Piper Jaffray Cos. restated their overweight rating on shares of Ionis Pharmaceuticals Inc. (NASDAQ:IONS) in a research report report published on Monday. The firm currently has a $46.00 price target on the stock.
Several other equities research analysts have also recently issued reports on the stock. Needham & Company LLC reaffirmed a buy rating and set a $55.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday, July 14th. Wells Fargo & Co. reaffirmed an outperform rating on shares of Ionis Pharmaceuticals in a research note on Friday, August 19th. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a buy rating to a hold rating in a research note on Thursday, August 11th. Cowen and Company reissued a market perform rating on shares of Ionis Pharmaceuticals in a research report on Saturday, August 13th. Finally, BMO Capital Markets reissued a market perform rating and set a $26.00 price target on shares of Ionis Pharmaceuticals in a research report on Friday, July 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $41.82.
Ionis Pharmaceuticals (NASDAQ:IONS) opened at 35.57 on Monday. Ionis Pharmaceuticals has a one year low of $19.59 and a one year high of $65.34. The firm’s 50-day moving average is $32.53 and its 200 day moving average is $32.43. The company’s market capitalization is $4.30 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.05. Ionis Pharmaceuticals had a negative net margin of 128.94% and a negative return on equity of 126.88%. The company had revenue of $38.50 million for the quarter, compared to analysts’ expectations of $38.52 million. The business’s revenue for the quarter was down 68.0% on a year-over-year basis. On average, equities analysts expect that Ionis Pharmaceuticals will post ($1.11) EPS for the current fiscal year.
In other Ionis Pharmaceuticals news, COO B Lynne Parshall sold 12,500 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $29.88, for a total transaction of $373,500.00. Following the sale, the chief operating officer now directly owns 25,558 shares in the company, valued at $763,673.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Stanley T. Crooke sold 22,000 shares of the business’s stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $36.02, for a total transaction of $792,440.00. Following the sale, the chairman now owns 45,029 shares in the company, valued at $1,621,944.58. The disclosure for this sale can be found here. Company insiders own 1.86% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Ionis Pharmaceuticals by 4.4% in the first quarter. Geode Capital Management LLC now owns 760,951 shares of the company’s stock worth $30,802,000 after buying an additional 31,981 shares during the period. State Street Corp raised its stake in Ionis Pharmaceuticals by 15.7% in the first quarter. State Street Corp now owns 3,037,388 shares of the company’s stock worth $123,010,000 after buying an additional 412,515 shares during the last quarter. Broderick Brian C raised its stake in Ionis Pharmaceuticals by 25.4% in the second quarter. Broderick Brian C now owns 24,444 shares of the company’s stock worth $570,000 after buying an additional 4,949 shares during the last quarter. Motley Fool Asset Management LLC raised its stake in Ionis Pharmaceuticals by 600.0% in the first quarter. Motley Fool Asset Management LLC now owns 140,000 shares of the company’s stock worth $5,670,000 after buying an additional 120,000 shares during the last quarter. Finally, Motley Fool Wealth Management LLC raised its stake in Ionis Pharmaceuticals by 51.1% in the first quarter. Motley Fool Wealth Management LLC now owns 166,513 shares of the company’s stock worth $6,744,000 after buying an additional 56,320 shares during the last quarter. Institutional investors own 89.58% of the company’s stock.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
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