Zacks Investment Research upgraded shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) from a hold rating to a buy rating in a research report report published on Monday. Zacks Investment Research currently has $59.00 price objective on the stock.

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. “

Several other brokerages have also recently issued reports on IONS. Sanford C. Bernstein initiated coverage on Ionis Pharmaceuticals in a report on Thursday, July 27th. They set a market perform rating and a $57.00 price objective on the stock. Needham & Company LLC reaffirmed a buy rating and set a $64.00 price objective on shares of Ionis Pharmaceuticals in a report on Wednesday, July 26th. BMO Capital Markets reaffirmed an outperform rating and set a $62.00 price objective (up from $59.56) on shares of Ionis Pharmaceuticals in a report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a hold rating and set a $42.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday, July 10th. Finally, Cowen and Company reaffirmed a market perform rating on shares of Ionis Pharmaceuticals in a report on Monday, May 22nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Ionis Pharmaceuticals presently has an average rating of Hold and a consensus target price of $46.44.

Shares of Ionis Pharmaceuticals (NASDAQ IONS) traded up 0.47% during midday trading on Monday, reaching $51.02. 764,413 shares of the company were exchanged. The company has a 50 day moving average price of $53.06 and a 200-day moving average price of $46.75. The stock’s market capitalization is $6.32 billion. Ionis Pharmaceuticals has a 12-month low of $24.58 and a 12-month high of $60.01.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Tuesday, May 9th. The company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.13. Ionis Pharmaceuticals had a negative return on equity of 14.61% and a negative net margin of 4.80%. The company had revenue of $110.30 million for the quarter, compared to analysts’ expectations of $86.03 million. During the same period in the previous year, the firm earned ($0.52) EPS. The firm’s revenue was up 199.2% compared to the same quarter last year. On average, analysts forecast that Ionis Pharmaceuticals will post ($0.15) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Ionis Pharmaceuticals, Inc. (IONS) Upgraded at Zacks Investment Research” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/03/ionis-pharmaceuticals-inc-ions-upgraded-at-zacks-investment-research.html.

In other news, major shareholder Ionis Pharmaceuticals Inc purchased 3,125,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were acquired at an average price of $8.00 per share, with a total value of $25,000,000.00. Following the transaction, the insider now owns 28,884,540 shares of the company’s stock, valued at $231,076,320. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Stanley T. Crooke sold 16,500 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $52.45, for a total value of $865,425.00. Following the transaction, the chairman now directly owns 53,014 shares in the company, valued at approximately $2,780,584.30. The disclosure for this sale can be found here. Insiders sold a total of 54,379 shares of company stock worth $2,946,052 in the last ninety days. 1.86% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of IONS. Wrapmanager Inc. boosted its stake in shares of Ionis Pharmaceuticals by 4.0% in the first quarter. Wrapmanager Inc. now owns 18,024 shares of the company’s stock worth $725,000 after buying an additional 696 shares during the period. Grandfield & Dodd LLC boosted its stake in shares of Ionis Pharmaceuticals by 1.1% in the first quarter. Grandfield & Dodd LLC now owns 12,119 shares of the company’s stock worth $487,000 after buying an additional 135 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Ionis Pharmaceuticals by 72.4% in the first quarter. Canada Pension Plan Investment Board now owns 111,410 shares of the company’s stock worth $4,479,000 after buying an additional 46,800 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Ionis Pharmaceuticals by 12.0% in the first quarter. Janney Montgomery Scott LLC now owns 49,690 shares of the company’s stock worth $1,998,000 after buying an additional 5,314 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its stake in shares of Ionis Pharmaceuticals by 29.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 191,000 shares of the company’s stock worth $7,679,000 after buying an additional 43,000 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.

Get a free copy of the Zacks research report on Ionis Pharmaceuticals (IONS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

Receive News & Stock Ratings for Ionis Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.