BMO Capital Markets reaffirmed their outperform rating on shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in a research note issued to investors on Tuesday morning. The brokerage currently has a $62.00 price objective on the stock.
IONS has been the subject of several other reports. Leerink Swann reissued an outperform rating and issued a $45.00 price target (down from $47.00) on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. TheStreet raised Ionis Pharmaceuticals from a d+ rating to a c- rating in a report on Wednesday, July 5th. Vetr cut Ionis Pharmaceuticals from a hold rating to a sell rating and set a $37.67 price target for the company. in a report on Monday, March 27th. Piper Jaffray Companies set a $51.00 price target on Ionis Pharmaceuticals and gave the company a buy rating in a report on Wednesday, May 10th. Finally, Needham & Company LLC reissued a buy rating and issued a $64.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $44.55.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) traded down 0.69% on Tuesday, hitting $54.33. The stock had a trading volume of 1,482,874 shares. Ionis Pharmaceuticals has a one year low of $24.58 and a one year high of $59.71. The firm’s 50-day moving average is $52.42 and its 200-day moving average is $46.57. The company’s market cap is $6.74 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Tuesday, May 9th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.13. The business had revenue of $110.30 million during the quarter, compared to analysts’ expectations of $86.03 million. Ionis Pharmaceuticals had a negative return on equity of 14.61% and a negative net margin of 4.80%. The company’s quarterly revenue was up 199.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.52) EPS. On average, analysts expect that Ionis Pharmaceuticals will post ($0.27) EPS for the current fiscal year.
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In related news, major shareholder Ionis Pharmaceuticals Inc purchased 3,125,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was bought at an average cost of $8.00 per share, with a total value of $25,000,000.00. Following the completion of the acquisition, the insider now directly owns 28,884,540 shares in the company, valued at approximately $231,076,320. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Stanley T. Crooke sold 11,000 shares of the business’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $55.35, for a total value of $608,850.00. Following the completion of the transaction, the chairman now directly owns 48,014 shares of the company’s stock, valued at $2,657,574.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,029 shares of company stock valued at $2,384,840. Insiders own 1.86% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes 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. 88.75% of the stock is owned by institutional investors.
Ionis Pharmaceuticals Company Profile
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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