Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday, October 17th. The brokerage presently has a $68.00 price objective on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 20.57% from the stock’s current price.
According to Zacks, “Ionis Pharmaceuticals, Inc. is a RNA-targeted drug discovery and development company which focuses on developing drugs for severe and rare diseases. Ionis Pharmaceuticals, Inc., formerly known as Isis Pharmaceuticals, Inc., is headquartered in Carlsbad, California. “
IONS has been the topic of a number of other reports. Stifel Nicolaus raised their price objective on Ionis Pharmaceuticals from $42.00 to $50.00 and gave the stock a “hold” rating in a report on Wednesday, August 9th. TheStreet upgraded Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a report on Wednesday, July 5th. Needham & Company LLC restated a “buy” rating and issued a $64.00 price objective on shares of Ionis Pharmaceuticals in a report on Wednesday, July 26th. Evercore ISI began coverage on Ionis Pharmaceuticals in a report on Wednesday, August 16th. They issued an “outperform” rating and a $65.00 price objective on the stock. Finally, Laidlaw reiterated a “buy” rating and set a $65.00 target price on shares of Ionis Pharmaceuticals in a report on Monday, August 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $49.64.
Ionis Pharmaceuticals (NASDAQ IONS) opened at 56.40 on Tuesday. Ionis Pharmaceuticals has a 12-month low of $24.58 and a 12-month high of $65.51. The company has a market capitalization of $7.01 billion, a PE ratio of 271.15 and a beta of 3.12. The stock has a 50 day moving average of $56.64 and a 200-day moving average of $50.99.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). The business had revenue of $104.15 million for the quarter, compared to analysts’ expectations of $93.29 million. Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The business’s quarterly revenue was up 170.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.47) earnings per share. Equities analysts expect 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 firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $52.00, for a total value of $780,000.00. Following the sale, the chief executive officer now owns 43,014 shares of the company’s stock, valued at approximately $2,236,728. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Patrick R. O’neil sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $55.00, for a total value of $55,000.00. Following the completion of the sale, the senior vice president now directly owns 10,633 shares in the company, valued at approximately $584,815. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,636 shares of company stock valued at $5,665,565. Insiders own 2.13% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in IONS. Parallel Advisors LLC raised its stake in Ionis Pharmaceuticals by 62.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock valued at $109,000 after acquiring an additional 800 shares in the last quarter. Hanseatic Management Services Inc. raised its stake in Ionis Pharmaceuticals by 1.2% during the 2nd quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock valued at $177,000 after acquiring an additional 41 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Ionis Pharmaceuticals by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock valued at $190,000 after acquiring an additional 311 shares in the last quarter. WFG Advisors LP raised its stake in Ionis Pharmaceuticals by 77.2% during the 2nd quarter. WFG Advisors LP now owns 3,800 shares of the company’s stock valued at $193,000 after acquiring an additional 1,655 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Ionis Pharmaceuticals during the 2nd quarter valued at $222,000. 89.21% of the stock is currently owned by institutional investors and hedge funds.
About Ionis Pharmaceuticals
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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