Benchmark started coverage on shares of Ionis Pharmaceuticals (NASDAQ:IONS) in a research report sent to investors on Wednesday, Benzinga reports. The firm issued a hold rating on the stock.
A number of other brokerages have also recently commented on IONS. Citigroup decreased their target price on shares of Ionis Pharmaceuticals from $80.00 to $78.00 and set a buy rating on the stock in a research report on Monday, August 10th. BidaskClub lowered shares of Ionis Pharmaceuticals from a sell rating to a strong sell rating in a report on Thursday, August 13th. SVB Leerink raised their price target on shares of Ionis Pharmaceuticals from $54.00 to $56.00 and gave the stock a market perform rating in a report on Tuesday. Morgan Stanley cut their price target on shares of Ionis Pharmaceuticals from $56.00 to $54.00 and set an underweight rating on the stock in a report on Thursday, August 6th. Finally, Needham & Company LLC raised their price target on shares of Ionis Pharmaceuticals from $89.00 to $91.00 and gave the stock a buy rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Ionis Pharmaceuticals currently has a consensus rating of Hold and an average target price of $71.80.
Shares of NASDAQ:IONS opened at $55.06 on Wednesday. The stock has a market cap of $7.58 billion, a PE ratio of 48.03 and a beta of 1.52. The company’s fifty day moving average is $56.51 and its 200 day moving average is $55.28. Ionis Pharmaceuticals has a 52 week low of $39.32 and a 52 week high of $67.31. The company has a quick ratio of 10.84, a current ratio of 10.94 and a debt-to-equity ratio of 0.50.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Wednesday, August 5th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. The company had revenue of $146.00 million for the quarter, compared to analysts’ expectations of $148.87 million. Ionis Pharmaceuticals had a net margin of 13.81% and a return on equity of 10.27%. The firm’s revenue was down 11.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) EPS. Sell-side analysts anticipate that Ionis Pharmaceuticals will post -0.51 EPS for the current year.
In related news, Director Breaux Castleman sold 10,000 shares of Ionis Pharmaceuticals stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director now directly owns 25,183 shares of the company’s stock, valued at approximately $1,510,980. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Stanley T. Crooke sold 15,000 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $57.90, for a total transaction of $868,500.00. Following the completion of the transaction, the chairman now directly owns 26,935 shares of the company’s stock, valued at $1,559,536.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,314 shares of company stock valued at $4,140,612. 2.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of IONS. Comerica Bank raised its holdings in Ionis Pharmaceuticals by 2.5% in the first quarter. Comerica Bank now owns 16,279 shares of the company’s stock worth $946,000 after buying an additional 400 shares during the last quarter. SG Americas Securities LLC raised its holdings in Ionis Pharmaceuticals by 53.1% in the first quarter. SG Americas Securities LLC now owns 12,503 shares of the company’s stock worth $591,000 after buying an additional 4,338 shares during the last quarter. Natixis Advisors L.P. raised its holdings in Ionis Pharmaceuticals by 0.6% in the first quarter. Natixis Advisors L.P. now owns 139,707 shares of the company’s stock worth $6,605,000 after buying an additional 825 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in Ionis Pharmaceuticals in the first quarter worth about $225,000. Finally, Victory Capital Management Inc. raised its holdings in Ionis Pharmaceuticals by 11.8% in the first quarter. Victory Capital Management Inc. now owns 17,737 shares of the company’s stock worth $839,000 after buying an additional 1,866 shares during the last quarter. 85.39% of the stock is owned by institutional investors and hedge funds.
Ionis Pharmaceuticals Company Profile
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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