Ionis Pharmaceuticals, Inc. (IONS) Earns Outperform Rating from BMO Capital Markets
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.
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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.
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