Ionis Pharmaceuticals (NASDAQ:IONS) has been given a $50.00 target price by investment analysts at Piper Jaffray Companies in a research note issued on Wednesday. The firm presently has a “hold” rating on the stock. Piper Jaffray Companies’ price objective points to a potential upside of 10.69% from the company’s previous close.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective on the stock in a research report on Tuesday. Barclays cut shares of Ionis Pharmaceuticals from an “equal weight” rating to an “underweight” rating and set a $52.00 price objective on the stock. in a research report on Wednesday, June 20th. ValuEngine cut shares of Ionis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 8th. Morgan Stanley decreased their price objective on shares of Ionis Pharmaceuticals to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, May 7th. Finally, Stifel Nicolaus decreased their price objective on shares of Ionis Pharmaceuticals to $57.00 and set a “hold” rating on the stock in a research report on Monday, May 7th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $52.92.
Shares of IONS traded up $0.22 during midday trading on Wednesday, hitting $45.17. 755,524 shares of the company traded hands, compared to its average volume of 1,137,019. Ionis Pharmaceuticals has a one year low of $39.07 and a one year high of $65.51. The stock has a market cap of $5.67 billion, a PE ratio of 564.63 and a beta of 2.63. The company has a quick ratio of 5.33, a current ratio of 5.38 and a debt-to-equity ratio of 1.59.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Friday, May 4th. The company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.10. The company had revenue of $144.40 million for the quarter, compared to analysts’ expectations of $144.01 million. Ionis Pharmaceuticals had a negative net margin of 2.00% and a negative return on equity of 3.06%. Ionis Pharmaceuticals’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. analysts expect that Ionis Pharmaceuticals will post -0.04 earnings per share for the current fiscal year.
In other Ionis Pharmaceuticals news, Director Frederick T. Muto sold 15,000 shares of the stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $46.45, for a total transaction of $696,750.00. Following the transaction, the director now directly owns 22,127 shares in the company, valued at $1,027,799.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Stanley T. Crooke sold 13,962 shares of the stock in a transaction that occurred on Tuesday, April 17th. The shares were sold at an average price of $44.40, for a total transaction of $619,912.80. Following the transaction, the chairman now owns 56,714 shares in the company, valued at $2,518,101.60. The disclosure for this sale can be found here. Insiders have sold 71,462 shares of company stock worth $3,193,313 over the last quarter. Company insiders own 2.44% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its position in Ionis Pharmaceuticals by 2.1% during the first quarter. FMR LLC now owns 18,562,420 shares of the company’s stock valued at $746,210,000 after acquiring an additional 381,975 shares during the last quarter. Mackay Shields purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter valued at approximately $11,549,000. Vanguard Group Inc. boosted its stake in shares of Ionis Pharmaceuticals by 4.4% during the second quarter. Vanguard Group Inc. now owns 9,855,160 shares of the company’s stock valued at $501,332,000 after purchasing an additional 417,364 shares during the period. Clearbridge Investments LLC purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter valued at approximately $586,768,000. Finally, Wellington Management Group LLP boosted its stake 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 valued at $376,295,000 after purchasing an additional 3,364,621 shares during the period. Institutional investors and hedge funds own 91.07% of the company’s stock.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.
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