Ionis Pharmaceuticals (NASDAQ:IONS) had its price target lowered by Piper Jaffray Companies from $75.00 to $70.00 in a research report sent to investors on Thursday, The Fly reports. Piper Jaffray Companies currently has a neutral rating on the stock. Piper Jaffray Companies also issued estimates for Ionis Pharmaceuticals’ Q3 2020 earnings at $0.05 EPS, Q1 2021 earnings at $0.35 EPS, Q2 2021 earnings at $0.40 EPS and Q3 2021 earnings at $0.40 EPS.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Ionis Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, October 29th. BMO Capital Markets lowered their target price 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. Needham & Company LLC reiterated a buy rating and set a $87.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday. Sanford C. Bernstein upgraded Ionis Pharmaceuticals from a market perform rating to an outperform rating and set a $80.00 target price on the stock in a research note on Tuesday, September 10th. Finally, ValuEngine upgraded Ionis Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Ionis Pharmaceuticals currently has a consensus rating of Hold and a consensus target price of $73.45.
Shares of IONS traded up $1.71 during trading hours on Thursday, reaching $57.06. The stock had a trading volume of 925,100 shares, compared to its average volume of 1,150,599. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 15.24 and a beta of 1.90. Ionis Pharmaceuticals has a 12 month low of $48.27 and a 12 month high of $86.58. The company has a current ratio of 10.01, a quick ratio of 9.93 and a debt-to-equity ratio of 0.45. The firm has a 50-day simple moving average of $57.99 and a 200 day simple moving average of $64.32.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Wednesday, November 6th. The company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.49. The company had revenue of $168.00 million for the quarter, compared to analysts’ expectations of $152.47 million. Ionis Pharmaceuticals had a return on equity of 38.70% and a net margin of 49.90%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) EPS. On average, equities analysts forecast that Ionis Pharmaceuticals will post 0.25 EPS for the current year.
In related news, Chairman Stanley T. Crooke sold 22,000 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $71.52, for a total value of $1,573,440.00. Following the completion of the sale, the chairman now owns 79,634 shares of the company’s stock, valued at approximately $5,695,423.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. grew its holdings in 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 in the last quarter. Renaissance Technologies LLC purchased a new position in Ionis Pharmaceuticals during the 2nd quarter valued at about $112,814,000. BlackRock Inc. grew its holdings in 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Ionis Pharmaceuticals by 357.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 805,100 shares of the company’s stock valued at $51,744,000 after buying an additional 629,275 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Ionis Pharmaceuticals by 3,803.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 482,909 shares of the company’s stock valued at $31,037,000 after buying an additional 470,539 shares in the last quarter. 88.89% of the stock is owned by institutional investors.
Ionis Pharmaceuticals Company Profile
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.
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