Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)‘s stock had its “underperform” rating restated by analysts at Jefferies Group LLC in a research report issued to clients and investors on Thursday. They currently have a $18.00 price objective on the stock, up from their prior price objective of $17.00. Jefferies Group LLC’s target price would suggest a potential downside of 62.55% from the company’s previous close.

A number of other research firms have also recently weighed in on IONS. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price objective on shares of Ionis Pharmaceuticals in a research report on Wednesday, July 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up from $59.56) on shares of Ionis Pharmaceuticals in a research report on Tuesday, July 25th. Sanford C. Bernstein began coverage on Ionis Pharmaceuticals in a research report on Thursday, July 27th. They set a “market perform” rating and a $57.00 price objective for the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $42.00 price objective on shares of Ionis Pharmaceuticals in a research report on Monday, July 10th. Finally, TheStreet raised Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research report on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $47.13.

Ionis Pharmaceuticals (NASDAQ:IONS) opened at 48.06 on Thursday. The stock’s market capitalization is $5.96 billion. The company’s 50-day moving average price is $52.99 and its 200 day moving average price is $46.91. Ionis Pharmaceuticals has a 12 month low of $24.58 and a 12 month high of $60.01.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.03. Ionis Pharmaceuticals had a return on equity of 17.34% and a net margin of 5.25%. The company had revenue of $104.15 million for the quarter, compared to analyst estimates of $93.29 million. During the same period in the previous year, the business posted ($0.47) earnings per share. The firm’s revenue was up 170.7% compared to the same quarter last year. On average, analysts forecast that Ionis Pharmaceuticals will post $0.05 earnings per share for the current fiscal year.

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In related news, Chairman Stanley T. Crooke sold 16,500 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $52.45, for a total value of $865,425.00. Following the completion of the transaction, the chairman now directly owns 53,014 shares of the company’s stock, valued at approximately $2,780,584.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ionis Pharmaceuticals Inc acquired 3,125,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was purchased at an average cost of $8.00 per share, with a total value of $25,000,000.00. Following the completion of the purchase, the insider now directly owns 28,884,540 shares in the company, valued at $231,076,320. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 54,379 shares of company stock valued at $2,946,052. Company insiders own 1.86% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas increased its position in Ionis Pharmaceuticals by 0.4% in the second quarter. Teacher Retirement System of Texas now owns 9,673 shares of the company’s stock valued at $492,000 after buying an additional 43 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in Ionis Pharmaceuticals by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 24,390 shares of the company’s stock valued at $1,241,000 after buying an additional 65 shares during the last quarter. Utah Retirement Systems increased its position in Ionis Pharmaceuticals by 0.5% in the first quarter. Utah Retirement Systems now owns 22,000 shares of the company’s stock valued at $884,000 after buying an additional 100 shares during the last quarter. Grandfield & Dodd LLC increased its position in Ionis Pharmaceuticals by 1.1% in the first quarter. Grandfield & Dodd LLC now owns 12,119 shares of the company’s stock valued at $487,000 after buying an additional 135 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in Ionis Pharmaceuticals by 2.9% in the first quarter. Raymond James Trust N.A. now owns 5,705 shares of the company’s stock valued at $229,000 after buying an additional 159 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Company Profile

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.

Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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