BMO Capital Markets restated their outperform rating on shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in a report issued on Wednesday, July 12th. BMO Capital Markets currently has a $62.00 price target on the stock, up from their prior price target of $59.00.
Other research analysts have also recently issued research reports about the stock. Cowen and Company restated a market perform rating on shares of Ionis Pharmaceuticals in a report on Monday, May 22nd. Vetr cut shares of Ionis Pharmaceuticals from a hold rating to a sell rating and set a $37.67 price objective for the company. in a report on Monday, April 3rd. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a hold rating to a buy rating and set a $58.00 price objective for the company in a report on Wednesday, July 12th. Stifel Nicolaus restated a hold rating and issued a $42.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday, July 10th. Finally, Needham & Company LLC restated a buy rating and issued a $64.00 price objective on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $45.38.
Shares of Ionis Pharmaceuticals (IONS) traded down 4.14% on Wednesday, hitting $52.08. 1,650,328 shares of the stock traded hands. Ionis Pharmaceuticals has a one year low of $24.58 and a one year high of $59.71. The company’s 50 day moving average is $52.77 and its 200 day moving average is $46.68. The stock’s market cap is $6.46 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.13. The business had revenue of $110.30 million for the quarter, compared to the consensus estimate of $86.03 million. Ionis Pharmaceuticals had a negative net margin of 4.80% and a negative return on equity of 14.61%. The business’s revenue was up 199.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.52) EPS. On average, equities analysts forecast that Ionis Pharmaceuticals will post ($0.27) EPS for the current year.
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In other news, major shareholder Ionis Pharmaceuticals Inc acquired 3,125,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was bought at an average price of $8.00 per share, for a total transaction of $25,000,000.00. Following the transaction, the insider now owns 28,884,540 shares in the company, valued at $231,076,320. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Stanley T. Crooke sold 16,500 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $52.10, for a total transaction of $859,650.00. Following the transaction, the chairman now owns 51,476 shares of the company’s stock, valued at approximately $2,681,899.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,029 shares of company stock valued at $2,977,740. 1.86% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in IONS. Hanseatic Management Services Inc. bought a new position in Ionis Pharmaceuticals during the first quarter worth $138,000. Westpac Banking Corp bought a new position in Ionis Pharmaceuticals during the first quarter worth $171,000. Cheyne Capital Management UK LLP bought a new position in Ionis Pharmaceuticals during the second quarter worth $249,000. Capstone Asset Management Co. boosted its position in Ionis Pharmaceuticals by 10.3% in the first quarter. Capstone Asset Management Co. now owns 5,148 shares of the company’s stock worth $207,000 after buying an additional 480 shares during the period. Finally, World Asset Management Inc boosted its position in Ionis Pharmaceuticals by 27.3% in the first quarter. World Asset Management Inc now owns 5,427 shares of the company’s stock worth $218,000 after buying an additional 1,163 shares during the period. Institutional investors own 88.75% 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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