionis Pharmaceuticals from $95.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday. Wells Fargo & Company dropped their price objective on Ionis Pharmaceuticals from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $86.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday. Seventeen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.95.

Check Out Our Latest Report on Ionis Pharmaceuticals

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Eugene Schneider sold 26,000 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $81.05, for a total value of $2,107,300.00. Following the completion of the sale, the executive vice president directly owned 77,114 shares of the company’s stock, valued at $6,250,089.70. This represents a 25.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Holly B. Kordasiewicz sold 60,846 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $73.41, for a total transaction of $4,466,704.86. Following the transaction, the executive vice president owned 22,458 shares in the company, valued at approximately $1,648,641.78. The trade was a 73.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 225,163 shares of company stock valued at $17,711,191 in the last three months. 1.81% of the stock is owned by insiders.

More Ionis Pharmaceuticals News

Here are the key news stories impacting Ionis Pharmaceuticals this week:

Positive Sentiment: Analysts remain bullish despite lower targets. HC Wainwright reduced its price target from $115 to $100 while maintaining a “buy” rating, implying substantial upside from recent levels. Canaccord Genuity also kept a “buy” rating but lowered its target from $95 to $85. The reductions likely reflect greater caution following the pelacarsen setback rather than a complete loss of confidence in Ionis’ broader pipeline.
Positive Sentiment: ZANVASTRO launch planning provides a separate potential catalyst. Ionis discussed the FDA approval and launch strategy for ZANVASTRO in Alexander disease, offering investors a commercial opportunity outside the failed pelacarsen study. Ionis discusses FDA approval and launch strategy for ZANVASTRO
Neutral Sentiment: Broader biotech weakness amplified the move. Ionis was listed among stocks trading lower in Tuesday’s premarket session as U.S. equity futures declined. Novartis’ sharp selloff after the pelacarsen result also spread pressure across biotech companies and related partners. Biotech stocks moving lower in premarket trading
Negative Sentiment: Pelacarsen failed its Phase 3 primary endpoint. The cardiovascular outcomes study did not demonstrate the required reduction in cardiovascular events, clouding the drug’s outlook and potentially reducing the value of Ionis’ partnered pipeline opportunity. Ionis shares fall after pelacarsen Phase 3 trial misses primary endpoint
Negative Sentiment: Investor concerns may extend to competing cardiovascular drugs. The failure also pressured Amgen because investors questioned whether its competing olpasiran program can produce successful Phase 3 results, underscoring heightened skepticism toward cardiovascular RNA therapies. Amgen shares fall after pelacarsen misses Phase 3 goal

Institutional Investors Weigh In On Ionis Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Capital World Investors raised its position in Ionis Pharmaceuticals by 41.2% in the fourth quarter. Capital World Investors now owns 17,961,299 shares of the company’s stock worth $1,420,918,000 after purchasing an additional 5,238,571 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Ionis Pharmaceuticals by 8,029.6% during the second quarter. California State Teachers Retirement System now owns 14,347,446 shares of the company’s stock valued at $1,137,609,000 after purchasing an additional 14,170,961 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Ionis Pharmaceuticals by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,148,849 shares of the company’s stock valued at $249,158,000 after purchasing an additional 82,560 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Ionis Pharmaceuticals by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,987,840 shares of the company’s stock valued at $236,370,000 after purchasing an additional 258,155 shares during the period. Finally, Baker BROS. Advisors LP raised its holdings in shares of Ionis Pharmaceuticals by 216.1% in the 4th quarter. Baker BROS. Advisors LP now owns 1,791,841 shares of the company’s stock worth $141,753,000 after buying an additional 1,225,043 shares in the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

Ionis Pharmaceuticals Stock Performance

The company has a current ratio of 7.89, a quick ratio of 7.73 and a debt-to-equity ratio of 3.07. The firm has a market capitalization of $9.37 billion, a price-to-earnings ratio of -16.30 and a beta of 0.42. The stock has a fifty day moving average price of $60.80 and a 200-day moving average price of $70.32.

About Ionis Pharmaceuticals

(Get Free Report)

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.