Ionis Pharmaceuticals (NASDAQ:IONS) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Other equities analysts have also issued research reports about the company. TheStreet upgraded Ionis Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Friday, March 1st. Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Wednesday, January 2nd. Morgan Stanley set a $71.00 price objective on Ionis Pharmaceuticals and gave the stock a “hold” rating in a research note on Friday, March 1st. Piper Jaffray Companies set a $63.00 price objective on Ionis Pharmaceuticals and gave the stock a “hold” rating in a research note on Friday, March 1st. Finally, Leerink Swann started coverage on Ionis Pharmaceuticals in a research note on Tuesday, November 27th. They set a “market perform” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $60.57.
Ionis Pharmaceuticals stock opened at $77.44 on Friday. Ionis Pharmaceuticals has a one year low of $39.07 and a one year high of $78.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 7.85 and a current ratio of 7.88. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 26.16 and a beta of 2.40.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Wednesday, February 27th. The company reported $2.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $2.20. Ionis Pharmaceuticals had a return on equity of 41.89% and a net margin of 45.64%. The firm had revenue of $192.00 million for the quarter, compared to analyst estimates of $159.59 million. During the same quarter last year, the company earned ($0.03) EPS. The company’s revenue was up 14.3% on a year-over-year basis. Equities research analysts expect that Ionis Pharmaceuticals will post -0.05 earnings per share for the current fiscal year.
In other news, Director B Lynne Parshall sold 8,333 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $70.00, for a total value of $583,310.00. Following the transaction, the director now owns 61,010 shares in the company, valued at approximately $4,270,700. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Elizabeth L. Hougen sold 4,063 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $52.03, for a total value of $211,397.89. Following the completion of the transaction, the senior vice president now owns 16,774 shares in the company, valued at approximately $872,751.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,660 shares of company stock worth $12,739,354. Corporate insiders own 2.44% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. increased its stake in shares of Ionis Pharmaceuticals by 34.8% in the 4th quarter. American Century Companies Inc. now owns 1,604,974 shares of the company’s stock valued at $86,765,000 after purchasing an additional 414,255 shares during the last quarter. Geode Capital Management LLC grew its position in Ionis Pharmaceuticals by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 1,341,433 shares of the company’s stock worth $72,517,000 after acquiring an additional 82,152 shares during the last quarter. Norges Bank bought a new stake in Ionis Pharmaceuticals during the 4th quarter worth $54,463,000. Dimensional Fund Advisors LP grew its position in Ionis Pharmaceuticals by 9.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 292,868 shares of the company’s stock worth $15,827,000 after acquiring an additional 24,169 shares during the last quarter. Finally, Amalgamated Bank grew its position in Ionis Pharmaceuticals by 62.9% during the 4th quarter. Amalgamated Bank now owns 27,879 shares of the company’s stock worth $1,507,000 after acquiring an additional 10,762 shares during the last quarter. Institutional investors own 84.84% of the company’s stock.
About Ionis Pharmaceuticals
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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