Ionis Pharmaceuticals, Inc. (IONS) Earns Buy Rating from Needham & Company LLC
Needham & Company LLC reiterated their buy rating on shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in a research note published on Tuesday. They currently have a $64.00 price objective on the stock.
Several other equities research analysts have also commented on IONS. Jefferies Group LLC restated an underperform rating and set a $18.00 target price (up previously from $17.00) on shares of Ionis Pharmaceuticals in a research report on Thursday, August 10th. Laidlaw restated a buy rating and set a $65.00 target price on shares of Ionis Pharmaceuticals in a research report on Monday, August 14th. BMO Capital Markets upped their target price on Ionis Pharmaceuticals from $67.00 to $69.00 and gave the company an outperform rating in a research report on Monday, August 14th. Sanford C. Bernstein assumed coverage on Ionis Pharmaceuticals in a research report on Thursday, July 27th. They set a market perform rating and a $57.00 target price on the stock. Finally, Stifel Nicolaus restated a hold rating and set a $50.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, October 13th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $50.04.
Ionis Pharmaceuticals (NASDAQ IONS) traded up 1.15% during trading on Tuesday, hitting $64.39. The stock had a trading volume of 1,631,810 shares. The firm has a market capitalization of $8.01 billion, a P/E ratio of 309.57 and a beta of 3.12. The stock has a 50 day moving average of $56.15 and a 200 day moving average of $50.31. Ionis Pharmaceuticals has a one year low of $24.58 and a one year high of $65.51.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced 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 the consensus estimate of $93.29 million. During the same quarter in the previous year, the company earned ($0.47) EPS. The firm’s revenue for the quarter was up 170.7% on a year-over-year basis. Equities research analysts expect that Ionis Pharmaceuticals will post ($0.16) earnings per share for the current fiscal year.
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In other news, SVP C Frank Bennett sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $59.29, for a total value of $592,900.00. Following the transaction, the senior vice president now owns 25,041 shares in the company, valued at $1,484,680.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Patrick R. O’neil sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $55.00, for a total value of $55,000.00. Following the completion of the transaction, the senior vice president now owns 10,633 shares in the company, valued at approximately $584,815. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,268 shares of company stock worth $4,414,545. Corporate insiders own 2.13% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC lifted its holdings 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 valued at $109,000 after purchasing an additional 800 shares in the last quarter. Aviva PLC bought a new position in shares of Ionis Pharmaceuticals in the second quarter valued at approximately $10,187,000. Credit Suisse AG lifted its holdings in shares of Ionis Pharmaceuticals by 79.2% in the first quarter. Credit Suisse AG now owns 385,145 shares of the company’s stock valued at $15,483,000 after purchasing an additional 170,192 shares in the last quarter. Allen Investment Management LLC lifted its holdings in shares of Ionis Pharmaceuticals by 64.7% in the second quarter. Allen Investment Management LLC now owns 15,652 shares of the company’s stock valued at $796,000 after purchasing an additional 6,147 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Ionis Pharmaceuticals by 21.4% in the second quarter. Russell Investments Group Ltd. now owns 20,077 shares of the company’s stock valued at $1,021,000 after purchasing an additional 3,538 shares in the last quarter. Institutional investors own 89.24% 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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