Ionis Pharmaceuticals, Inc. (IONS) Upgraded by Zacks Investment Research to Strong-Buy
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday. The firm presently has a $68.00 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.15% from the stock’s current price.
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. “
IONS has been the topic of a number of other research reports. Stifel Nicolaus raised their price target on Ionis Pharmaceuticals from $42.00 to $50.00 and gave the company a “hold” rating in a research report on Wednesday, August 9th. TheStreet upgraded Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research report on Wednesday, July 5th. Needham & Company LLC restated a “buy” rating and set a $64.00 price target on shares of Ionis Pharmaceuticals in a research report on Wednesday, July 26th. Evercore ISI began coverage on Ionis Pharmaceuticals in a research report on Wednesday, August 16th. They set an “outperform” rating and a $65.00 price target on the stock. Finally, Laidlaw restated a “buy” rating and set a $65.00 price target on shares of Ionis Pharmaceuticals in a research report on Monday, August 14th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Ionis Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $50.04.
Ionis Pharmaceuticals (NASDAQ:IONS) opened at 61.15 on Tuesday. The firm has a market capitalization of $7.60 billion, a PE ratio of 293.99 and a beta of 3.12. The firm has a 50-day moving average price of $54.75 and a 200 day moving average price of $49.79. Ionis Pharmaceuticals has a one year low of $24.58 and a one year high of $63.20.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The business had revenue of $104.15 million during the quarter, compared to analysts’ expectations of $93.29 million. During the same quarter last year, the business posted ($0.47) EPS. The company’s quarterly revenue was up 170.7% on a year-over-year basis. Analysts anticipate that Ionis Pharmaceuticals will post ($0.16) EPS for the current fiscal year.
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In other news, CEO Stanley T. Crooke sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $52.00, for a total transaction of $780,000.00. Following the transaction, the chief executive officer now directly owns 43,014 shares of the company’s stock, valued at $2,236,728. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Stanley T. Crooke sold 11,000 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $55.35, for a total value of $608,850.00. Following the transaction, the chairman now directly owns 48,014 shares in the company, valued at $2,657,574.90. The disclosure for this sale can be found here. Insiders have sold 65,500 shares of company stock worth $3,546,225 over the last ninety days. Insiders own 2.13% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of IONS. Parallel Advisors LLC grew its stake in shares of Ionis Pharmaceuticals by 62.8% in the second quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock worth $109,000 after purchasing an additional 800 shares during the last quarter. Hanseatic Management Services Inc. grew its stake in shares of Ionis Pharmaceuticals by 1.2% in the second quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock worth $177,000 after purchasing an additional 41 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Ionis Pharmaceuticals by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock worth $190,000 after purchasing an additional 311 shares during the last quarter. WFG Advisors LP grew its stake in shares of Ionis Pharmaceuticals by 77.2% in the second quarter. WFG Advisors LP now owns 3,800 shares of the company’s stock worth $193,000 after purchasing an additional 1,655 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Ionis Pharmaceuticals in the second quarter worth about $222,000. 89.24% of the stock is currently owned by institutional investors.
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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