Ionis Pharmaceuticals (NASDAQ:IONS) was upgraded by equities research analysts at TheStreet from a “d+” rating to a “c-” rating in a research note issued to investors on Thursday.
IONS has been the topic of a number of other research reports. ValuEngine raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Leerink Swann started coverage on Ionis Pharmaceuticals in a research report on Tuesday, November 27th. They set a “market perform” rating and a $50.00 price target on the stock. Piper Jaffray Companies set a $50.00 price target on Ionis Pharmaceuticals and gave the stock a “hold” rating in a research report on Tuesday, November 6th. Morgan Stanley set a $46.00 price target on Ionis Pharmaceuticals and gave the stock a “hold” rating in a research report on Wednesday, November 7th. Finally, Stifel Nicolaus boosted their price target on Ionis Pharmaceuticals from $45.00 to $48.00 and gave the stock a “hold” rating in a research report on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $53.50.
NASDAQ IONS traded down $2.93 during trading on Thursday, reaching $53.12. 1,411,970 shares of the company’s stock were exchanged, compared to its average volume of 848,103. The company has a market cap of $7.71 billion, a PE ratio of 664.00 and a beta of 2.38. The company has a quick ratio of 7.96, a current ratio of 7.99 and a debt-to-equity ratio of 0.74. Ionis Pharmaceuticals has a fifty-two week low of $39.07 and a fifty-two week high of $59.81.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Tuesday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. The firm had revenue of $145.40 million for the quarter, compared to the consensus estimate of $146.77 million. Ionis Pharmaceuticals had a negative return on equity of 1.58% and a negative net margin of 7.52%. The business’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.02) earnings per share. As a group, research analysts anticipate that Ionis Pharmaceuticals will post -0.24 EPS for the current fiscal year.
In other news, SVP C Frank Bennett sold 12,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 31,896 shares in the company, valued at $1,580,127.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Brett P. Monia sold 34,000 shares of the business’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $55.00, for a total value of $1,870,000.00. Following the sale, the chief operating officer now owns 49,841 shares of the company’s stock, valued at approximately $2,741,255. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.
Several large investors have recently modified their holdings of IONS. Principal Financial Group Inc. boosted its holdings in shares of Ionis Pharmaceuticals by 4.0% during the first quarter. Principal Financial Group Inc. now owns 38,277 shares of the company’s stock worth $1,687,000 after acquiring an additional 1,479 shares during the period. Bank of Montreal Can boosted its holdings in shares of Ionis Pharmaceuticals by 7.3% during the second quarter. Bank of Montreal Can now owns 18,950 shares of the company’s stock worth $789,000 after acquiring an additional 1,288 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Ionis Pharmaceuticals by 23.5% during the second quarter. BNP Paribas Arbitrage SA now owns 17,137 shares of the company’s stock worth $714,000 after acquiring an additional 3,256 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Ionis Pharmaceuticals by 5.8% during the second quarter. Wells Fargo & Company MN now owns 1,208,703 shares of the company’s stock worth $50,366,000 after acquiring an additional 66,535 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Ionis Pharmaceuticals in the second quarter valued at approximately $1,215,000. Institutional investors own 85.13% of the company’s stock.
About Ionis Pharmaceuticals
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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