Ionis Pharmaceuticals (NASDAQ:IONS)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They currently have a $87.00 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 52.47% from the stock’s current price.
Other analysts have also issued reports about the company. BMO Capital Markets cut their price target on Ionis Pharmaceuticals from $96.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Cowen reaffirmed a “hold” rating on shares of Ionis Pharmaceuticals in a research note on Thursday. TheStreet lowered Ionis Pharmaceuticals from a “b-” rating to a “c” rating in a research note on Thursday, August 8th. ValuEngine raised Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, BidaskClub lowered Ionis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Ionis Pharmaceuticals currently has an average rating of “Hold” and an average price target of $73.45.
IONS stock traded up $1.71 during trading hours on Thursday, hitting $57.06. 925,100 shares of the stock were exchanged, compared to its average volume of 1,150,599. The company has a 50-day simple moving average of $57.99 and a two-hundred day simple moving average of $64.32. The firm has a market capitalization of $7.64 billion, a P/E ratio of 19.28, a P/E/G ratio of 15.24 and a beta of 1.90. The company has a current ratio of 10.01, a quick ratio of 9.93 and a debt-to-equity ratio of 0.45. Ionis Pharmaceuticals has a 12 month low of $48.27 and a 12 month high of $86.58.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.49. Ionis Pharmaceuticals had a return on equity of 38.70% and a net margin of 49.90%. The business had revenue of $168.00 million for the quarter, compared to analyst estimates of $152.47 million. During the same period last year, the firm posted ($0.03) earnings per share. Ionis Pharmaceuticals’s revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts predict that Ionis Pharmaceuticals will post 0.25 earnings per share for the current year.
In related news, Chairman Stanley T. Crooke sold 22,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $71.52, for a total transaction of $1,573,440.00. Following the transaction, the chairman now owns 79,634 shares of the company’s stock, valued at $5,695,423.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Ionis Pharmaceuticals by 3.1% in the second quarter. Vanguard Group Inc. now owns 12,856,865 shares of the company’s stock worth $826,311,000 after purchasing an additional 383,350 shares during the last quarter. BlackRock Inc. lifted its position in shares of Ionis Pharmaceuticals by 15.5% during the 2nd quarter. BlackRock Inc. now owns 8,802,576 shares of the company’s stock valued at $565,743,000 after buying an additional 1,181,004 shares during the last quarter. Invesco Ltd. lifted its position in shares of Ionis Pharmaceuticals by 2,754.9% during the 2nd quarter. Invesco Ltd. now owns 2,271,539 shares of the company’s stock valued at $145,992,000 after buying an additional 2,191,974 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Ionis Pharmaceuticals during the 2nd quarter valued at $112,814,000. Finally, Wells Fargo & Company MN lifted its position in shares of Ionis Pharmaceuticals by 5.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,076,304 shares of the company’s stock valued at $69,174,000 after buying an additional 59,667 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
Featured Article: What is Cost of Capital?
Receive News & Ratings for Ionis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.