Ionis Pharmaceuticals (NASDAQ:IONS) released its earnings results on Tuesday. The company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.10, Morningstar.com reports. Ionis Pharmaceuticals had a return on equity of 7.50% and a net margin of 3.46%. The company had revenue of $172.00 million for the quarter, compared to analysts’ expectations of $126.38 million. During the same quarter in the previous year, the business posted $0.33 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) traded up $0.10 during midday trading on Wednesday, hitting $51.47. The company had a trading volume of 1,593,000 shares, compared to its average volume of 947,577. The company has a market cap of $6,410.75, a PE ratio of 349.46 and a beta of 2.53. Ionis Pharmaceuticals has a 1-year low of $37.26 and a 1-year high of $65.51. The company has a current ratio of 6.25, a quick ratio of 6.21 and a debt-to-equity ratio of 1.50.
Several equities analysts have weighed in on the company. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $55.00 target price (down previously from $61.00) on shares of Ionis Pharmaceuticals in a research note on Tuesday, February 20th. Zacks Investment Research cut Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. BidaskClub cut Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. BMO Capital Markets lifted their target price on Ionis Pharmaceuticals from $64.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th. Finally, Morgan Stanley lifted their target price on Ionis Pharmaceuticals from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 8th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $50.62.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB acquired a new stake in Ionis Pharmaceuticals in the 4th quarter worth approximately $599,000. Iguana Healthcare Management LLC lifted its holdings in Ionis Pharmaceuticals by 166.7% in the 4th quarter. Iguana Healthcare Management LLC now owns 40,000 shares of the company’s stock worth $2,012,000 after purchasing an additional 25,000 shares during the last quarter. LPL Financial LLC lifted its holdings in Ionis Pharmaceuticals by 14.6% in the 4th quarter. LPL Financial LLC now owns 50,677 shares of the company’s stock worth $2,549,000 after purchasing an additional 6,465 shares during the last quarter. Millennium Management LLC lifted its holdings in Ionis Pharmaceuticals by 1.5% in the 4th quarter. Millennium Management LLC now owns 195,917 shares of the company’s stock worth $9,855,000 after purchasing an additional 2,874 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in Ionis Pharmaceuticals by 1.4% in the 4th quarter. Teachers Advisors LLC now owns 134,007 shares of the company’s stock worth $6,741,000 after purchasing an additional 1,913 shares during the last quarter. Hedge funds and other institutional investors own 91.01% of the company’s stock.
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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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