Ionis Pharmaceuticals Inc. (IONS) Earns “Outperform” Rating from BMO Capital Markets
Ionis Pharmaceuticals Inc. (NASDAQ:IONS)‘s stock had its “outperform” rating reaffirmed by analysts at BMO Capital Markets in a report issued on Monday. They currently have a $48.00 price target on the stock. BMO Capital Markets’ price objective points to a potential upside of 65.52% from the company’s previous close.
A number of other research firms also recently commented on IONS. Leerink Swann reaffirmed a “market perform” rating and issued a $36.00 price objective (up previously from $26.00) on shares of Ionis Pharmaceuticals in a report on Tuesday, August 2nd. Morgan Stanley began coverage on shares of Ionis Pharmaceuticals in a report on Tuesday, August 2nd. They issued an “equal weight” rating and a $37.00 price objective for the company. Barclays PLC lifted their price objective on shares of Ionis Pharmaceuticals from $26.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 2nd. Cowen and Company reaffirmed a “buy” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, August 3rd. Finally, Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating and set a $41.00 price objective for the company in a report on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Ionis Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $42.92.
Ionis Pharmaceuticals (NASDAQ:IONS) traded up 0.66% during trading on Monday, hitting $29.19. 661,548 shares of the stock were exchanged. The stock’s 50 day moving average is $32.46 and its 200-day moving average is $32.04. The company’s market cap is $3.53 billion. Ionis Pharmaceuticals has a one year low of $19.59 and a one year high of $65.34.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.05. The firm earned $38.50 million during the quarter, compared to the consensus estimate of $38.52 million. Ionis Pharmaceuticals had a negative net margin of 128.94% and a negative return on equity of 126.88%. The business’s quarterly revenue was down 68.0% on a year-over-year basis. On average, equities research analysts expect that Ionis Pharmaceuticals will post ($1.11) earnings per share for the current fiscal year.
In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 22,000 shares of the business’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $35.50, for a total value of $781,000.00. Following the sale, the chairman now directly owns 45,029 shares in the company, valued at $1,598,529.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO B Lynne Parshall sold 12,500 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $29.88, for a total transaction of $373,500.00. Following the completion of the sale, the chief operating officer now owns 25,558 shares in the company, valued at $763,673.04. 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 modified their holdings of IONS. Metropolitan Life Insurance Co. NY boosted its stake in shares of Ionis Pharmaceuticals by 0.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 9,055 shares of the company’s stock valued at $211,000 after buying an additional 82 shares during the period. IBM Retirement Fund boosted its stake in shares of Ionis Pharmaceuticals by 0.9% in the second quarter. IBM Retirement Fund now owns 12,162 shares of the company’s stock valued at $283,000 after buying an additional 110 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Ionis Pharmaceuticals by 1.6% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 8,966 shares of the company’s stock valued at $209,000 after buying an additional 140 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Ionis Pharmaceuticals by 2.9% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,068 shares of the company’s stock valued at $398,000 after buying an additional 489 shares during the period. Finally, Utah Retirement Systems boosted its position in shares of Ionis Pharmaceuticals by 2.3% in the second quarter. Utah Retirement Systems now owns 21,900 shares of the company’s stock worth $510,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 89.65% of the company’s stock.
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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