Ionis Pharmaceuticals Inc. (IONS) Rating Reiterated by BMO Capital Markets
Ionis Pharmaceuticals Inc. (NASDAQ:IONS)‘s stock had its “buy” rating reissued by stock analysts at BMO Capital Markets in a note issued to investors on Tuesday. They presently have a $48.00 target price on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 25.07% from the company’s current price.
Several other research firms also recently commented on IONS. Cowen and Company reaffirmed a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, August 3rd. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $46.00 price target on shares of Ionis Pharmaceuticals in a research note on Monday, September 26th. Leerink Swann reissued a “market perform” rating and set a $36.00 target price (up previously from $26.00) on shares of Ionis Pharmaceuticals in a research report on Tuesday, August 2nd. Jefferies Group reissued an “underperform” rating and set a $12.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, July 15th. Finally, Needham & Company LLC raised their target price on shares of Ionis Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $40.20.
Ionis Pharmaceuticals (NASDAQ:IONS) opened at 38.38 on Tuesday. Ionis Pharmaceuticals has a 52 week low of $19.59 and a 52 week high of $63.71. The stock has a 50 day moving average of $31.41 and a 200 day moving average of $30.23. The company’s market cap is $4.64 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The company earned $110.90 million during the quarter, compared to analysts’ expectations of $114.65 million. Ionis Pharmaceuticals had a negative return on equity of 126.88% and a negative net margin of 128.94%. The firm’s revenue was up 125.9% on a year-over-year basis. On average, analysts expect that Ionis Pharmaceuticals will post ($1.11) earnings per share for the current year.
In other Ionis Pharmaceuticals news, COO B Lynne Parshall sold 12,500 shares of Ionis Pharmaceuticals stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 25,558 shares in the company, valued at approximately $763,673.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP C Frank Bennett sold 5,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $34.00, for a total transaction of $170,000.00. Following the sale, the senior vice president now owns 15,803 shares of the company’s stock, valued at $537,302. The disclosure for this sale can be found here. Company insiders own 1.86% of the company’s stock.
A number of hedge funds have recently made changes to their positions in IONS. Opera Trading Capital boosted its stake in shares of 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. Rockefeller Financial Services Inc. acquired a new stake in shares of Ionis Pharmaceuticals during the second quarter valued at approximately $114,000. HL Financial Services LLC acquired a new stake in shares of Ionis Pharmaceuticals during the third quarter valued at approximately $216,000. US Bancorp DE boosted its stake in shares of 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, Prudential Financial Inc. acquired a new stake in shares of Ionis Pharmaceuticals during the third quarter valued at approximately $232,000. Institutional investors and hedge funds own 89.56% of the company’s stock.
About Ionis Pharmaceuticals
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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