Ionis Pharmaceuticals Inc. (IONS) Trading Up 1.7%
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) was up 1.7% during mid-day trading on Friday . The company traded as high as $31.17 and last traded at $30.88, with a volume of 1,024,689 shares changing hands. The stock had previously closed at $30.37.
A number of equities research analysts have issued reports on IONS shares. JPMorgan Chase & Co. reissued a “hold” rating on shares of Ionis Pharmaceuticals in a report on Monday, May 2nd. Cowen and Company reaffirmed a “buy” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, May 4th. Leerink Swann decreased their price target on shares of Ionis Pharmaceuticals from $40.00 to $39.00 and set a “market perform” rating on the stock in a report on Thursday, May 5th. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, May 5th. Finally, Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $41.82.
The firm’s market capitalization is $3.74 billion. The stock’s 50 day moving average is $31.42 and its 200-day moving average is $33.17.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.05. The business had revenue of $38.50 million for the quarter, compared to analysts’ expectations of $38.52 million. The company’s revenue was down 68.0% on a year-over-year basis. Equities research analysts anticipate that Ionis Pharmaceuticals Inc. will post ($1.07) EPS for the current year.
In other news, Director Frederick T. Muto sold 12,500 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $22.31, for a total transaction of $278,875.00. Following the transaction, the director now owns 15,043 shares in the company, valued at approximately $335,609.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Several hedge funds and institutional investors have modified their holdings of the company. Utah Retirement Systems acquired a new position in shares of Ionis Pharmaceuticals during the fourth quarter valued at $1,325,000. Employees Retirement System of Texas purchased a new position in Ionis Pharmaceuticals during the fourth quarter worth $1,734,000. Finally, Bank of Montreal Can purchased a new position in Ionis Pharmaceuticals during the fourth quarter worth $1,060,000.
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
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