Ionis Pharmaceuticals, Inc. (IONS) Research Coverage Started at Evercore ISI
Analysts at Evercore ISI assumed coverage on shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in a research note issued on Wednesday. The brokerage set an “outperform” rating and a $65.00 price target on the stock. Evercore ISI’s price target would indicate a potential upside of 37.10% from the company’s current price.
Several other equities research analysts have also recently weighed in on IONS. BMO Capital Markets reiterated an “outperform” rating and issued a $59.00 target price on shares of Ionis Pharmaceuticals in a report on Wednesday, April 26th. Piper Jaffray Companies set a $51.00 target price on Ionis Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, May 10th. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 target price on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. Leerink Swann reiterated an “outperform” rating and issued a $45.00 target price (down from $47.00) on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. Finally, Cowen and Company restated a “market perform” rating on shares of Ionis Pharmaceuticals in a research note on Monday, May 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Ionis Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $48.91.
Ionis Pharmaceuticals (NASDAQ:IONS) opened at 47.41 on Wednesday. Ionis Pharmaceuticals has a 12-month low of $24.58 and a 12-month high of $60.01. The firm has a 50-day moving average price of $51.89 and a 200-day moving average price of $47.05. The company has a market cap of $5.90 billion, a P/E ratio of 227.93 and a beta of 3.14.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The firm had revenue of $104.15 million during the quarter, compared to analysts’ expectations of $93.29 million. During the same quarter in the prior year, the company posted ($0.47) earnings per share. Ionis Pharmaceuticals’s quarterly revenue was up 170.7% compared to the same quarter last year. On average, equities research analysts forecast that Ionis Pharmaceuticals will post ($0.18) earnings per share for the current fiscal year.
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In related news, Chairman Stanley T. Crooke sold 16,500 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $52.10, for a total transaction of $859,650.00. Following the transaction, the chairman now directly owns 51,476 shares of the company’s stock, valued at approximately $2,681,899.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ionis Pharmaceuticals Inc bought 3,125,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, July 19th. The shares were acquired at an average cost of $8.00 per share, for a total transaction of $25,000,000.00. Following the completion of the transaction, the insider now directly owns 28,884,540 shares in the company, valued at $231,076,320. The disclosure for this purchase can be found here. Insiders have sold a total of 54,379 shares of company stock worth $2,946,052 over the last ninety days. 1.86% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its position in shares of Ionis Pharmaceuticals by 62.8% in the second quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock worth $109,000 after buying an additional 800 shares in the last quarter. Hanseatic Management Services Inc. purchased a new position in shares of Ionis Pharmaceuticals during the first quarter worth $138,000. Westpac Banking Corp purchased a new position in shares of Ionis Pharmaceuticals during the first quarter worth $171,000. The Manufacturers Life Insurance Company raised its position in shares of Ionis Pharmaceuticals by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock worth $190,000 after buying an additional 311 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of 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 in the last quarter. 89.08% of the stock is currently owned by institutional investors.
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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