Ionis Pharmaceuticals Inc. (IONS) Trading 8.8% Higher
Ionis Pharmaceuticals Inc. (NASDAQ:IONS)’s share price traded up 8.8% during mid-day trading on Friday . The stock traded as high as $27.14 and last traded at $26.68, with a volume of 2,679,046 shares changing hands. The stock had previously closed at $24.52.
Several equities analysts have recently issued reports on the company. Leerink Swann reaffirmed a “hold” rating on shares of Ionis Pharmaceuticals in a research note on Saturday, April 9th. Jefferies Group reaffirmed a “sell” rating on shares of Ionis Pharmaceuticals in a research note on Sunday, May 29th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Ionis Pharmaceuticals in a research note on Sunday, May 29th. BMO Capital Markets lowered Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and cut their price target for the company from $55.00 to $26.00 in a research note on Friday, May 27th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, May 4th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Ionis Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $41.11.
The stock’s market capitalization is $3.26 billion. The stock has a 50-day moving average price of $23.14 and a 200-day moving average price of $36.31.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.50) by $0.02. The company earned $36.90 million during the quarter, compared to analyst estimates of $36.21 million. The firm’s revenue was down 41.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.14) EPS. Analysts anticipate that Ionis Pharmaceuticals Inc. will post ($1.49) EPS for the current year.
In related news, Director Frederick T. Muto sold 12,500 shares of the business’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $22.31, for a total transaction of $278,875.00. Following the sale, 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.
A number of large investors have recently modified their holdings of the company. Starfire Investment Advisers Inc. purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth $1,025,000. Neuberger Berman Group LLC bought a new stake in Ionis Pharmaceuticals during the fourth quarter worth approximately $1,039,000. Bank of Montreal Can bought a new stake in Ionis Pharmaceuticals during the fourth quarter worth approximately $1,060,000. TD Asset Management Inc. bought a new stake in Ionis Pharmaceuticals during the fourth quarter worth approximately $1,146,000. Finally, Oxford Asset Management bought a new stake in Ionis Pharmaceuticals during the fourth quarter worth approximately $1,240,000.
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is a ribonucleic acid-targeted (RNA-targeted) drug discovery and development company. The Company is focused on discovering and developing antisense drugs. Its antisense drugs are used to treat a range of diseases, including cardiovascular; metabolic; severe and rare diseases, including neurological disorders, and cancer.
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