Ionis Pharmaceuticals, Inc. (IONS) Stock Rating Reaffirmed by Needham & Company LLC
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued to investors on Sunday. They currently have a $64.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 8.05% from the stock’s previous close.
Several other equities research analysts have also commented on IONS. Stifel Nicolaus reiterated a “hold” rating on shares of Ionis Pharmaceuticals in a research report on Tuesday, September 12th. Jefferies Group LLC reiterated an “underperform” rating and issued a $18.00 price objective (up from $17.00) on shares of Ionis Pharmaceuticals in a research report on Thursday, August 10th. Laidlaw reiterated a “buy” rating and issued a $65.00 price objective on shares of Ionis Pharmaceuticals in a research report on Monday, August 14th. Sanford C. Bernstein began coverage on shares of Ionis Pharmaceuticals in a research report on Thursday, July 27th. They issued a “market perform” rating and a $57.00 price objective on the stock. Finally, BMO Capital Markets boosted their price objective on shares of Ionis Pharmaceuticals from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, August 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $49.31.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) opened at 59.23 on Friday. The firm has a market capitalization of $7.37 billion, a PE ratio of 284.76 and a beta of 3.13. The stock has a 50 day moving average of $51.34 and a 200-day moving average of $48.10. Ionis Pharmaceuticals has a 12 month low of $24.58 and a 12 month high of $60.01.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing the 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 business 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 firm earned ($0.47) earnings per share. Ionis Pharmaceuticals’s quarterly revenue was up 170.7% on a year-over-year basis. On average, equities research analysts anticipate that Ionis Pharmaceuticals will post ($0.17) EPS for the current fiscal year.
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In other Ionis Pharmaceuticals news, SVP Patrick R. O’neil sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $55.00, for a total value of $55,000.00. Following the transaction, the senior vice president now directly owns 10,633 shares in the company, valued at approximately $584,815. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP C Frank Bennett sold 10,000 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $59.29, for a total transaction of $592,900.00. Following the transaction, the senior vice president now directly owns 25,041 shares of the company’s stock, valued at approximately $1,484,680.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,309 shares of company stock worth $2,997,692. 1.86% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in shares of Ionis Pharmaceuticals by 62.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock valued at $109,000 after acquiring an additional 800 shares during the last quarter. Hanseatic Management Services Inc. increased its stake in shares of Ionis Pharmaceuticals by 1.2% during the 2nd quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock valued at $177,000 after acquiring an additional 41 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Ionis Pharmaceuticals by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock valued at $190,000 after acquiring an additional 311 shares during the last quarter. WFG Advisors LP increased its stake in shares of Ionis Pharmaceuticals by 77.2% during the 2nd quarter. WFG Advisors LP now owns 3,800 shares of the company’s stock valued at $193,000 after acquiring an additional 1,655 shares during the last quarter. Finally, Westpac Banking Corp acquired a new position in shares of Ionis Pharmaceuticals during the 1st quarter valued at about $171,000. 89.33% of the stock is 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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