Ionis Pharmaceuticals Inc. (IONS) Lowered to Sell at Zacks Investment Research
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “Ionis Pharmaceuticals, Inc. is a RNA-targeted drug discovery and development company which focuses on developing drugs for severe and rare diseases. Ionis Pharmaceuticals, Inc., formerly known as Isis Pharmaceuticals, Inc., is headquartered in Carlsbad, California. “
Other analysts also recently issued reports about the stock. Cowen and Company restated a “buy” rating on shares of Ionis Pharmaceuticals in a research report on Wednesday, August 3rd. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday, July 8th. Wells Fargo & Co. restated a “buy” rating on shares of Ionis Pharmaceuticals in a research report on Sunday, September 11th. Janney Montgomery Scott started coverage on shares of Ionis Pharmaceuticals in a research report on Wednesday, September 28th. They set a “buy” rating and a $47.00 price objective on the stock. Finally, Barclays PLC raised their price objective on shares of Ionis Pharmaceuticals from $26.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 2nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $42.92.
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Ionis Pharmaceuticals (NASDAQ:IONS) traded down 0.45% during mid-day trading on Monday, reaching $28.87. 1,254,823 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $32.40 and its 200 day moving average price is $31.86. The firm’s market cap is $3.49 billion. Ionis Pharmaceuticals has a one year low of $19.59 and a one year high of $65.34.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.05. The business had revenue of $38.50 million for the quarter, compared to analysts’ expectations of $38.52 million. Ionis Pharmaceuticals had a negative net margin of 128.94% and a negative return on equity of 126.88%. The business’s quarterly revenue was down 68.0% compared to the same quarter last year. On average, equities analysts forecast that Ionis Pharmaceuticals will post ($1.11) EPS for the current year.
In related news, Chairman Stanley T. Crooke sold 22,000 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $35.50, for a total transaction of $781,000.00. Following the completion of the transaction, the chairman now directly owns 45,029 shares of the company’s stock, valued at approximately $1,598,529.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Stanley T. Crooke sold 11,000 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $36.61, for a total transaction of $402,710.00. Following the transaction, the chairman now directly owns 35,029 shares of the company’s stock, valued at $1,282,411.69. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Parametric Risk Advisors LLC purchased a new position in Ionis Pharmaceuticals during the first quarter worth approximately $106,000. Opera Trading Capital boosted its position in Ionis Pharmaceuticals by 150.0% in the first quarter. Opera Trading Capital now owns 2,892 shares of the company’s stock worth $117,000 after buying an additional 1,735 shares in the last quarter. Rockefeller Financial Services Inc. purchased a new position in Ionis Pharmaceuticals during the second quarter worth approximately $114,000. US Bancorp DE boosted its position in Ionis Pharmaceuticals by 37.8% in the second quarter. US Bancorp DE now owns 5,952 shares of the company’s stock worth $139,000 after buying an additional 1,634 shares in the last quarter. Finally, Gofen & Glossberg LLC IL purchased a new position in Ionis Pharmaceuticals during the third quarter worth approximately $247,000. 89.65% of the stock is owned by hedge funds and other institutional investors.
Ionis Pharmaceuticals Company Profile
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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