Ionis Pharmaceuticals Inc (NASDAQ:IONS) – Piper Jaffray Companies lowered their Q3 2020 earnings estimates for Ionis Pharmaceuticals in a research note issued on Wednesday, November 6th. Piper Jaffray Companies analyst T. Van. Buren now anticipates that the company will post earnings per share of $0.05 for the quarter, down from their prior forecast of $0.10. Piper Jaffray Companies has a “Neutral” rating and a $70.00 price target on the stock. Piper Jaffray Companies also issued estimates for Ionis Pharmaceuticals’ Q1 2021 earnings at $0.35 EPS, Q2 2021 earnings at $0.40 EPS and Q3 2021 earnings at $0.40 EPS.
Several other brokerages have also recently issued reports on IONS. Cowen reaffirmed a “hold” rating on shares of Ionis Pharmaceuticals in a report on Thursday. ValuEngine cut Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday. Wells Fargo & Co lifted their price objective on Ionis Pharmaceuticals from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Zacks Investment Research cut Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, BidaskClub cut Ionis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $73.45.
Shares of Ionis Pharmaceuticals stock traded up $1.71 during 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. 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 has a 12-month low of $48.27 and a 12-month high of $86.58. The company has a market capitalization of $7.64 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 15.24 and a beta of 1.90. The business has a 50 day moving average price of $58.11 and a 200-day moving average price of $64.40.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.49. Ionis Pharmaceuticals had a return on equity of 38.70% and a net margin of 49.90%. The firm had revenue of $168.00 million for the quarter, compared to the consensus estimate of $152.47 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year.
In related news, Chairman Stanley T. Crooke sold 22,000 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $71.52, for a total transaction of $1,573,440.00. Following the completion of the transaction, the chairman now directly owns 79,634 shares of the company’s stock, valued at $5,695,423.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IONS. Whittier Trust Co. raised its holdings in shares of Ionis Pharmaceuticals by 283.0% in the second quarter. Whittier Trust Co. now owns 383 shares of the company’s stock worth $25,000 after acquiring an additional 283 shares during the last quarter. CWM LLC raised its holdings in shares of Ionis Pharmaceuticals by 361.4% in the second quarter. CWM LLC now owns 406 shares of the company’s stock worth $26,000 after acquiring an additional 318 shares during the last quarter. Ellis Investment Partners LLC acquired a new position in shares of Ionis Pharmaceuticals in the second quarter worth $32,000. Quest Capital Management Inc. ADV acquired a new position in shares of Ionis Pharmaceuticals in the third quarter worth $36,000. Finally, Rehmann Capital Advisory Group raised its holdings in shares of Ionis Pharmaceuticals by 41.3% in the second quarter. Rehmann Capital Advisory Group now owns 592 shares of the company’s stock worth $38,000 after acquiring an additional 173 shares during the last quarter. 88.89% of the stock is owned by institutional investors.
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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