Ionis Pharmaceuticals Inc. (NASDAQ:IONS) shares dropped 1.4% on Friday . The company traded as low as $29.41 and last traded at $29.61, with a volume of 1,174,691 shares traded. The stock had previously closed at $30.04.

Several research firms recently weighed in on IONS. Cowen and Company restated a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, August 3rd. Barclays PLC cut their price target on Ionis Pharmaceuticals from $42.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, May 27th. Jefferies Group restated an “underperform” rating and issued a $12.00 price target on shares of Ionis Pharmaceuticals in a research note on Friday, July 15th. Leerink Swann restated a “market perform” rating and issued a $36.00 price target (up previously from $26.00) on shares of Ionis Pharmaceuticals in a research note on Tuesday, August 2nd. Finally, Needham & Company LLC upped their price target on Ionis Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Two research 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. The company presently has a consensus rating of “Hold” and a consensus target price of $41.82.

The stock’s market capitalization is $3.56 billion. The firm’s 50-day moving average price is $32.08 and its 200 day moving average price is $33.03.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.05. The company had revenue of $38.50 million for the quarter, compared to analysts’ expectations of $38.52 million. Ionis Pharmaceuticals’s revenue was down 68.0% compared to the same quarter last year. Equities research analysts forecast that Ionis Pharmaceuticals Inc. will post ($1.07) EPS for the current year.

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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