Vetr downgraded shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday. They currently have $38.22 price objective on the stock.

Several other equities analysts have also recently weighed in on IONS. Leerink Swann reissued a market perform rating and set a $26.00 price target (down from $39.00) on shares of Ionis Pharmaceuticals in a report on Monday, July 18th. Needham & Company LLC increased their price target on Ionis Pharmaceuticals from $55.00 to $64.00 and gave the company a buy rating in a report on Monday, August 1st. BMO Capital Markets increased their price target on Ionis Pharmaceuticals from $25.00 to $40.00 and gave the company a market perform rating in a report on Monday, August 1st. Morgan Stanley initiated coverage on Ionis Pharmaceuticals in a report on Tuesday, August 2nd. They set an equal weight rating and a $37.00 price target on the stock. Finally, Barclays PLC increased their price target on Ionis Pharmaceuticals from $26.00 to $41.00 and gave the company an equal weight rating in a report on Tuesday, August 2nd. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $41.85.

Ionis Pharmaceuticals (NASDAQ:IONS) traded down 3.2485% during trading on Tuesday, reaching $46.5955. The company had a trading volume of 1,690,382 shares. 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 $32.49 and its 200 day moving average price is $30.24. The firm’s market capitalization is $5.65 billion.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by $0.02. The firm had revenue of $110.90 million for the quarter, compared to the consensus estimate of $114.65 million. Ionis Pharmaceuticals had a negative net margin of 77.30% and a negative return on equity of 120.60%. Ionis Pharmaceuticals’s revenue for the quarter was up 125.9% on a year-over-year basis. Equities analysts forecast that Ionis Pharmaceuticals will post ($1.11) earnings per share for the current fiscal year.

In other Ionis Pharmaceuticals news, COO B Lynne Parshall sold 12,500 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $29.88, for a total value of $373,500.00. Following the completion of the sale, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Patrick R. O’neil sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the senior vice president now directly owns 9,720 shares of the company’s stock, valued at approximately $437,400. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY increased its stake in 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 in the last quarter. IBM Retirement Fund increased its stake in 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 in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in 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 in the last quarter. Checchi Capital Advisers LLC increased its stake in Ionis Pharmaceuticals by 0.9% in the third quarter. Checchi Capital Advisers LLC now owns 22,185 shares of the company’s stock valued at $813,000 after buying an additional 192 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Ionis Pharmaceuticals by 1.5% in the third quarter. Principal Financial Group Inc. now owns 25,251 shares of the company’s stock valued at $925,000 after buying an additional 380 shares in the last quarter. 88.35% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:IONS

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