Ionis Pharmaceuticals (NASDAQ:IONS) received a $46.00 price objective from Morgan Stanley in a report issued on Wednesday. The brokerage presently has a “hold” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 14.63% from the stock’s previous close.
Several other research analysts have also recently weighed in on IONS. Zacks Investment Research raised Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective on the stock in a research report on Tuesday, July 10th. Piper Jaffray Companies set a $50.00 price objective on Ionis Pharmaceuticals and gave the stock a “hold” rating in a research report on Wednesday, July 11th. Stifel Nicolaus dropped their price target on Ionis Pharmaceuticals from $55.00 to $48.00 and set a “hold” rating on the stock in a research report on Tuesday, August 7th. Finally, ValuEngine raised Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $54.00.
IONS stock traded up $0.23 during midday trading on Wednesday, hitting $53.88. The company’s stock had a trading volume of 643,666 shares, compared to its average volume of 1,192,375. The company has a current ratio of 8.38, a quick ratio of 8.34 and a debt-to-equity ratio of 0.76. Ionis Pharmaceuticals has a 1 year low of $39.07 and a 1 year high of $57.92. The stock has a market cap of $7.10 billion, a P/E ratio of 673.50 and a beta of 2.39.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Tuesday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.10. Ionis Pharmaceuticals had a negative return on equity of 1.22% and a negative net margin of 7.20%. The business had revenue of $145.40 million for the quarter, compared to analysts’ expectations of $146.77 million. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. The business’s revenue was up 22.9% on a year-over-year basis. As a group, analysts forecast that Ionis Pharmaceuticals will post -0.15 earnings per share for the current fiscal year.
In other news, SVP C Frank Bennett sold 12,500 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $49.54, for a total transaction of $619,250.00. Following the transaction, the senior vice president now owns 31,896 shares of the company’s stock, valued at approximately $1,580,127.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brett P. Monia sold 16,493 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $54.00, for a total value of $890,622.00. Following the transaction, the chief operating officer now directly owns 24,834 shares in the company, valued at approximately $1,341,036. The disclosure for this sale can be found here. 2.44% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. ARK Investment Management LLC raised its stake in shares of Ionis Pharmaceuticals by 7.6% during the 3rd quarter. ARK Investment Management LLC now owns 229,318 shares of the company’s stock valued at $11,828,000 after purchasing an additional 16,191 shares during the period. Whitener Capital Management Inc. bought a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter valued at $339,000. Lincoln National Corp raised its stake in shares of Ionis Pharmaceuticals by 18.3% during the 3rd quarter. Lincoln National Corp now owns 19,141 shares of the company’s stock valued at $987,000 after purchasing an additional 2,959 shares during the period. Motley Fool Wealth Management LLC raised its stake in shares of Ionis Pharmaceuticals by 0.3% during the 3rd quarter. Motley Fool Wealth Management LLC now owns 536,670 shares of the company’s stock valued at $27,681,000 after purchasing an additional 1,374 shares during the period. Finally, IFG Advisory LLC bought a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter valued at $225,000. 86.35% of the stock is currently owned by hedge funds and other institutional investors.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.
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