Ionis Pharmaceuticals Inc. (IONS) Shares Down 1.4%
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) fell 1.4% during trading on Friday . The company traded as low as $29.41 and last traded at $29.61, with a volume of 1,174,691 shares changing hands. The stock had previously closed at $30.04.
A number of research analysts have recently weighed in on IONS shares. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of Ionis Pharmaceuticals in a report on Tuesday, June 7th. Piper Jaffray Cos. restated a “buy” rating and issued a $35.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, June 10th. Cowen and Company restated a “market perform” rating on shares of Ionis Pharmaceuticals in a report on Saturday, August 13th. BMO Capital Markets restated a “market perform” rating and issued a $26.00 target price on shares of Ionis Pharmaceuticals in a report on Tuesday, June 7th. Finally, Morgan Stanley started coverage on Ionis Pharmaceuticals in a report on Tuesday, August 2nd. They issued an “equal weight” rating and a $37.00 target price on the stock. 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 given a strong buy rating to the company. Ionis Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $41.82.
The stock has a 50 day moving average of $32.08 and a 200 day moving average of $33.03. The stock’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 for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.05. The firm earned $38.50 million during the quarter, compared to analyst estimates of $38.52 million. The company’s quarterly revenue was down 68.0% compared to the same quarter last year. On average, analysts forecast that Ionis Pharmaceuticals Inc. will post ($1.07) EPS for the current year.
A hedge fund recently bought a new stake in Ionis Pharmaceuticals stock. Employees Retirement System of Texas acquired a new position in Ionis Pharmaceuticals Inc. (NASDAQ:IONS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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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