Ionis Pharmaceuticals, Inc. (IONS) Given Consensus Recommendation of “Hold” by Analysts
Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) have been given a consensus recommendation of “Hold” by the fifteen research firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $43.39.
IONS has been the topic of several recent research reports. Cowen and Company reaffirmed a “market perform” rating on shares of Ionis Pharmaceuticals in a report on Monday, May 22nd. BMO Capital Markets upped their price target on shares of Ionis Pharmaceuticals from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, May 11th. Vetr downgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating and set a $37.67 price target on the stock. in a report on Monday, April 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price target on shares of Ionis Pharmaceuticals in a report on Monday, March 6th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Ionis Pharmaceuticals from a “neutral” rating to a “sell” rating and reduced their price target for the company from $28.00 to $25.00 in a report on Friday, March 10th.
Ionis Pharmaceuticals (NASDAQ IONS) traded down 1.21% during midday trading on Tuesday, hitting $54.83. 350,567 shares of the stock traded hands. The company’s market cap is $6.80 billion. The company’s 50 day moving average is $47.29 and its 200-day moving average is $45.74. Ionis Pharmaceuticals has a one year low of $20.49 and a one year high of $57.00.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, May 9th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.13. The firm had revenue of $110.30 million for the quarter, compared to the consensus estimate of $86.03 million. Ionis Pharmaceuticals had a negative net margin of 4.80% and a negative return on equity of 14.61%. The firm’s revenue was up 199.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.52) earnings per share. On average, equities research analysts forecast that Ionis Pharmaceuticals will post ($0.39) EPS for the current fiscal year.
In related news, SVP Patrick R. O’neil sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $40.07, for a total transaction of $40,070.00. Following the completion of the transaction, the senior vice president now owns 10,449 shares of the company’s stock, valued at $418,691.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Stanley T. Crooke sold 22,000 shares of the stock in a transaction on Thursday, April 13th. The stock was sold at an average price of $40.69, for a total transaction of $895,180.00. Following the completion of the sale, the chairman now directly owns 48,014 shares of the company’s stock, valued at approximately $1,953,689.66. The disclosure for this sale can be found here. Insiders have sold 46,220 shares of company stock valued at $2,019,538 in the last ninety days. 1.86% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Ionis Pharmaceuticals by 2.1% in the first quarter. FMR LLC now owns 18,562,420 shares of the company’s stock valued at $746,210,000 after buying an additional 381,975 shares during the last quarter. Vanguard Group Inc. raised its stake in Ionis Pharmaceuticals by 4.3% in the first quarter. Vanguard Group Inc. now owns 9,437,796 shares of the company’s stock valued at $379,399,000 after buying an additional 384,830 shares during the last quarter. Wellington Management Group LLP raised its stake in Ionis Pharmaceuticals by 56.1% in the first quarter. Wellington Management Group LLP now owns 9,360,553 shares of the company’s stock valued at $376,295,000 after buying an additional 3,364,621 shares during the last quarter. BB Biotech AG raised its stake in Ionis Pharmaceuticals by 7.9% in the first quarter. BB Biotech AG now owns 7,461,295 shares of the company’s stock valued at $299,944,000 after buying an additional 548,123 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Ionis Pharmaceuticals by 37,569.7% in the first quarter. BlackRock Inc. now owns 6,559,808 shares of the company’s stock valued at $263,704,000 after buying an additional 6,542,394 shares during the last quarter. 88.73% of the stock is owned by institutional investors.
About Ionis Pharmaceuticals
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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