Stock analysts at Janney Montgomery Scott began coverage on shares of Ionis Pharmaceuticals Inc. (NASDAQ:IONS) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating on the stock.
Other analysts have also issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Ionis Pharmaceuticals in a research note on Friday, July 8th. Piper Jaffray Cos. reiterated a “buy” rating and issued a $35.00 price objective on shares of Ionis Pharmaceuticals in a research note on Friday, June 10th. Cowen and Company reiterated a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, August 3rd. Wells Fargo & Co. reissued a “buy” rating on shares of Ionis Pharmaceuticals in a research report on Sunday, September 11th. Finally, Morgan Stanley initiated coverage on shares of Ionis Pharmaceuticals in a research report on Tuesday, August 2nd. They issued an “equal weight” rating and a $37.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $41.82.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) opened at 35.57 on Wednesday. The company’s market capitalization is $4.30 billion. Ionis Pharmaceuticals has a 52-week low of $19.59 and a 52-week high of $65.34. The firm’s 50-day moving average is $32.53 and its 200 day moving average is $32.43.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.05. The company earned $38.50 million during the quarter, compared to analyst estimates of $38.52 million. Ionis Pharmaceuticals had a negative net margin of 128.94% and a negative return on equity of 126.88%. The company’s quarterly revenue was down 68.0% compared to the same quarter last year. On average, equities research analysts anticipate that Ionis Pharmaceuticals will post ($1.11) earnings per share for the current year.
In other news, Chairman Stanley T. Crooke sold 22,000 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $36.02, for a total transaction of $792,440.00. Following the sale, the chairman now directly owns 45,029 shares in the company, valued at approximately $1,621,944.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO B Lynne Parshall sold 12,500 shares of Ionis Pharmaceuticals stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $29.88, for a total value of $373,500.00. Following the sale, the chief operating officer now owns 25,558 shares in the company, valued at $763,673.04. The disclosure for this sale can be found here. Insiders own 1.86% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in Ionis Pharmaceuticals by 372.6% in the second quarter. AQR Capital Management LLC now owns 1,858,239 shares of the company’s stock worth $43,278,000 after buying an additional 1,465,004 shares during the last quarter. State Street Corp boosted its stake in shares of Ionis Pharmaceuticals by 39.8% in the second quarter. State Street Corp now owns 4,246,911 shares of the company’s stock worth $98,915,000 after buying an additional 1,209,523 shares in the last quarter. Norges Bank purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth about $63,121,000. Fiera Capital Corp purchased a new stake in shares of Ionis Pharmaceuticals during the second quarter worth about $22,326,000. Finally, BVF Inc. IL purchased a new stake in shares of Ionis Pharmaceuticals during the second quarter worth about $19,797,000. Institutional investors own 89.58% of the company’s stock.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
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