Ionis Pharmaceuticals, Inc. (IONS) Receives New Coverage from Analysts at Barclays PLC
Investment analysts at Barclays PLC began coverage on shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in a note issued to investors on Wednesday, MarketBeat.com reports. The firm set an “equal weight” rating and a $55.00 price target on the stock. Barclays PLC’s price objective would indicate a potential downside of 2.07% from the stock’s previous close.
A number of other research firms also recently commented on IONS. Evercore ISI assumed coverage on Ionis Pharmaceuticals in a report on Wednesday, August 16th. They issued an “outperform” rating and a $65.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of Ionis Pharmaceuticals in a report on Wednesday, July 26th. Cowen and Company reiterated a “market perform” rating on shares of Ionis Pharmaceuticals in a report on Monday, May 22nd. Stifel Nicolaus upped their price objective on Ionis Pharmaceuticals from $42.00 to $50.00 and gave the company a “hold” rating in a report on Wednesday, August 9th. Finally, Jefferies Group LLC reiterated an “underperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Ionis Pharmaceuticals in a report on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Ionis Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $49.31.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) traded down 0.48% during trading on Wednesday, reaching $56.16. The company had a trading volume of 724,232 shares. The firm has a market capitalization of $6.98 billion, a P/E ratio of 270.00 and a beta of 3.13. The company has a 50 day moving average of $50.98 and a 200-day moving average of $47.65. Ionis Pharmaceuticals has a 52-week low of $24.58 and a 52-week high of $60.01.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $0.03. Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The firm had revenue of $104.15 million for the quarter, compared to analyst estimates of $93.29 million. During the same period last year, the company earned ($0.47) EPS. The company’s revenue was up 170.7% compared to the same quarter last year. Equities analysts expect that Ionis Pharmaceuticals will post ($0.17) earnings per share for the current year.
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In other Ionis Pharmaceuticals news, major shareholder Ionis Pharmaceuticals Inc purchased 3,125,000 shares of the stock in a transaction on Wednesday, July 19th. The stock was bought at an average cost of $8.00 per share, for a total transaction of $25,000,000.00. Following the completion of the acquisition, the insider now directly owns 28,884,540 shares of the company’s stock, valued at $231,076,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP C Frank Bennett sold 10,000 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $59.29, for a total value of $592,900.00. Following the completion of the sale, the senior vice president now owns 25,041 shares of the company’s stock, valued at $1,484,680.89. The disclosure for this sale can be found here. Insiders sold 55,309 shares of company stock valued at $2,997,692 over the last 90 days. Corporate insiders own 1.86% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Nomura Holdings Inc. grew its holdings in shares of Ionis Pharmaceuticals by 105.7% during the first quarter. Nomura Holdings Inc. now owns 103,933 shares of the company’s stock worth $4,179,000 after buying an additional 53,395 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Ionis Pharmaceuticals by 56.1% during the first quarter. Wellington Management Group LLP now owns 9,360,553 shares of the company’s stock worth $376,295,000 after buying an additional 3,364,621 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Ionis Pharmaceuticals by 62.8% during 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. Credit Suisse AG grew its holdings in shares of Ionis Pharmaceuticals by 79.2% during the first quarter. Credit Suisse AG now owns 385,145 shares of the company’s stock worth $15,483,000 after buying an additional 170,192 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Ionis Pharmaceuticals by 19.0% during the first quarter. Pacer Advisors Inc. now owns 13,037 shares of the company’s stock worth $524,000 after buying an additional 2,085 shares in the last quarter. Institutional investors own 89.32% of the company’s stock.
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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