Ionis Pharmaceuticals, Inc. (IONS) Given Average Recommendation of “Hold” by Brokerages
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) has received an average rating of “Hold” from the seventeen analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $49.64.
A number of research firms have recently commented on IONS. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a research note on Friday, October 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 target price on shares of Ionis Pharmaceuticals in a report on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $50.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, October 13th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $30.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, October 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Ionis Pharmaceuticals in a report on Monday, October 2nd.
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In other Ionis Pharmaceuticals news, COO B Lynne Parshall sold 16,118 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $65.00, for a total value of $1,047,670.00. Following the transaction, the chief operating officer now directly owns 33,526 shares of the company’s stock, valued at approximately $2,179,190. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stanley T. Crooke sold 15,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $52.00, for a total transaction of $780,000.00. Following the completion of the transaction, the chief executive officer now directly owns 43,014 shares in the company, valued at $2,236,728. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,636 shares of company stock worth $5,665,565. Insiders own 2.13% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its holdings in Ionis Pharmaceuticals by 62.8% in 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 period. Hanseatic Management Services Inc. raised its holdings in Ionis Pharmaceuticals by 1.2% in 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 period. The Manufacturers Life Insurance Company raised its holdings in Ionis Pharmaceuticals by 9.1% in 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 period. WFG Advisors LP raised its holdings in Ionis Pharmaceuticals by 77.2% in 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 period. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Ionis Pharmaceuticals in the 2nd quarter valued at about $222,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.
Ionis Pharmaceuticals (IONS) traded up 1.30% during trading on Wednesday, reaching $57.85. The company’s stock had a trading volume of 596,694 shares. The company’s 50 day moving average price is $56.68 and its 200 day moving average price is $51.46. The company has a market cap of $7.19 billion, a P/E ratio of 278.12 and a beta of 3.12. Ionis Pharmaceuticals has a 52 week low of $24.58 and a 52 week high of $65.51.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data 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 business had revenue of $104.15 million for the quarter, compared to analyst estimates of $93.29 million. During the same quarter in the prior year, the company earned ($0.47) earnings per share. The company’s quarterly revenue was up 170.7% on a year-over-year basis. On average, equities analysts anticipate that Ionis Pharmaceuticals will post ($0.14) earnings per share for the current fiscal year.
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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