Needham & Company LLC reissued their buy rating on shares of Ionis Pharmaceuticals (NASDAQ:IONS) in a research report report published on Thursday morning, AnalystRatings.com reports. The firm currently has a $87.00 target price on the stock.
IONS has been the topic of a number of other research reports. TheStreet lowered Ionis Pharmaceuticals from a b- rating to a c rating in a research report on Thursday, August 8th. Zacks Investment Research lowered Ionis Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, October 29th. Morgan Stanley lowered Ionis Pharmaceuticals from an equal rating to a weight rating and reduced their price target for the company from $63.00 to $48.00 in a research report on Thursday. BMO Capital Markets reduced their price target on Ionis Pharmaceuticals from $96.00 to $95.00 and set an outperform rating on the stock in a research report on Wednesday, July 24th. Finally, BidaskClub lowered Ionis Pharmaceuticals from a sell rating to a strong sell rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $73.45.
Shares of NASDAQ:IONS traded up $1.71 during trading on Thursday, reaching $57.06. 925,100 shares of the company traded hands, compared to its average volume of 1,150,599. The company’s 50 day moving average is $57.99 and its two-hundred day moving average is $64.32. Ionis Pharmaceuticals has a 52 week low of $48.27 and a 52 week high of $86.58. The firm has a market capitalization of $7.64 billion, a PE ratio of 19.28, a PEG ratio of 15.24 and a beta of 1.90. The company has a quick ratio of 9.93, a current ratio of 10.01 and a debt-to-equity ratio of 0.45.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.49. Ionis Pharmaceuticals had a return on equity of 38.70% and a net margin of 49.90%. The firm had revenue of $168.00 million for the quarter, compared to analyst estimates of $152.47 million. During the same quarter in the previous year, the company posted ($0.03) EPS. The business’s revenue was up 15.9% on a year-over-year basis. As a group, research analysts anticipate that Ionis Pharmaceuticals will post 0.25 EPS for the current year.
In related news, Chairman Stanley T. Crooke sold 22,000 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 79,634 shares in the company, valued at approximately $5,695,423.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter valued at about $125,000. Creative Planning boosted its holdings in Ionis Pharmaceuticals by 2.4% in the third quarter. Creative Planning now owns 23,285 shares of the company’s stock worth $1,395,000 after acquiring an additional 552 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in Ionis Pharmaceuticals by 46.0% in the third quarter. IFM Investors Pty Ltd now owns 12,234 shares of the company’s stock worth $733,000 after acquiring an additional 3,854 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Ionis Pharmaceuticals by 34.1% in the third quarter. California Public Employees Retirement System now owns 291,371 shares of the company’s stock worth $17,456,000 after acquiring an additional 74,015 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Ionis Pharmaceuticals by 7.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 865,463 shares of the company’s stock worth $51,850,000 after acquiring an additional 60,363 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.
Ionis Pharmaceuticals Company Profile
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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