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 equities 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 have commented on IONS. Barclays PLC lowered their price target on Ionis Pharmaceuticals from $42.00 to $26.00 and set an “equal weight” rating for the company in a research report on Friday, May 27th. JPMorgan Chase & Co. decreased their price objective on Ionis Pharmaceuticals from $53.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, May 27th. Jefferies Group reissued a “sell” rating on shares of Ionis Pharmaceuticals in a report on Sunday, May 29th. Cowen and Company reissued a “buy” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, August 3rd. Finally, Leerink Swann reissued a “market perform” rating and issued a $36.00 price objective (up previously from $26.00) on shares of Ionis Pharmaceuticals in a report on Tuesday, August 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Ionis Pharmaceuticals presently has an average rating of “Hold” and an average price target of $41.82.
The firm has a 50-day moving average price of $32.08 and a 200-day moving average price of $33.03. The firm’s market capitalization is $3.56 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data 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 firm had revenue of $38.50 million for the quarter, compared to analysts’ expectations of $38.52 million. The firm’s revenue for the quarter was down 68.0% compared to the same quarter last year. Equities analysts forecast that Ionis Pharmaceuticals Inc. will post ($1.07) earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in Ionis Pharmaceuticals stock. Employees Retirement System of Texas acquired a new stake in Ionis Pharmaceuticals Inc. (NASDAQ:IONS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 28,000 shares of the company’s stock, valued at approximately $1,734,000.
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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