Needham & Company LLC restated their buy rating on shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in a research report released on Tuesday, October 17th. Needham & Company LLC currently has a $64.00 price target on the stock.
Several other analysts have also commented on IONS. TheStreet raised shares of Ionis Pharmaceuticals from a d+ rating to a c- rating in a research note on Wednesday, July 5th. Stifel Nicolaus restated a hold rating and set a $42.00 price target on shares of Ionis Pharmaceuticals in a report on Monday, July 10th. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a hold rating to a buy rating and set a $58.00 price target on the stock in a report on Wednesday, July 12th. BMO Capital Markets restated an outperform rating and set a $62.00 price target (up previously from $59.00) on shares of Ionis Pharmaceuticals in a report on Wednesday, July 12th. Finally, Sanford C. Bernstein started coverage on shares of Ionis Pharmaceuticals in a research note on Thursday, July 27th. They issued a market perform rating and a $57.00 price objective on the stock. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Ionis Pharmaceuticals has a consensus rating of Hold and a consensus target price of $50.04.
Ionis Pharmaceuticals (NASDAQ:IONS) traded up 1.25% on Tuesday, reaching $55.00. The company’s stock had a trading volume of 220,835 shares. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 264.42 and a beta of 3.12. The company has a 50 day moving average of $56.64 and a 200 day moving average of $50.99. Ionis Pharmaceuticals has a 52 week low of $24.58 and a 52 week high of $65.51.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The firm had revenue of $104.15 million for the quarter, compared to analyst estimates of $93.29 million. Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The company’s revenue for the quarter was up 170.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.47) earnings per share. On average, analysts forecast that Ionis Pharmaceuticals will post ($0.17) earnings per share for the current year.
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In related news, CEO Stanley T. Crooke sold 15,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $52.00, for a total transaction of $780,000.00. Following the completion of the sale, the chief executive officer now owns 43,014 shares in the company, valued at approximately $2,236,728. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Stanley T. Crooke sold 27,500 shares of the stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $52.89, for a total transaction of $1,454,475.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,636 shares of company stock valued at $5,665,565. Corporate insiders own 2.13% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Ionis Pharmaceuticals by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 9,855,160 shares of the company’s stock worth $501,332,000 after acquiring an additional 417,364 shares during the last quarter. BlackRock Inc. boosted its stake in Ionis Pharmaceuticals by 4.0% during the 2nd quarter. BlackRock Inc. now owns 6,823,987 shares of the company’s stock worth $347,135,000 after acquiring an additional 264,179 shares during the last quarter. State Street Corp boosted its stake in Ionis Pharmaceuticals by 20.5% during the 1st quarter. State Street Corp now owns 3,340,471 shares of the company’s stock worth $134,285,000 after acquiring an additional 567,792 shares during the last quarter. First Trust Advisors LP boosted its stake in Ionis Pharmaceuticals by 40.2% during the 3rd quarter. First Trust Advisors LP now owns 982,344 shares of the company’s stock worth $49,805,000 after acquiring an additional 281,733 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Ionis Pharmaceuticals by 8.6% during the 1st quarter. Geode Capital Management LLC now owns 947,906 shares of the company’s stock worth $38,105,000 after acquiring an additional 75,027 shares during the last quarter. 89.21% of the stock is currently owned by institutional investors and hedge funds.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.
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