Ionis Pharmaceuticals (NASDAQ:IONS) released its quarterly earnings results on Tuesday. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10, MarketWatch Earnings reports. The company had revenue of $145.40 million during the quarter, compared to analysts’ expectations of $146.77 million. Ionis Pharmaceuticals had a negative return on equity of 1.22% and a negative net margin of 7.20%. Ionis Pharmaceuticals’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) EPS.
Shares of Ionis Pharmaceuticals stock traded up $0.66 during mid-day trading on Wednesday, reaching $54.31. 28,381 shares of the stock traded hands, compared to its average volume of 1,192,375. Ionis Pharmaceuticals has a fifty-two week low of $39.07 and a fifty-two week high of $57.92. The stock has a market capitalization of $7.10 billion, a P/E ratio of 678.81 and a beta of 2.39. The company has a debt-to-equity ratio of 0.76, a current ratio of 8.38 and a quick ratio of 8.34.
IONS has been the subject of a number of research analyst reports. ValuEngine raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Morgan Stanley reduced their target price on Ionis Pharmaceuticals from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Tuesday, August 28th. Piper Jaffray Companies set a $50.00 target price on Ionis Pharmaceuticals and gave the company a “hold” rating in a report on Monday, September 24th. Stifel Nicolaus increased their target price on Ionis Pharmaceuticals from $45.00 to $48.00 and gave the company a “hold” rating in a report on Tuesday, September 25th. Finally, Zacks Investment Research raised Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $52.00 target price for the company in a report on Tuesday, July 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $53.86.
In related news, COO Brett P. Monia sold 16,493 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $54.00, for a total value of $890,622.00. Following the completion of the sale, the chief operating officer now owns 24,834 shares of the company’s stock, valued at $1,341,036. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP C Frank Bennett sold 12,500 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $49.54, for a total value of $619,250.00. Following the completion of the sale, the senior vice president now directly owns 31,896 shares of the company’s stock, valued at approximately $1,580,127.84. The disclosure for this sale can be found here. 2.44% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of IONS. Baillie Gifford & Co. increased its holdings in shares of Ionis Pharmaceuticals by 48.2% in the second quarter. Baillie Gifford & Co. now owns 9,279,730 shares of the company’s stock valued at $386,687,000 after purchasing an additional 3,017,079 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Ionis Pharmaceuticals by 99.1% in the third quarter. First Trust Advisors LP now owns 2,125,724 shares of the company’s stock valued at $109,645,000 after purchasing an additional 1,057,960 shares during the last quarter. First Light Asset Management LLC increased its holdings in shares of Ionis Pharmaceuticals by 1,064.2% in the second quarter. First Light Asset Management LLC now owns 494,347 shares of the company’s stock valued at $20,599,000 after purchasing an additional 451,883 shares during the last quarter. Peregrine Capital Management LLC acquired a new stake in shares of Ionis Pharmaceuticals in the second quarter valued at approximately $13,616,000. Finally, Motley Fool Wealth Management LLC increased its holdings in shares of Ionis Pharmaceuticals by 62.7% in the second quarter. Motley Fool Wealth Management LLC now owns 535,296 shares of the company’s stock valued at $22,306,000 after purchasing an additional 206,322 shares during the last quarter. 86.35% of the stock is owned by hedge funds and other institutional investors.
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Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.
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