Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) had its price target raised by stock analysts at BMO Capital Markets from $32.00 to $35.00 in a research note issued to investors on Thursday, May 11th. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential downside of 29.55% from the stock’s current price.
IONS has been the topic of a number of other research reports. Piper Jaffray Companies set a $51.00 price objective on Ionis Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Vetr downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating and set a $37.67 price objective on the stock. in a research note on Monday, April 3rd. Goldman Sachs Group, Inc. (The) cut Ionis Pharmaceuticals from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $28.00 to $25.00 in a report on Friday, March 10th. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 target price on shares of Ionis Pharmaceuticals in a report on Monday, March 6th. Finally, Zacks Investment Research cut Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, February 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $43.97.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) traded down 1.13% during trading on Thursday, hitting $49.68. 2,262,233 shares of the stock traded hands. The stock has a 50 day moving average price of $47.08 and a 200-day moving average price of $45.58. The stock’s market cap is $6.16 billion. Ionis Pharmaceuticals has a 1-year low of $20.49 and a 1-year high of $57.00.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Tuesday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.13. The company had revenue of $110.30 million for the quarter, compared to the consensus estimate of $86.03 million. Ionis Pharmaceuticals had a negative return on equity of 14.61% and a negative net margin of 4.80%. The firm’s quarterly revenue was up 199.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.52) EPS. Equities analysts forecast that Ionis Pharmaceuticals will post ($0.39) EPS for the current year.
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In other Ionis Pharmaceuticals news, SVP Patrick R. O’neil sold 650 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $48.75, for a total transaction of $31,687.50. Following the completion of the transaction, the senior vice president now owns 10,299 shares of the company’s stock, valued at $502,076.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Stanley T. Crooke sold 22,000 shares of the stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $40.69, for a total value of $895,180.00. Following the transaction, the chairman now directly owns 48,014 shares of the company’s stock, valued at approximately $1,953,689.66. The disclosure for this sale can be found here. Insiders sold 46,220 shares of company stock worth $2,019,538 in the last 90 days. Company insiders own 1.86% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Highbridge Capital Management LLC boosted its stake in Ionis Pharmaceuticals by 4,929.4% in the third quarter. Highbridge Capital Management LLC now owns 85,500 shares of the company’s stock valued at $3,133,000 after buying an additional 83,800 shares in the last quarter. Iguana Healthcare Management LLC bought a new stake in Ionis Pharmaceuticals during the third quarter valued at approximately $1,832,000. Opus Point Partners Management LLC boosted its stake in Ionis Pharmaceuticals by 7.9% in the third quarter. Opus Point Partners Management LLC now owns 76,439 shares of the company’s stock valued at $2,801,000 after buying an additional 5,571 shares in the last quarter. Virtus ETF Advisers LLC boosted its stake in Ionis Pharmaceuticals by 14.4% in the third quarter. Virtus ETF Advisers LLC now owns 27,856 shares of the company’s stock valued at $1,021,000 after buying an additional 3,511 shares in the last quarter. Finally, Natixis Asset Management bought a new stake in Ionis Pharmaceuticals during the third quarter valued at approximately $609,000. 88.89% of the stock is owned by hedge funds and other institutional investors.
Ionis Pharmaceuticals Company Profile
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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