Ionis Pharmaceuticals Inc (IONS) Given Consensus Rating of “Hold” by Analysts
Ionis Pharmaceuticals Inc (NASDAQ:IONS) has received an average rating of “Hold” from the fifteen research firms that are presently covering the firm. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $42.93.
A number of equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price target on shares of Ionis Pharmaceuticals in a research report on Monday, March 6th. Leerink Swann raised their price target on Ionis Pharmaceuticals from $40.00 to $47.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 27th. Goldman Sachs Group Inc lowered Ionis Pharmaceuticals from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $28.00 to $25.00 in a research report on Friday, March 10th. BMO Capital Markets dropped their price target on Ionis Pharmaceuticals from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 7th. Finally, Zacks Investment Research raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Wednesday, January 11th.
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Shares of Ionis Pharmaceuticals (NASDAQ:IONS) opened at 40.07 on Thursday. Ionis Pharmaceuticals has a 12 month low of $19.59 and a 12 month high of $57.00. The company’s market cap is $4.96 billion. The firm’s 50-day moving average price is $45.67 and its 200-day moving average price is $40.78.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Tuesday, February 28th. The company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.45. The company had revenue of $160.30 million for the quarter, compared to analyst estimates of $97.47 million. Ionis Pharmaceuticals had a negative return on equity of 120.60% and a negative net margin of 77.30%. Ionis Pharmaceuticals’s revenue was up 210.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.59) earnings per share. Equities analysts predict that Ionis Pharmaceuticals will post ($0.58) EPS for the current fiscal year.
In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 18,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $48.89, for a total transaction of $914,243.00. Following the transaction, the chairman now owns 30,029 shares of the company’s stock, valued at approximately $1,468,117.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP C Frank Bennett sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the transaction, the senior vice president now directly owns 19,788 shares in the company, valued at approximately $1,088,340. The disclosure for this sale can be found here. In the last three months, insiders sold 73,598 shares of company stock worth $3,556,863. 1.86% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Tobam bought a new position in Ionis Pharmaceuticals during the second quarter valued at $4,630,000. BNP Paribas Arbitrage SA raised its position in Ionis Pharmaceuticals by 182.0% in the third quarter. BNP Paribas Arbitrage SA now owns 51,100 shares of the company’s stock valued at $1,872,000 after buying an additional 32,982 shares during the period. Gofen & Glossberg LLC IL bought a new position in Ionis Pharmaceuticals during the third quarter valued at $247,000. HL Financial Services LLC bought a new position in Ionis Pharmaceuticals during the third quarter valued at $216,000. Finally, Commonwealth Equity Services Inc raised its position in Ionis Pharmaceuticals by 15.8% in the third quarter. Commonwealth Equity Services Inc now owns 19,011 shares of the company’s stock valued at $697,000 after buying an additional 2,594 shares during the period. 87.76% of the stock is currently owned by hedge funds and other institutional investors.
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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