Ionis Pharmaceuticals Inc. (IONS) Stock Price Up 5.3%
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) rose 5.3% during trading on Tuesday . The stock traded as high as $33.50 and last traded at $33.31, with a volume of 1,120,502 shares traded. The stock had previously closed at $31.64.
IONS has been the topic of several research analyst reports. Wells Fargo & Co. restated an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Friday, August 19th. Needham & Company LLC restated a “buy” rating and set a $55.00 target price (down from $88.00) on shares of Ionis Pharmaceuticals in a research report on Thursday, May 26th. JPMorgan Chase & Co. decreased their target price on shares of Ionis Pharmaceuticals from $53.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, May 27th. BMO Capital Markets restated a “market perform” rating and set a $26.00 target price on shares of Ionis Pharmaceuticals in a research report on Tuesday, June 7th. Finally, Jefferies Group restated an “underperform” rating and set a $12.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, July 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Ionis Pharmaceuticals presently has an average rating of “Hold” and an average price target of $41.82.
The stock has a 50 day moving average price of $32.86 and a 200 day moving average price of $32.55. The stock’s market capitalization is $4.06 billion.
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Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.05. Ionis Pharmaceuticals had a negative return on equity of 126.88% and a negative net margin of 128.94%. The business earned $38.50 million during the quarter, compared to analysts’ expectations of $38.52 million. The business’s quarterly revenue was down 68.0% compared to the same quarter last year. On average, equities analysts expect that Ionis Pharmaceuticals Inc. will post ($1.07) earnings per share for the current fiscal year.
In related news, COO B Lynne Parshall sold 12,500 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $29.88, for a total value of $373,500.00. Following the completion of the transaction, the chief operating officer now owns 25,558 shares in the company, valued at approximately $763,673.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.86% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Ionis Pharmaceuticals by 4.4% in the first quarter. Geode Capital Management LLC now owns 760,951 shares of the company’s stock worth $30,802,000 after buying an additional 31,981 shares during the period. State Street Corp raised its position in Ionis Pharmaceuticals by 15.7% in the first quarter. State Street Corp now owns 3,037,388 shares of the company’s stock worth $123,010,000 after buying an additional 412,515 shares during the period. Broderick Brian C raised its position in Ionis Pharmaceuticals by 25.4% in the second quarter. Broderick Brian C now owns 24,444 shares of the company’s stock worth $570,000 after buying an additional 4,949 shares during the period. Motley Fool Asset Management LLC raised its position in Ionis Pharmaceuticals by 600.0% in the first quarter. Motley Fool Asset Management LLC now owns 140,000 shares of the company’s stock worth $5,670,000 after buying an additional 120,000 shares during the period. Finally, Motley Fool Wealth Management LLC raised its position in Ionis Pharmaceuticals by 51.1% in the first quarter. Motley Fool Wealth Management LLC now owns 166,513 shares of the company’s stock worth $6,744,000 after buying an additional 56,320 shares during the period. Institutional investors and hedge funds own 89.58% of the company’s stock.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
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