Ionis Pharmaceuticals Inc. (IONS) Rating Reiterated by Leerink Swann
Ionis Pharmaceuticals Inc. (NASDAQ:IONS)‘s stock had its “market perform” rating reiterated by equities research analysts at Leerink Swann in a report issued on Thursday. They currently have a $40.00 price objective on the stock. Leerink Swann’s price target would suggest a potential downside of 6.04% from the company’s previous close.
Other analysts also recently issued reports about the company. Cowen and Company restated a “market perform” rating on shares of Ionis Pharmaceuticals in a report on Saturday, August 13th. Morgan Stanley began coverage on Ionis Pharmaceuticals in a report on Tuesday, August 2nd. They set an “equal weight” rating and a $37.00 price objective for the company. Piper Jaffray Cos. restated an “overweight” rating and set a $35.00 price objective on shares of Ionis Pharmaceuticals in a report on Friday, July 15th. Zacks Investment Research upgraded 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. Finally, Needham & Company LLC upped their price objective on Ionis Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $41.78.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) opened at 42.57 on Thursday. The stock’s market capitalization is $5.14 billion. Ionis Pharmaceuticals has a one year low of $19.59 and a one year high of $63.71. The firm’s 50-day moving average price is $31.77 and its 200-day moving average price is $30.30.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The business earned $110.90 million during the quarter, compared to analyst estimates of $114.65 million. Ionis Pharmaceuticals had a negative net margin of 77.30% and a negative return on equity of 120.60%. The company’s revenue was up 125.9% on a year-over-year basis. Equities research analysts anticipate that Ionis Pharmaceuticals will post ($1.06) EPS for the current fiscal year.
In other news, Chairman Stanley T. Crooke sold 22,000 shares of the stock in a transaction dated 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 owns 45,029 shares of the company’s stock, valued at $1,598,529.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO B Lynne Parshall sold 12,500 shares of the 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 transaction, the chief operating officer now directly owns 25,558 shares in the company, valued at approximately $763,673.04. The disclosure for this sale can be found here. Insiders own 1.86% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Ionis Pharmaceuticals by 20.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,546 shares of the company’s stock valued at $508,000 after buying an additional 2,091 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of Ionis Pharmaceuticals by 1.2% in the first quarter. Panagora Asset Management Inc. now owns 135,109 shares of the company’s stock valued at $5,472,000 after buying an additional 1,664 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Ionis Pharmaceuticals during the first quarter valued at approximately $354,000. Bellevue Group AG bought a new position in shares of Ionis Pharmaceuticals during the first quarter valued at approximately $5,589,000. Finally, Envestnet Asset Management Inc. raised its stake in Ionis Pharmaceuticals by 1.9% in the first quarter. Envestnet Asset Management Inc. now owns 63,362 shares of the company’s stock valued at $2,566,000 after buying an additional 1,199 shares during the period. 88.35% of the stock is currently 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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