Ionis Pharmaceuticals (NASDAQ:IONS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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. “
A number of other equities research analysts also recently issued reports on IONS. Stifel Nicolaus boosted their price target on Ionis Pharmaceuticals from $55.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday. BMO Capital Markets boosted their price target on Ionis Pharmaceuticals from $64.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday. Sanford C. Bernstein restated a “market perform” rating and set a $55.00 price target (down from $61.00) on shares of Ionis Pharmaceuticals in a research note on Tuesday, February 20th. BidaskClub downgraded Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. Finally, Morgan Stanley boosted their price target 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 investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Ionis Pharmaceuticals has an average rating of “Hold” and a consensus target price of $51.12.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.10. The business had revenue of $172.00 million during the quarter, compared to the consensus estimate of $126.38 million. Ionis Pharmaceuticals had a return on equity of 7.50% and a net margin of 3.46%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 EPS. equities research analysts forecast that Ionis Pharmaceuticals will post -0.14 EPS for the current fiscal year.
In other news, SVP Patrick R. O’neil sold 1,000 shares of Ionis Pharmaceuticals stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $55.50, for a total transaction of $55,500.00. Following the transaction, the senior vice president now directly owns 11,433 shares of the company’s stock, valued at approximately $634,531.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Stanley T. Crooke sold 22,000 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $50.01, for a total value of $1,100,220.00. Following the transaction, the chairman now directly owns 58,014 shares in the company, valued at $2,901,280.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,635 shares of company stock worth $6,164,561. Insiders own 2.13% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Xact Kapitalforvaltning AB purchased a new position in shares of Ionis Pharmaceuticals during the 4th quarter valued at about $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 in 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 in 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 in 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 in the last quarter. 91.01% of the stock is currently owned by hedge funds and other institutional investors.
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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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