Ionis Pharmaceuticals (NASDAQ:IONS) had its price target reduced by investment analysts at Piper Jaffray Companies from $75.00 to $70.00 in a report issued on Thursday, The Fly reports. The firm presently has a “neutral” rating on the stock. Piper Jaffray Companies’ target price suggests a potential upside of 22.68% from the company’s previous close. Piper Jaffray Companies also issued estimates for Ionis Pharmaceuticals’ Q3 2020 earnings at $0.05 EPS, Q1 2021 earnings at $0.35 EPS, Q2 2021 earnings at $0.40 EPS and Q3 2021 earnings at $0.40 EPS.
Several other brokerages have also issued reports on IONS. BMO Capital Markets reduced their price objective on shares of Ionis Pharmaceuticals from $96.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Evercore ISI set a $76.00 price target on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Wells Fargo & Co boosted their price target on shares of Ionis Pharmaceuticals from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. ValuEngine upgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Sanford C. Bernstein upgraded shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $73.45.
IONS traded up $1.71 on Thursday, hitting $57.06. 925,100 shares of the company’s stock were exchanged, compared to its average volume of 1,150,599. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 15.24 and a beta of 1.90. Ionis Pharmaceuticals has a fifty-two week low of $48.27 and a fifty-two week high of $86.58. The firm has a 50-day moving average price of $57.99 and a 200-day moving average price of $64.32. The company has a current ratio of 10.01, a quick ratio of 9.93 and a debt-to-equity ratio of 0.45.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.49. The firm had revenue of $168.00 million for the quarter, compared to analyst estimates of $152.47 million. Ionis Pharmaceuticals had a net margin of 49.90% and a return on equity of 38.70%. Ionis Pharmaceuticals’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. On average, equities analysts predict that Ionis Pharmaceuticals will post 0.25 EPS for the current year.
In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 22,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $71.52, for a total transaction of $1,573,440.00. Following the sale, the chairman now directly owns 79,634 shares in the company, valued at $5,695,423.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in IONS. Invesco Ltd. increased its stake in shares of Ionis Pharmaceuticals by 2,754.9% during the second quarter. Invesco Ltd. now owns 2,271,539 shares of the company’s stock worth $145,992,000 after buying an additional 2,191,974 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Ionis Pharmaceuticals during the second quarter worth approximately $112,814,000. BlackRock Inc. increased its stake in shares of Ionis Pharmaceuticals by 15.5% during the second quarter. BlackRock Inc. now owns 8,802,576 shares of the company’s stock worth $565,743,000 after buying an additional 1,181,004 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Ionis Pharmaceuticals by 357.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 805,100 shares of the company’s stock worth $51,744,000 after buying an additional 629,275 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in shares of Ionis Pharmaceuticals by 3,803.9% during the second quarter. Nuveen Asset Management LLC now owns 482,909 shares of the company’s stock worth $31,037,000 after buying an additional 470,539 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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