Ionis Pharmaceuticals Inc. (NASDAQ:IONS)‘s stock had its “outperform” rating reaffirmed by BMO Capital Markets in a research report issued on Monday. They currently have a $48.00 price target on the stock. BMO Capital Markets’ price target indicates a potential upside of 67.71% from the stock’s current price.
Other analysts have also recently issued reports about the company. Cowen and Company restated a “buy” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, August 3rd. Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, July 8th. Wells Fargo & Co. reiterated a “buy” rating on shares of Ionis Pharmaceuticals in a report on Sunday, September 11th. Janney Montgomery Scott initiated coverage on Ionis Pharmaceuticals in a report on Wednesday, September 28th. They issued a “buy” rating and a $47.00 target price on the stock. Finally, Morgan Stanley initiated coverage on Ionis Pharmaceuticals in a report on Tuesday, August 2nd. They issued an “equal weight” rating and a $37.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $42.92.
Ionis Pharmaceuticals (NASDAQ:IONS) opened at 28.62 on Monday. Ionis Pharmaceuticals has a 52 week low of $19.59 and a 52 week high of $65.34. The stock’s 50 day moving average is $32.35 and its 200 day moving average is $31.77. The company’s market capitalization is $3.46 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.05. The company had revenue of $38.50 million for the quarter, compared to analysts’ expectations of $38.52 million. Ionis Pharmaceuticals had a negative return on equity of 126.88% and a negative net margin of 128.94%. Ionis Pharmaceuticals’s revenue for the quarter was down 68.0% on a year-over-year basis. Analysts predict that Ionis Pharmaceuticals will post ($1.11) EPS for the current fiscal year.
In other news, Chairman Stanley T. Crooke sold 22,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 45,029 shares of the company’s stock, valued at $1,621,944.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO B Lynne Parshall sold 12,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly 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 institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Ionis Pharmaceuticals by 4.4% in the first quarter. Geode Capital Management LLC now owns 760,951 shares of the company’s stock worth $30,802,000 after buying an additional 31,981 shares during the last quarter. Parametric Risk Advisors LLC purchased a new position in shares of Ionis Pharmaceuticals during the first quarter worth $106,000. Altrinsic Global Advisors LLC raised its position in shares of Ionis Pharmaceuticals by 197.4% in the first quarter. Altrinsic Global Advisors LLC now owns 617,886 shares of the company’s stock worth $25,024,000 after buying an additional 410,129 shares during the last quarter. AXA raised its position in shares of Ionis Pharmaceuticals by 15.8% in the first quarter. AXA now owns 367,016 shares of the company’s stock worth $14,864,000 after buying an additional 50,158 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of Ionis Pharmaceuticals by 79.1% in the first quarter. Pictet Asset Management Ltd. now owns 73,800 shares of the company’s stock worth $2,550,000 after buying an additional 32,600 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors.
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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