Ionis Pharmaceuticals’ (IONS) “Hold” Rating Reiterated at Cowen and Company
Ionis Pharmaceuticals Inc (NASDAQ:IONS)‘s stock had its “hold” rating reiterated by research analysts at Cowen and Company in a research note issued to investors on Thursday.
In related news, SVP Patrick R. O’neil sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 23rd. The shares were sold at an average price of $45.40, for a total value of $45,400.00. Following the sale, the senior vice president now owns 10,124 shares in the company, valued at $459,629.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stanley T. Crooke sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $40.74, for a total transaction of $448,140.00. Following the completion of the sale, the chief executive officer now owns 30,029 shares in the company, valued at approximately $1,223,381.46. The disclosure for this sale can be found here.
A number of other equities research analysts have also recently weighed in on the stock. Goldman Sachs cut their price objective on shares of Ionis Pharmaceuticals from $65.00 to $48.00 in a report on Monday, February 22nd. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Wednesday, April 27th. Piper Jaffray restated a “buy” rating on shares of Ionis Pharmaceuticals in a report on Thursday, April 7th. Barclays cut their price objective on shares of Ionis Pharmaceuticals from $65.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 24th. Finally, Needham & Company LLC restated a “buy” rating on shares of Ionis Pharmaceuticals in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $59.40.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) opened at 21.36 on Thursday. The firm’s market capitalization is $2.58 billion. Ionis Pharmaceuticals has a 52 week low of $21.09 and a 52 week high of $71.50. The company’s 50 day moving average price is $37.53 and its 200-day moving average price is $45.06.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.50) by $0.02. During the same quarter in the previous year, the business posted ($0.14) EPS. The business had revenue of $36.90 million for the quarter, compared to analyst estimates of $36.21 million. The business’s revenue for the quarter was down 41.1% on a year-over-year basis. On average, equities research analysts expect that Ionis Pharmaceuticals will post ($1.48) EPS for the current fiscal year.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Mackay Shields acquired a new position in Ionis Pharmaceuticals during the fourth quarter valued at $11,549,000. Clearbridge Investments LLC acquired a new position in Ionis Pharmaceuticals during the fourth quarter valued at $586,768,000. Baillie Gifford & Co. acquired a new position in Ionis Pharmaceuticals during the fourth quarter valued at $500,302,000. BB Biotech AG acquired a new position in Ionis Pharmaceuticals during the fourth quarter valued at $404,393,000. Finally, Waddell & Reed Financial Inc. acquired a new position in Ionis Pharmaceuticals during the fourth quarter valued at $357,355,000.
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is a ribonucleic acid-targeted (RNA-targeted) drug discovery and development company. The Company is focused on discovering and developing antisense drugs. Its antisense drugs are used to treat a range of diseases, including cardiovascular; metabolic; severe and rare diseases, including neurological disorders, and cancer.