Zacks Investment Research upgraded shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) from a hold rating to a strong-buy rating in a research note published on Friday. They currently have $62.00 target price on the stock.
According to Zacks, “Ionis Pharmaceuticals, Inc. is a RNA-targeted drug discovery and development company which focuses on developing drugs for severe and rare diseases. Ionis Pharmaceuticals, Inc., formerly known as Isis Pharmaceuticals, Inc., is headquartered in Carlsbad, California. “
Several other equities analysts have also commented on the stock. TheStreet raised shares of Ionis Pharmaceuticals from a d+ rating to a c- rating in a research report on Wednesday, July 5th. Stifel Nicolaus reaffirmed a hold rating and issued a $50.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday, October 13th. BMO Capital Markets reaffirmed an outperform rating and issued a $62.00 price objective (up from $59.56) on shares of Ionis Pharmaceuticals in a research report on Tuesday, July 25th. Barclays PLC initiated coverage on shares of Ionis Pharmaceuticals in a research report on Wednesday, September 6th. They issued an equal weight rating and a $55.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $64.00 price objective on shares of Ionis Pharmaceuticals in a research report on Sunday, September 17th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $49.64.
Ionis Pharmaceuticals (IONS) opened at 56.40 on Friday. The stock has a market capitalization of $7.01 billion, a PE ratio of 271.15 and a beta of 3.12. Ionis Pharmaceuticals has a 12-month low of $24.58 and a 12-month high of $65.51. The stock’s 50 day moving average is $56.61 and its 200 day moving average is $51.14.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). The company had revenue of $104.15 million during the quarter, compared to analysts’ expectations of $93.29 million. Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The business’s revenue for the quarter was up 170.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.47) earnings per share. Equities analysts anticipate that Ionis Pharmaceuticals will post ($0.17) EPS for the current fiscal year.
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In other news, COO B Lynne Parshall sold 16,118 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $65.00, for a total transaction of $1,047,670.00. Following the completion of the transaction, the chief operating officer now directly owns 33,526 shares of the company’s stock, valued at approximately $2,179,190. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Patrick R. O’neil sold 1,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $55.00, for a total transaction of $55,000.00. Following the transaction, the senior vice president now directly owns 10,633 shares of the company’s stock, valued at $584,815. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,636 shares of company stock valued at $5,665,565. Insiders own 2.13% of the company’s stock.
Several large investors have recently bought and sold shares of IONS. Parallel Advisors LLC increased its holdings in shares of Ionis Pharmaceuticals by 62.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock valued at $109,000 after purchasing an additional 800 shares in the last quarter. Hanseatic Management Services Inc. increased its holdings in shares of Ionis Pharmaceuticals by 1.2% during the 2nd quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock valued at $177,000 after purchasing an additional 41 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Ionis Pharmaceuticals by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock valued at $190,000 after purchasing an additional 311 shares in the last quarter. WFG Advisors LP increased its holdings in shares of Ionis Pharmaceuticals by 77.2% during the 2nd quarter. WFG Advisors LP now owns 3,800 shares of the company’s stock valued at $193,000 after purchasing an additional 1,655 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Ionis Pharmaceuticals during the 2nd quarter valued at approximately $222,000. 89.01% 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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