Ionis Pharmaceuticals’ (NASDAQ:IONS) “Buy” Rating Reaffirmed at Needham & Company LLC
Needham & Company LLC restated their buy rating on shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in a report released on Wednesday morning. Needham & Company LLC currently has a $64.00 target price on the stock.
Several other research analysts have also recently weighed in on the stock. Leerink Swann reiterated an outperform rating and issued a $45.00 price target (down previously from $47.00) on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. TheStreet upgraded shares of Ionis Pharmaceuticals from a d+ rating to a c- rating in a report on Wednesday, July 5th. BMO Capital Markets reiterated a buy rating and issued a $59.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, June 2nd. Piper Jaffray Companies set a $51.00 price target on shares of Ionis Pharmaceuticals and gave the company a buy rating in a report on Wednesday, May 10th. Finally, Stifel Nicolaus reiterated a hold rating and issued a $42.00 price target on shares of Ionis Pharmaceuticals in a report on Monday, July 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Ionis Pharmaceuticals currently has a consensus rating of Hold and a consensus target price of $45.38.
Ionis Pharmaceuticals (NASDAQ IONS) opened at 52.77 on Wednesday. The firm’s market cap is $6.54 billion. Ionis Pharmaceuticals has a 1-year low of $24.58 and a 1-year high of $60.01. The company has a 50-day moving average of $52.96 and a 200-day moving average of $46.75.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Tuesday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.13. The firm had revenue of $110.30 million during the quarter, compared to analysts’ expectations of $86.03 million. Ionis Pharmaceuticals had a negative net margin of 4.80% and a negative return on equity of 14.61%. The business’s revenue for the quarter was up 199.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.52) earnings per share. Analysts predict that Ionis Pharmaceuticals will post ($0.15) earnings per share for the current year.
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In other news, Chairman Stanley T. Crooke sold 16,500 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $52.10, for a total value of $859,650.00. Following the transaction, the chairman now directly owns 51,476 shares of the company’s stock, valued at $2,681,899.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patrick R. O’neil sold 650 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $48.75, for a total transaction of $31,687.50. Following the completion of the transaction, the senior vice president now directly owns 10,299 shares in the company, valued at $502,076.25. The disclosure for this sale can be found here. Insiders sold 55,029 shares of company stock worth $2,977,740 over the last three months. Insiders own 1.86% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in IONS. 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 period. 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 period. 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 period. 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 period. Finally, World Asset Management Inc increased its position in Ionis Pharmaceuticals by 3.4% in the second quarter. World Asset Management Inc now owns 5,614 shares of the company’s stock valued at $286,000 after buying an additional 187 shares during the period. Institutional investors and hedge funds own 88.75% of the company’s stock.
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.
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