Ionis Pharmaceuticals Inc (NASDAQ:IONS) has earned an average rating of “Hold” from the twenty ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $74.00.
IONS has been the subject of a number of analyst reports. Citigroup reduced their price objective on Ionis Pharmaceuticals from $74.00 to $78.00 in a research report on Tuesday, September 8th. Royal Bank of Canada boosted their price objective on Ionis Pharmaceuticals from $71.00 to $73.00 in a research note on Tuesday, September 1st. Oppenheimer cut their target price on Ionis Pharmaceuticals from $74.00 to $69.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 1st. Benchmark assumed coverage on Ionis Pharmaceuticals in a research report on Wednesday, September 2nd. They set a “hold” rating on the stock. Finally, BidaskClub downgraded Ionis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 13th.
In related news, Chairman Stanley T. Crooke sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $58.80, for a total transaction of $294,000.00. Following the sale, the chairman now directly owns 11,935 shares in the company, valued at approximately $701,778. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Stanley T. Crooke sold 10,000 shares of the stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $58.33, for a total value of $583,300.00. Following the sale, the chairman now owns 26,935 shares in the company, valued at $1,571,118.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,314 shares of company stock valued at $3,272,112. 2.67% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale increased its position in shares of Ionis Pharmaceuticals by 2.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 8,078 shares of the company’s stock valued at $476,000 after acquiring an additional 179 shares during the period. M&T Bank Corp increased its stake in shares of Ionis Pharmaceuticals by 1.6% during the second quarter. M&T Bank Corp now owns 12,957 shares of the company’s stock worth $765,000 after buying an additional 198 shares during the period. Balentine LLC increased its stake in shares of Ionis Pharmaceuticals by 39.4% during the second quarter. Balentine LLC now owns 845 shares of the company’s stock worth $50,000 after buying an additional 239 shares during the period. HighTower Advisors LLC increased its stake in shares of Ionis Pharmaceuticals by 2.4% during the first quarter. HighTower Advisors LLC now owns 12,178 shares of the company’s stock worth $570,000 after buying an additional 289 shares during the period. Finally, US Bancorp DE increased its stake in shares of Ionis Pharmaceuticals by 14.8% during the first quarter. US Bancorp DE now owns 2,279 shares of the company’s stock worth $107,000 after buying an additional 294 shares during the period. Hedge funds and other institutional investors own 85.39% of the company’s stock.
Shares of NASDAQ IONS traded down $0.13 during midday trading on Wednesday, hitting $52.80. The stock had a trading volume of 485 shares, compared to its average volume of 859,623. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 60.15 and a beta of 1.52. 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 has a 1-year low of $39.32 and a 1-year high of $66.25. The company has a fifty day moving average price of $54.65 and a 200 day moving average price of $54.89.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.05. Ionis Pharmaceuticals had a return on equity of 10.27% and a net margin of 13.81%. The company had revenue of $146.00 million for the quarter, compared to the consensus estimate of $148.87 million. During the same period in the previous year, the business earned ($0.01) EPS. Ionis Pharmaceuticals’s revenue for the quarter was down 11.0% compared to the same quarter last year. On average, research analysts forecast that Ionis Pharmaceuticals will post -0.57 EPS for the current year.
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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