Ionis Pharmaceuticals Inc. (IONS) Earns Buy Rating from Analysts at Janney Montgomery Scott
Equities research analysts at Janney Montgomery Scott began coverage on shares of Ionis Pharmaceuticals Inc. (NASDAQ:IONS) in a report released on Wednesday. The firm set a “buy” rating on the stock.
Several other equities research analysts have also recently issued reports on the stock. Piper Jaffray Cos. reissued an “overweight” rating and issued a $46.00 target price on shares of Ionis Pharmaceuticals in a research report on Monday. Wells Fargo & Co. reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Friday, August 19th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, July 14th. BMO Capital Markets reissued a “market perform” rating and issued a $26.00 target price on shares of Ionis Pharmaceuticals in a research report on Tuesday, June 7th. Finally, Jefferies Group reissued an “underperform” rating and issued a $12.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, July 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.82.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) traded down 1.42% during midday trading on Wednesday, hitting $36.20. 1,496,362 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $32.55 and its 200-day moving average is $32.38. Ionis Pharmaceuticals has a 1-year low of $19.59 and a 1-year high of $65.34. The stock’s market cap is $4.38 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.05. Ionis Pharmaceuticals had a negative net margin of 128.94% and a negative return on equity of 126.88%. The company had revenue of $38.50 million for the quarter, compared to analysts’ expectations of $38.52 million. The firm’s quarterly revenue was down 68.0% compared to the same quarter last year. Analysts predict that Ionis Pharmaceuticals will post ($1.07) earnings per share for the current fiscal year.
In other news, COO B Lynne Parshall sold 12,500 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $29.88, for a total transaction of $373,500.00. Following the completion of the transaction, the chief operating officer now owns 25,558 shares of the company’s stock, valued at $763,673.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Stanley T. Crooke sold 22,000 shares of the business’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $35.50, for a total transaction of $781,000.00. Following the transaction, the chairman now directly owns 45,029 shares of the company’s stock, valued at approximately $1,598,529.50. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Parametric Risk Advisors LLC bought a new stake in Ionis Pharmaceuticals during the first quarter valued at $106,000. Rockefeller Financial Services Inc. bought a new stake in Ionis Pharmaceuticals during the second quarter valued at $114,000. Opera Trading Capital increased its stake in Ionis Pharmaceuticals by 150.0% in the first quarter. Opera Trading Capital now owns 2,892 shares of the company’s stock valued at $117,000 after buying an additional 1,735 shares during the last quarter. US Bancorp DE increased its stake in Ionis Pharmaceuticals by 37.8% in the second quarter. US Bancorp DE now owns 5,952 shares of the company’s stock valued at $139,000 after buying an additional 1,634 shares during the last quarter. Finally, GAM Holding AG increased its stake in Ionis Pharmaceuticals by 118.5% in the second quarter. GAM Holding AG now owns 7,727 shares of the company’s stock valued at $180,000 after buying an additional 4,191 shares during the last quarter. 89.58% of the stock is owned by institutional investors and hedge funds.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
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