Ionis Pharmaceuticals Inc. (IONS) Stock Rating Lowered by Zacks Investment Research
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Ionis Pharmaceuticals, Inc. is a RNA-targeted drug discovery and development company which focuses on developing drugs for severe and rare diseases. Ionis Pharmaceuticals, Inc., formerly known as Isis Pharmaceuticals, Inc., is headquartered in Carlsbad, California. “
A number of other equities research analysts also recently issued reports on the company. Jefferies Group reissued a “sell” rating and set a $17.00 price target on shares of Ionis Pharmaceuticals in a research report on Thursday, November 10th. Wells Fargo & Co. reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Friday, August 19th. Janney Montgomery Scott assumed coverage on Ionis Pharmaceuticals in a research report on Wednesday, September 28th. They set a “buy” rating and a $47.00 price target on the stock. Piper Jaffray Cos. upped their target price on Ionis Pharmaceuticals from $36.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 10th. Finally, Cowen and Company restated a “market perform” rating on shares of Ionis Pharmaceuticals in a research note on Saturday, August 13th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $42.69.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) opened at 45.12 on Thursday. The stock has a 50 day moving average price of $32.94 and a 200 day moving average price of $30.39. Ionis Pharmaceuticals has a 1-year low of $19.59 and a 1-year high of $63.71. The firm’s market capitalization is $5.47 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.02. The company had revenue of $110.90 million for the quarter, compared to analyst estimates of $114.65 million. Ionis Pharmaceuticals had a negative return on equity of 120.60% and a negative net margin of 77.30%. Ionis Pharmaceuticals’s quarterly revenue was up 125.9% compared to the same quarter last year. Equities research analysts anticipate that Ionis Pharmaceuticals will post ($1.06) earnings per share for the current fiscal year.
In related news, COO B Lynne Parshall sold 12,500 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 25,558 shares of the company’s stock, valued at approximately $763,673.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Stanley T. Crooke sold 22,000 shares of the firm’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $35.50, for a total value of $781,000.00. Following the transaction, the chairman now directly owns 45,029 shares of the company’s stock, valued at $1,598,529.50. The disclosure for this sale can be found here. Corporate insiders own 1.86% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in IONS. Geode Capital Management LLC increased its stake in shares of Ionis Pharmaceuticals by 4.4% in the first quarter. Geode Capital Management LLC now owns 760,951 shares of the company’s stock worth $30,802,000 after buying an additional 31,981 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in shares of Ionis Pharmaceuticals by 21.9% in the second quarter. Tocqueville Asset Management L.P. now owns 1,326,120 shares of the company’s stock worth $30,885,000 after buying an additional 238,566 shares during the last quarter. Broderick Brian C increased its stake in shares of Ionis Pharmaceuticals by 25.4% in the second quarter. Broderick Brian C now owns 24,444 shares of the company’s stock worth $570,000 after buying an additional 4,949 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Ionis Pharmaceuticals by 23.8% in the second quarter. Neuberger Berman Group LLC now owns 20,516 shares of the company’s stock worth $478,000 after buying an additional 3,948 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Ionis Pharmaceuticals by 4.1% in the second quarter. Vanguard Group Inc. now owns 8,794,783 shares of the company’s stock worth $204,831,000 after buying an additional 349,172 shares during the last quarter. 88.35% of the stock is 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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