Investors Buy Shares of Ionis Pharmaceuticals Inc. (IONS) on Weakness
Traders bought shares of Ionis Pharmaceuticals Inc. (NASDAQ:IONS) on weakness during trading on Thursday. $82.08 million flowed into the stock on the tick-up and $13.10 million flowed out of the stock on the tick-down, for a money net flow of $68.98 million into the stock. Of all stocks tracked, Ionis Pharmaceuticals had the 14th highest net in-flow for the day. Ionis Pharmaceuticals traded down ($0.04) for the day and closed at $29.65
A number of brokerages recently weighed in on IONS. Barclays PLC dropped their price objective on Ionis Pharmaceuticals from $42.00 to $26.00 and set an “equal weight” rating on the stock in a report on Friday, May 27th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Ionis Pharmaceuticals in a report on Sunday, May 29th. Jefferies Group reaffirmed a “sell” rating on shares of Ionis Pharmaceuticals in a report on Sunday, May 29th. Cowen and Company reaffirmed a “buy” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, August 3rd. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, May 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.82.
The company’s market cap is $3.63 billion. The stock’s 50 day moving average is $31.94 and its 200 day moving average is $33.06.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.05. The company earned $38.50 million during the quarter, compared to the consensus estimate of $38.52 million. Ionis Pharmaceuticals’s revenue for the quarter was down 68.0% on a year-over-year basis. Analysts anticipate that Ionis Pharmaceuticals Inc. will post ($1.07) EPS for the current fiscal year.
An institutional investor recently bought a new position in Ionis Pharmaceuticals stock. Utah Retirement Systems bought a new position in Ionis Pharmaceuticals Inc. (NASDAQ:IONS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 21,400 shares of the company’s stock, valued at approximately $1,325,000.
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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