Ionis Pharmaceuticals’ (IONS) “Market Perform” Rating Reiterated at Cowen and Company
Ionis Pharmaceuticals Inc (NASDAQ:IONS)‘s stock had its “market perform” rating reissued by stock analysts at Cowen and Company in a research note issued on Monday.
A number of other research analysts have also issued reports on IONS. Leerink Swann reissued an “outperform” rating and issued a $45.00 target price (down previously from $47.00) on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. Needham & Company LLC reissued a “buy” rating and issued a $64.00 target price on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. BMO Capital Markets reissued a “positive” rating and issued a $63.00 target price on shares of Ionis Pharmaceuticals in a report on Tuesday, February 14th. Piper Jaffray Companies set a $51.00 price target on Ionis Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, May 10th. Finally, Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Monday, February 13th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $42.13.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) traded up 0.96% on Monday, hitting $43.97. The stock had a trading volume of 182,589 shares. The stock’s market cap is $5.45 billion. The firm has a 50 day moving average of $43.64 and a 200 day moving average of $44.42. Ionis Pharmaceuticals has a 12 month low of $19.59 and a 12 month high of $57.00.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Tuesday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.13. The business had revenue of $110.30 million for the quarter, compared to analyst estimates of $86.03 million. Ionis Pharmaceuticals had a negative return on equity of 120.60% and a negative net margin of 77.30%. The company’s revenue for the quarter was up 199.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.52) earnings per share. On average, equities analysts forecast that Ionis Pharmaceuticals will post ($0.36) earnings per share for the current fiscal year.
In other Ionis Pharmaceuticals news, SVP Patrick R. O’neil sold 650 shares of the business’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $48.75, for a total transaction of $31,687.50. Following the sale, the senior vice president now directly owns 10,299 shares in the company, valued at $502,076.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP C Frank Bennett sold 5,000 shares of the business’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the sale, the senior vice president now owns 19,788 shares in the company, valued at $1,088,340. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,275 shares of company stock worth $2,592,940. 1.86% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Hanseatic Management Services Inc. purchased a new stake in Ionis Pharmaceuticals during the first quarter worth approximately $138,000. Massey Quick & Co. LLC purchased a new stake in Ionis Pharmaceuticals during the fourth quarter worth approximately $143,000. Westpac Banking Corp purchased a new stake in Ionis Pharmaceuticals during the first quarter worth approximately $171,000. Soros Fund Management LLC purchased a new stake in Ionis Pharmaceuticals during the fourth quarter worth approximately $206,000. Finally, Capstone Asset Management Co. increased its stake in Ionis Pharmaceuticals by 10.3% in the first quarter. Capstone Asset Management Co. now owns 5,148 shares of the company’s stock worth $207,000 after buying an additional 480 shares during the last quarter. Institutional investors own 87.76% of the company’s stock.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.
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