Ionis Pharmaceuticals, Inc. (IONS) Given Buy Rating at Needham & Company LLC
Several other equities analysts also recently weighed in on IONS. Evercore ISI began coverage on Ionis Pharmaceuticals in a research report on Wednesday, August 16th. They set an outperform rating and a $65.00 target price on the stock. Stifel Nicolaus reiterated a hold rating on shares of Ionis Pharmaceuticals in a research report on Tuesday, September 12th. Cowen and Company reiterated a market perform rating on shares of Ionis Pharmaceuticals in a research report on Monday, May 22nd. Jefferies Group LLC reiterated an underperform rating and set a $18.00 target price (up from $17.00) on shares of Ionis Pharmaceuticals in a research report on Thursday, August 10th. Finally, Zacks Investment Research downgraded Ionis Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, August 8th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Ionis Pharmaceuticals currently has an average rating of Hold and a consensus price target of $49.31.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) opened at 59.23 on Friday. Ionis Pharmaceuticals has a one year low of $24.58 and a one year high of $60.01. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of 284.76 and a beta of 3.13. The company has a 50-day moving average of $51.34 and a 200 day moving average of $48.10.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $104.15 million for the quarter, compared to analyst estimates of $93.29 million. Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The firm’s revenue was up 170.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.47) EPS. Equities research analysts forecast that Ionis Pharmaceuticals will post ($0.17) earnings per share for the current fiscal year.
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In other news, SVP C Frank Bennett sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $59.29, for a total value of $592,900.00. Following the transaction, the senior vice president now directly owns 25,041 shares in the company, valued at approximately $1,484,680.89. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Patrick R. O’neil sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $55.00, for a total value of $55,000.00. Following the completion of the transaction, the senior vice president now owns 10,633 shares in the company, valued at $584,815. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,309 shares of company stock worth $2,997,692. Company insiders own 1.86% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in IONS. BlackRock Inc. raised its holdings in shares of Ionis Pharmaceuticals by 37,569.7% in the 1st quarter. BlackRock Inc. now owns 6,559,808 shares of the company’s stock worth $263,704,000 after purchasing an additional 6,542,394 shares during the period. Wellington Management Group LLP grew its stake in shares of Ionis Pharmaceuticals by 56.1% in the first quarter. Wellington Management Group LLP now owns 9,360,553 shares of the company’s stock valued at $376,295,000 after buying an additional 3,364,621 shares in the last quarter. State Street Corp grew its stake in shares of Ionis Pharmaceuticals by 20.5% in the first quarter. State Street Corp now owns 3,340,471 shares of the company’s stock valued at $134,285,000 after buying an additional 567,792 shares in the last quarter. BB Biotech AG grew its stake in shares of Ionis Pharmaceuticals by 7.9% in the first quarter. BB Biotech AG now owns 7,461,295 shares of the company’s stock valued at $299,944,000 after buying an additional 548,123 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Ionis Pharmaceuticals by 4.4% in the second quarter. Vanguard Group Inc. now owns 9,855,160 shares of the company’s stock valued at $501,332,000 after buying an additional 417,364 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.
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