Zacks Investment Research cut shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a buy rating to a hold rating in a research report sent to investors on Friday.
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. “
A number of other equities analysts also recently weighed in on the stock. Morgan Stanley set a $46.00 target price on shares of Ionis Pharmaceuticals and gave the stock a hold rating in a research note on Wednesday. Piper Jaffray Companies set a $50.00 target price on shares of Ionis Pharmaceuticals and gave the stock a hold rating in a research note on Tuesday. ValuEngine raised shares of Ionis Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, November 1st. Finally, Stifel Nicolaus lifted their target price on shares of Ionis Pharmaceuticals from $45.00 to $48.00 and gave the stock a hold rating in a research note on Tuesday, September 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $54.00.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Tuesday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. Ionis Pharmaceuticals had a negative net margin of 7.52% and a negative return on equity of 1.58%. The business had revenue of $145.40 million during the quarter, compared to the consensus estimate of $146.77 million. During the same quarter last year, the firm earned ($0.02) earnings per share. Ionis Pharmaceuticals’s quarterly revenue was up 22.9% on a year-over-year basis. As a group, research analysts anticipate that Ionis Pharmaceuticals will post -0.15 EPS for the current fiscal year.
In other Ionis Pharmaceuticals news, COO Brett P. Monia sold 16,493 shares of Ionis Pharmaceuticals stock in a transaction on Monday, August 27th. The shares were sold at an average price of $54.00, for a total value of $890,622.00. Following the completion of the sale, the chief operating officer now directly owns 24,834 shares of the company’s stock, valued at $1,341,036. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP C Frank Bennett sold 12,500 shares of Ionis Pharmaceuticals stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $49.54, for a total transaction of $619,250.00. Following the completion of the sale, the senior vice president now directly owns 31,896 shares of the company’s stock, valued at $1,580,127.84. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. BB Biotech AG increased its stake in Ionis Pharmaceuticals by 1.8% in the second quarter. BB Biotech AG now owns 8,666,334 shares of the company’s stock valued at $361,126,000 after purchasing an additional 150,000 shares in the last quarter. Scout Investments Inc. increased its stake in Ionis Pharmaceuticals by 12.0% in the second quarter. Scout Investments Inc. now owns 369,318 shares of the company’s stock valued at $15,389,000 after purchasing an additional 39,498 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Ionis Pharmaceuticals by 19.5% in the second quarter. Canada Pension Plan Investment Board now owns 321,700 shares of the company’s stock valued at $13,405,000 after purchasing an additional 52,400 shares in the last quarter. BlackRock Inc. increased its stake in Ionis Pharmaceuticals by 1.8% in the second quarter. BlackRock Inc. now owns 7,054,579 shares of the company’s stock valued at $293,965,000 after purchasing an additional 124,233 shares in the last quarter. Finally, Bellevue Group AG increased its stake in Ionis Pharmaceuticals by 3.3% in the second quarter. Bellevue Group AG now owns 322,586 shares of the company’s stock valued at $13,442,000 after purchasing an additional 10,400 shares in the last quarter. 86.35% of the stock is owned by hedge funds and other institutional investors.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.
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