Ionis Pharmaceuticals, Inc. (IONS) Given Consensus Rating of “Hold” by Brokerages
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) has earned an average rating of “Hold” from the seventeen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $48.67.
A number of equities analysts recently weighed in on the stock. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $30.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday. BMO Capital Markets reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Ionis Pharmaceuticals in a research report on Monday, October 2nd. Jefferies Group LLC reaffirmed an “underperform” rating and set a $18.00 price objective (up previously from $17.00) on shares of Ionis Pharmaceuticals in a research report on Thursday, August 10th. Laidlaw reaffirmed a “buy” rating and set a $65.00 price objective on shares of Ionis Pharmaceuticals in a research report on Monday, August 14th. Finally, Sanford C. Bernstein assumed coverage on shares of 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.
Shares of Ionis Pharmaceuticals (IONS) traded down 0.82% during mid-day trading on Friday, hitting $55.55. The company had a trading volume of 689,199 shares. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 267.07 and a beta of 3.12. The firm has a 50-day moving average price of $53.28 and a 200 day moving average price of $48.97. Ionis Pharmaceuticals has a 52-week low of $24.58 and a 52-week 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 the Zacks’ consensus estimate of ($0.06) by ($0.03). The company had revenue of $104.15 million for the quarter, compared to analysts’ expectations of $93.29 million. Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The business’s revenue for the quarter was up 170.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.47) EPS. Analysts expect that Ionis Pharmaceuticals will post ($0.17) earnings per share for the current year.
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In other news, SVP Patrick R. O’neil sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $55.00, for a total value of $55,000.00. Following the sale, the senior vice president now directly owns 10,633 shares in the company, valued at approximately $584,815. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ionis Pharmaceuticals Inc acquired 3,125,000 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, July 19th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $25,000,000.00. Following the completion of the acquisition, the insider now directly owns 28,884,540 shares in the company, valued at approximately $231,076,320. The disclosure for this purchase can be found here. Insiders sold a total of 82,000 shares of company stock worth $4,411,650 over the last 90 days. Company insiders own 1.86% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Nomura Holdings Inc. raised its holdings in shares of Ionis Pharmaceuticals by 105.7% in the 1st quarter. Nomura Holdings Inc. now owns 103,933 shares of the company’s stock valued at $4,179,000 after purchasing an additional 53,395 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Ionis Pharmaceuticals by 62.8% in the 2nd quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock valued at $109,000 after purchasing an additional 800 shares in the last quarter. Aviva PLC acquired a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter valued at $10,187,000. Credit Suisse AG raised its holdings in shares of Ionis Pharmaceuticals by 79.2% in the 1st quarter. Credit Suisse AG now owns 385,145 shares of the company’s stock valued at $15,483,000 after purchasing an additional 170,192 shares in the last quarter. Finally, Allen Investment Management LLC raised its holdings in shares of Ionis Pharmaceuticals by 64.7% in the 2nd quarter. Allen Investment Management LLC now owns 15,652 shares of the company’s stock valued at $796,000 after purchasing an additional 6,147 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.
About Ionis Pharmaceuticals
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.
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