Ionis Pharmaceuticals Inc (NASDAQ:IONS) – Jefferies Financial Group issued their Q3 2020 earnings estimates for shares of Ionis Pharmaceuticals in a research report issued on Wednesday, November 6th. Jefferies Financial Group analyst E. Yang expects that the company will post earnings per share of $0.10 for the quarter. Jefferies Financial Group also issued estimates for Ionis Pharmaceuticals’ Q4 2020 earnings at $0.14 EPS.
A number of other analysts have also weighed in on the stock. TheStreet lowered shares of Ionis Pharmaceuticals from a “b-” rating to a “c” rating in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Ionis Pharmaceuticals in a research note on Thursday. Zacks Investment Research lowered shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Wells Fargo & Co upped their price objective on shares of Ionis Pharmaceuticals from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley lowered shares of Ionis Pharmaceuticals from an “equal” rating to a “weight” rating and lowered their price objective for the stock from $63.00 to $48.00 in a research note on Thursday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $73.45.
NASDAQ:IONS traded up $1.71 during mid-day trading on Friday, reaching $57.06. The company’s stock had a trading volume of 925,100 shares, compared to its average volume of 1,150,599. Ionis Pharmaceuticals has a 1 year low of $48.27 and a 1 year high of $86.58. The stock has a fifty day moving average of $58.11 and a 200-day moving average of $64.40. The firm has a market capitalization of $7.64 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 15.24 and a beta of 1.90. The company has a quick ratio of 9.93, a current ratio of 10.01 and a debt-to-equity ratio of 0.45.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.49. Ionis Pharmaceuticals had a net margin of 49.90% and a return on equity of 38.70%. The company had revenue of $168.00 million during the quarter, compared to analyst estimates of $152.47 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year.
Several hedge funds have recently added to or reduced their stakes in IONS. DNB Asset Management AS purchased a new stake in shares of Ionis Pharmaceuticals during the second quarter valued at about $872,000. WINTON GROUP Ltd purchased a new stake in shares of Ionis Pharmaceuticals during the second quarter valued at about $465,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Ionis Pharmaceuticals during the second quarter valued at about $365,000. PFS Investments Inc. lifted its position in shares of Ionis Pharmaceuticals by 208.5% during the second quarter. PFS Investments Inc. now owns 15,644 shares of the company’s stock valued at $1,010,000 after buying an additional 10,573 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Ionis Pharmaceuticals by 282.5% during the second quarter. Nisa Investment Advisors LLC now owns 29,364 shares of the company’s stock valued at $1,887,000 after buying an additional 21,688 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.
In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 22,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $71.52, for a total transaction of $1,573,440.00. Following the completion of the sale, the chairman now directly owns 79,634 shares of the company’s stock, valued at $5,695,423.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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