BMO Capital Markets reiterated their outperform rating on shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in a report published on Wednesday, July 12th. The brokerage currently has a $62.00 price target on the stock, up from their previous price target of $59.00.

A number of other brokerages have also weighed in on IONS. Stifel Nicolaus restated a hold rating and issued a $42.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday, July 10th. TheStreet upgraded Ionis Pharmaceuticals from a d+ rating to a c- rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a hold rating to a buy rating and set a $58.00 price objective on the stock in a report on Wednesday, July 12th. Needham & Company LLC reaffirmed a buy rating and issued a $64.00 target price on shares of Ionis Pharmaceuticals in a research report on Wednesday, May 17th. Finally, Leerink Swann reissued an outperform rating and set a $45.00 price objective (down from $47.00) on shares of Ionis Pharmaceuticals in a research report on Wednesday, May 17th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Ionis Pharmaceuticals currently has an average rating of Hold and a consensus price target of $46.44.

Shares of Ionis Pharmaceuticals (IONS) opened at 52.56 on Wednesday. The company’s 50-day moving average is $53.06 and its 200-day moving average is $46.75. The stock’s market cap is $6.52 billion. Ionis Pharmaceuticals has a 1-year low of $24.58 and a 1-year high of $60.01.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Tuesday, May 9th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.13. The company had revenue of $110.30 million for the quarter, compared to analyst estimates of $86.03 million. Ionis Pharmaceuticals had a negative return on equity of 14.61% and a negative net margin of 4.80%. The firm’s revenue for the quarter was up 199.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.52) EPS. Equities analysts expect that Ionis Pharmaceuticals will post ($0.03) EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://www.thecerbatgem.com/2017/08/08/ionis-pharmaceuticals-inc-ions-given-outperform-rating-at-bmo-capital-markets-updated-updated-updated.html.

In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 16,500 shares of the company’s 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 sale, the chairman now owns 53,014 shares of the company’s stock, valued at $2,780,584.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ionis Pharmaceuticals Inc acquired 3,125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were bought at an average cost of $8.00 per share, for a total transaction of $25,000,000.00. Following the purchase, the insider now owns 28,884,540 shares of the company’s stock, valued at $231,076,320. The disclosure for this purchase can be found here. Insiders have sold 54,379 shares of company stock valued at $2,946,052 in the last 90 days. Company insiders own 1.86% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in IONS. FMR LLC increased its position in Ionis Pharmaceuticals by 2.1% in the first quarter. FMR LLC now owns 18,562,420 shares of the company’s stock worth $746,210,000 after buying an additional 381,975 shares during the period. Vanguard Group Inc. increased its position in Ionis Pharmaceuticals by 4.3% in the first quarter. Vanguard Group Inc. now owns 9,437,796 shares of the company’s stock worth $379,399,000 after buying an additional 384,830 shares during the period. Wellington Management Group LLP increased its position in Ionis Pharmaceuticals by 56.1% in the first quarter. Wellington Management Group LLP now owns 9,360,553 shares of the company’s stock worth $376,295,000 after buying an additional 3,364,621 shares during the period. BB Biotech AG increased its stake in shares of Ionis Pharmaceuticals by 7.9% in the first quarter. BB Biotech AG now owns 7,461,295 shares of the company’s stock valued at $299,944,000 after buying an additional 548,123 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Ionis Pharmaceuticals by 37,569.7% in the first quarter. BlackRock Inc. now owns 6,559,808 shares of the company’s stock valued at $263,704,000 after buying an additional 6,542,394 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

About Ionis Pharmaceuticals

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.

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.