Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) released its earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.03, Bloomberg Earnings reports. The firm had revenue of $104.15 million during the quarter, compared to the consensus estimate of $93.29 million. Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The business’s quarterly revenue was up 170.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.47) EPS.
Ionis Pharmaceuticals (NASDAQ IONS) opened at 46.98 on Friday. Ionis Pharmaceuticals has a 1-year low of $24.58 and a 1-year high of $60.01. The stock has a market capitalization of $5.84 billion, a PE ratio of 225.87 and a beta of 3.14. The stock’s 50 day moving average price is $51.56 and its 200 day moving average price is $47.09.
A number of analysts recently weighed in on IONS shares. Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Monday, July 31st. Jefferies Group LLC reiterated an “underperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Ionis Pharmaceuticals in a research report on Thursday, August 10th. BMO Capital Markets reiterated a “buy” rating and issued a $59.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday, June 2nd. Sanford C. Bernstein began coverage on Ionis Pharmaceuticals in a research report on Thursday, July 27th. They issued a “market perform” rating and a $57.00 price objective for the company. Finally, Cowen and Company reiterated a “market perform” rating on shares of Ionis Pharmaceuticals in a research report on Monday, May 22nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Ionis Pharmaceuticals has a consensus rating of “Hold” and an average target price of $48.91.
In related news, Chairman Stanley T. Crooke sold 16,500 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $52.45, for a total transaction of $865,425.00. Following the completion of the sale, the chairman now directly owns 53,014 shares of the company’s stock, valued at approximately $2,780,584.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP C Frank Bennett sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $59.29, for a total value of $592,900.00. Following the sale, the senior vice president now directly owns 25,041 shares of the company’s stock, valued at $1,484,680.89. The disclosure for this sale can be found here. Insiders have sold a total of 54,379 shares of company stock valued at $2,946,052 over the last three months. 1.86% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of Ionis Pharmaceuticals by 62.8% in the second quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock worth $109,000 after buying an additional 800 shares during the period. Hanseatic Management Services Inc. purchased a new stake in shares of Ionis Pharmaceuticals during the first quarter worth $138,000. Westpac Banking Corp purchased a new stake in shares of Ionis Pharmaceuticals during the first quarter worth $171,000. The Manufacturers Life Insurance Company raised its stake in shares of Ionis Pharmaceuticals by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock worth $190,000 after buying an additional 311 shares during the period. Finally, WFG Advisors LP raised its stake in shares of Ionis Pharmaceuticals by 77.2% in the second quarter. WFG Advisors LP now owns 3,800 shares of the company’s stock worth $193,000 after buying an additional 1,655 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.
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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