Piper Jaffray Companies Cuts Ionis Pharmaceuticals (NASDAQ:IONS) Price Target to $70.00

Ionis Pharmaceuticals (NASDAQ:IONS) had its price objective decreased by Piper Jaffray Companies from $75.00 to $70.00 in a research report report published on Thursday, The Fly reports. Piper Jaffray Companies currently has a neutral rating on the stock. Piper Jaffray Companies also issued estimates for Ionis Pharmaceuticals’ Q3 2020 earnings at $0.05 EPS, Q1 2021 earnings at $0.35 EPS, Q2 2021 earnings at $0.40 EPS and Q3 2021 earnings at $0.40 EPS.

Several other equities analysts have also recently weighed in on the stock. Needham & Company LLC reissued a buy rating and issued a $87.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday. Sanford C. Bernstein raised shares of Ionis Pharmaceuticals from a market perform rating to an outperform rating and set a $80.00 target price for the company in a research note on Tuesday, September 10th. ValuEngine raised shares of Ionis Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, November 1st. Cantor Fitzgerald set a $65.00 target price on shares of Ionis Pharmaceuticals and gave the company a hold rating in a research note on Tuesday, October 15th. Finally, Cowen reissued a hold rating on shares of Ionis Pharmaceuticals in a research note on Thursday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $73.45.

Shares of NASDAQ:IONS traded down $0.41 during midday trading on Thursday, hitting $56.65. The stock had a trading volume of 629,813 shares, compared to its average volume of 1,148,210. Ionis Pharmaceuticals has a 12 month low of $48.27 and a 12 month high of $86.58. The company has a quick ratio of 9.93, a current ratio of 10.01 and a debt-to-equity ratio of 0.45. The business’s 50-day simple moving average is $57.77 and its 200-day simple moving average is $64.17. The company has a market cap of $7.64 billion, a P/E ratio of 19.14, a PEG ratio of 15.24 and a beta of 1.90.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Wednesday, November 6th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.49. Ionis Pharmaceuticals had a net margin of 49.90% and a return on equity of 38.70%. The business had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $152.47 million. During the same period last year, the business earned ($0.03) earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. As a group, equities analysts predict that Ionis Pharmaceuticals will post 0.25 earnings per share for the current year.

In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 22,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $71.52, for a total transaction of $1,573,440.00. Following the completion of the sale, the chairman now owns 79,634 shares of the company’s stock, valued at approximately $5,695,423.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Ionis Pharmaceuticals by 1.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,084 shares of the company’s stock valued at $1,040,000 after purchasing an additional 154 shares during the last quarter. Comerica Bank lifted its holdings in Ionis Pharmaceuticals by 1.1% during the 2nd quarter. Comerica Bank now owns 15,590 shares of the company’s stock valued at $1,051,000 after purchasing an additional 170 shares during the last quarter. Coastal Investment Advisors Inc. lifted its holdings in Ionis Pharmaceuticals by 1.7% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 10,023 shares of the company’s stock valued at $640,000 after purchasing an additional 172 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in Ionis Pharmaceuticals by 41.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 592 shares of the company’s stock valued at $38,000 after purchasing an additional 173 shares during the last quarter. Finally, Kistler Tiffany Companies LLC lifted its holdings in Ionis Pharmaceuticals by 9.9% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 2,006 shares of the company’s stock valued at $120,000 after purchasing an additional 181 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

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