Brokerages Set Ionis Pharmaceuticals, Inc. (IONS) PT at $48.67
Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) have been assigned an average rating of “Hold” from the seventeen research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $48.67.
IONS has been the subject of several recent research reports. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $30.00 target price on shares of Ionis Pharmaceuticals in a research note on Friday, October 6th. TheStreet raised shares of Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research note on Wednesday, July 5th. Needham & Company LLC reissued a “buy” rating and set a $64.00 target price on shares of Ionis Pharmaceuticals in a research note on Sunday, September 17th. Finally, Barclays PLC initiated coverage on shares of Ionis Pharmaceuticals in a research note on Wednesday, September 6th. They set an “equal weight” rating and a $55.00 target price for the company.
Shares of Ionis Pharmaceuticals (NASDAQ IONS) traded up 0.73% on Friday, hitting $57.73. The company had a trading volume of 1,152,590 shares. The company has a 50-day moving average of $54.28 and a 200 day moving average of $49.49. Ionis Pharmaceuticals has a 12 month low of $24.58 and a 12 month high of $60.01. The stock has a market cap of $7.18 billion, a PE ratio of 277.55 and a beta of 3.12.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The business had revenue of $104.15 million for the quarter, compared to analyst estimates of $93.29 million. During the same period in the prior year, the company earned ($0.47) earnings per share. The firm’s revenue for the quarter was up 170.7% on a year-over-year basis. Analysts anticipate that Ionis Pharmaceuticals will post ($0.17) EPS for the current fiscal year.
In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 16,500 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $52.45, for a total value of $865,425.00. Following the completion of the sale, the chairman now owns 53,014 shares in the company, valued at approximately $2,780,584.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP C Frank Bennett sold 10,000 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $59.29, for a total transaction of $592,900.00. Following the completion of the sale, the senior vice president now owns 25,041 shares of the company’s stock, valued at approximately $1,484,680.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,000 shares of company stock valued at $4,411,650. 1.86% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Hanseatic Management Services Inc. lifted its position in Ionis Pharmaceuticals by 1.2% in the 2nd quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock worth $177,000 after buying an additional 41 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Ionis Pharmaceuticals by 0.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 9,673 shares of the company’s stock worth $492,000 after buying an additional 43 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in Ionis Pharmaceuticals by 0.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 24,390 shares of the company’s stock worth $1,241,000 after buying an additional 65 shares in the last quarter. Utah Retirement Systems lifted its position in Ionis Pharmaceuticals by 0.5% in the 1st quarter. Utah Retirement Systems now owns 22,000 shares of the company’s stock worth $884,000 after buying an additional 100 shares in the last quarter. Finally, World Asset Management Inc lifted its position in Ionis Pharmaceuticals by 3.4% in the 2nd quarter. World Asset Management Inc now owns 5,614 shares of the company’s stock worth $286,000 after buying an additional 187 shares in the last quarter. Institutional investors own 89.24% 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.
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