Ionis Pharmaceuticals, Inc. (IONS) Stock Rating Upgraded by Zacks Investment Research
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Friday. The firm currently has a $62.00 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.93% from the stock’s previous close.
According to Zacks, “Ionis Pharmaceuticals, Inc. is a RNA-targeted drug discovery and development company which focuses on developing drugs for severe and rare diseases. Ionis Pharmaceuticals, Inc., formerly known as Isis Pharmaceuticals, Inc., is headquartered in Carlsbad, California. “
A number of other equities analysts have also recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $64.00 price target on shares of Ionis Pharmaceuticals in a research note on Tuesday, October 17th. Stifel Nicolaus reissued a “hold” rating and issued a $50.00 price target on shares of Ionis Pharmaceuticals in a research note on Friday, October 13th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $30.00 price target on shares of Ionis Pharmaceuticals in a research note on Friday, October 6th. BMO Capital Markets reissued an “outperform” rating and issued a $69.00 price target on shares of Ionis Pharmaceuticals in a research note on Monday, October 2nd. Finally, Barclays PLC cut their price target on shares of Ionis Pharmaceuticals from $55.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $49.64.
Shares of Ionis Pharmaceuticals (NASDAQ IONS) traded up 3.83% during trading on Friday, reaching $56.40. 1,483,919 shares of the company traded hands. The stock has a market capitalization of $7.01 billion, a PE ratio of 271.15 and a beta of 3.12. The firm’s 50-day moving average is $56.64 and its 200-day moving average is $50.99. Ionis Pharmaceuticals has a 12-month low of $24.58 and a 12-month high of $65.51.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing the Zacks’ 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 company had revenue of $104.15 million during the quarter, compared to analysts’ expectations of $93.29 million. During the same period in the prior year, the firm earned ($0.47) EPS. Ionis Pharmaceuticals’s quarterly revenue was up 170.7% on a year-over-year basis. On average, equities analysts predict that Ionis Pharmaceuticals will post ($0.17) earnings per share for the current fiscal year.
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In related news, Chairman Stanley T. Crooke sold 27,500 shares of the company’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $52.89, for a total transaction of $1,454,475.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO B Lynne Parshall sold 16,118 shares of the company’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $65.00, for a total transaction of $1,047,670.00. Following the sale, the chief operating officer now owns 33,526 shares of the company’s stock, valued at $2,179,190. The disclosure for this sale can be found here. Insiders have sold a total of 97,636 shares of company stock valued at $5,665,565 over the last quarter. 2.13% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its holdings in 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 buying an additional 800 shares during the last quarter. Aviva PLC bought a new stake in Ionis Pharmaceuticals during the 2nd quarter valued at $10,187,000. Credit Suisse AG raised its holdings in Ionis Pharmaceuticals by 79.2% during the 1st quarter. Credit Suisse AG now owns 385,145 shares of the company’s stock valued at $15,483,000 after buying an additional 170,192 shares during the last quarter. Allen Investment Management LLC raised its holdings in Ionis Pharmaceuticals by 64.7% during the 2nd quarter. Allen Investment Management LLC now owns 15,652 shares of the company’s stock valued at $796,000 after buying an additional 6,147 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Ionis Pharmaceuticals by 21.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 20,077 shares of the company’s stock valued at $1,021,000 after buying an additional 3,538 shares during the last quarter. Institutional investors own 89.21% 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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