Zacks Investment Research lowered shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a buy rating to a hold rating in a research note released 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. “
Other analysts have also issued research reports about the stock. Stifel Nicolaus reduced their price target on shares of Ionis Pharmaceuticals from $47.00 to $45.00 and set a hold rating on the stock in a research report on Tuesday, August 28th. Morgan Stanley reduced their price target on shares of Ionis Pharmaceuticals from $51.00 to $49.00 and set an equal weight rating on the stock in a research report on Wednesday, August 8th. ValuEngine upgraded shares of Ionis Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, August 9th. Finally, Piper Jaffray Companies set a $50.00 target price on shares of Ionis Pharmaceuticals and gave the company a hold rating in a research report on Monday, September 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Ionis Pharmaceuticals has an average rating of Hold and a consensus target price of $54.00.
Shares of NASDAQ IONS traded down $1.29 during trading hours on Friday, hitting $51.50. 1,136,791 shares of the stock were exchanged, compared to its average volume of 1,085,358. The company has a current ratio of 7.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.74. Ionis Pharmaceuticals has a 1-year low of $39.07 and a 1-year high of $57.92.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Tuesday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.10. The business had revenue of $145.40 million for the quarter, compared to analyst estimates of $146.77 million. Ionis Pharmaceuticals had a negative net margin of 7.52% and a negative return on equity of 1.58%. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) EPS. Analysts anticipate that Ionis Pharmaceuticals will post -0.15 earnings per share for the current year.
In other Ionis Pharmaceuticals news, SVP C Frank Bennett sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $49.54, for a total value of $619,250.00. Following the sale, the senior vice president now owns 31,896 shares in the company, valued at $1,580,127.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brett P. Monia sold 16,493 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $54.00, for a total transaction of $890,622.00. Following the completion of the sale, the chief operating officer now owns 24,834 shares in the company, valued at approximately $1,341,036. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.
A number of institutional investors have recently modified their holdings of IONS. Dimensional Fund Advisors LP boosted its position in Ionis Pharmaceuticals by 5.7% in the first quarter. Dimensional Fund Advisors LP now owns 237,581 shares of the company’s stock valued at $10,473,000 after buying an additional 12,770 shares in the last quarter. Principal Financial Group Inc. boosted its position in Ionis Pharmaceuticals by 4.0% in the first quarter. Principal Financial Group Inc. now owns 38,277 shares of the company’s stock valued at $1,687,000 after buying an additional 1,479 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Ionis Pharmaceuticals by 2.9% during the first quarter. Legal & General Group Plc now owns 68,452 shares of the company’s stock valued at $3,017,000 after acquiring an additional 1,925 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Ionis Pharmaceuticals by 32.3% during the second quarter. State of Alaska Department of Revenue now owns 15,030 shares of the company’s stock valued at $626,000 after acquiring an additional 3,670 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Ionis Pharmaceuticals by 11.8% during the second quarter. Xact Kapitalforvaltning AB now owns 18,911 shares of the company’s stock valued at $788,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 86.35% of the company’s stock.
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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