Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Stock Rating Reaffirmed by BMO Capital Markets

BMO Capital Markets reiterated their outperform rating on shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in a research note issued to investors on Wednesday, July 12th. They currently have a $62.00 price target on the stock, up from their previous price target of $59.00.

Several other research analysts also recently weighed in on the company. TheStreet upgraded Ionis Pharmaceuticals from a d+ rating to a c- rating in a research note on Wednesday, July 5th. Vetr downgraded Ionis Pharmaceuticals from a hold rating to a sell rating and set a $37.67 price target for the company. in a research note on Monday, April 3rd. Needham & Company LLC reiterated a buy rating and set a $64.00 price target on shares of Ionis Pharmaceuticals in a research note on Wednesday, May 17th. Leerink Swann restated an outperform rating and issued a $45.00 target price (down previously from $47.00) on shares of Ionis Pharmaceuticals in a research note on Wednesday, May 17th. Finally, Zacks Investment Research upgraded Ionis Pharmaceuticals from a hold rating to a buy rating and set a $58.00 target price for the company in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $47.13.

Shares of Ionis Pharmaceuticals (NASDAQ IONS) traded up 2.63% during midday trading on Wednesday, hitting $46.76. 2,627,979 shares of the stock were exchanged. Ionis Pharmaceuticals has a 1-year low of $24.58 and a 1-year high of $60.01. The stock’s 50-day moving average price is $52.52 and its 200-day moving average price is $46.92. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 224.81 and a beta of 3.14.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by $0.03. The firm had revenue of $104.15 million for the quarter, compared to the consensus estimate of $93.29 million. Ionis Pharmaceuticals had a return on equity of 17.34% and a net margin of 5.25%. The firm’s revenue was up 170.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.47) EPS. On average, analysts forecast that Ionis Pharmaceuticals will post ($0.02) EPS for the current year.

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In other news, SVP C Frank Bennett sold 10,000 shares of Ionis Pharmaceuticals stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $59.29, for a total transaction of $592,900.00. Following the completion of the sale, the senior vice president now owns 25,041 shares in the company, valued at approximately $1,484,680.89. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Stanley T. Crooke sold 16,500 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $52.45, for a total value of $865,425.00. Following the transaction, the chairman now directly owns 53,014 shares in the company, valued at $2,780,584.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,379 shares of company stock valued at $2,946,052. Corporate insiders own 1.86% of the company’s stock.

Several large investors have recently added to or reduced their stakes in IONS. Russell Investments Group Ltd. purchased a new stake in Ionis Pharmaceuticals during the fourth quarter valued at $976,000. Comerica Bank raised its stake in Ionis Pharmaceuticals by 33.3% in the fourth quarter. Comerica Bank now owns 16,505 shares of the company’s stock valued at $794,000 after buying an additional 4,122 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Ionis Pharmaceuticals by 361.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 97,341 shares of the company’s stock valued at $4,656,000 after buying an additional 76,259 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Ionis Pharmaceuticals during the fourth quarter valued at $533,000. Finally, Norges Bank purchased a new stake in Ionis Pharmaceuticals during the fourth quarter valued at $50,976,000. Institutional investors own 88.77% of the company’s stock.

About Ionis Pharmaceuticals

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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