Ionis Pharmaceuticals Inc. (IONS) Earns “Outperform” Rating from BMO Capital Markets
Ionis Pharmaceuticals Inc. (NASDAQ:IONS)‘s stock had its “outperform” rating reaffirmed by research analysts at BMO Capital Markets in a note issued to investors on Monday. They presently have a $48.00 price objective on the stock. BMO Capital Markets’ target price points to a potential upside of 65.52% from the stock’s current price.
Other equities analysts have also issued research reports about the company. Cowen and Company reissued a “market perform” rating on shares of Ionis Pharmaceuticals in a research note on Saturday, August 13th. Morgan Stanley started coverage on Ionis Pharmaceuticals in a research note on Tuesday, August 2nd. They issued an “equal weight” rating and a $37.00 target price on the stock. Piper Jaffray Cos. increased their target price on Ionis Pharmaceuticals from $36.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, August 10th. Wells Fargo & Co. reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Friday, August 19th. Finally, Barclays PLC increased their target price on Ionis Pharmaceuticals from $26.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Ionis Pharmaceuticals has a consensus rating of “Hold” and an average target price of $42.92.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) traded up 0.66% during midday trading on Monday, hitting $29.19. The company had a trading volume of 661,548 shares. Ionis Pharmaceuticals has a 12-month low of $19.59 and a 12-month high of $65.34. The firm’s market capitalization is $3.53 billion. The firm’s 50-day moving average is $32.46 and its 200-day moving average is $32.04.
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Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the 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 had revenue of $38.50 million for the quarter, compared to analyst estimates of $38.52 million. The business’s revenue for the quarter was down 68.0% compared to the same quarter last year. On average, analysts predict that Ionis Pharmaceuticals will post ($1.11) earnings per share for the current fiscal year.
In other Ionis Pharmaceuticals news, COO B Lynne Parshall sold 12,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 25,558 shares in the company, valued at $763,673.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Stanley T. Crooke sold 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $36.02, for a total value of $792,440.00. Following the completion of the transaction, the chairman now owns 45,029 shares of the company’s stock, valued at $1,621,944.58. The disclosure for this sale can be found here. Corporate insiders own 1.86% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its position in Ionis Pharmaceuticals by 372.6% in the second quarter. AQR Capital Management LLC now owns 1,858,239 shares of the company’s stock worth $43,278,000 after buying an additional 1,465,004 shares in the last quarter. State Street Corp increased its position in Ionis Pharmaceuticals by 39.8% in the second quarter. State Street Corp now owns 4,246,911 shares of the company’s stock worth $98,915,000 after buying an additional 1,209,523 shares in the last quarter. Fiera Capital Corp bought a new position in Ionis Pharmaceuticals during the second quarter worth $22,326,000. BVF Inc. IL bought a new position in Ionis Pharmaceuticals during the second quarter worth $19,797,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in Ionis Pharmaceuticals during the second quarter worth $19,719,000. Hedge funds and other institutional investors own 89.65% 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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