Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) had its price objective dropped by stock analysts at Barclays PLC from $55.00 to $52.00 in a research report issued on Thursday. The firm currently has an “equal weight” rating on the stock. Barclays PLC’s price objective indicates a potential upside of 1.33% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. TheStreet upgraded shares of Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a report on Wednesday, July 5th. BMO Capital Markets restated a “buy” rating and set a $59.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Wednesday, July 12th. Stifel Nicolaus restated a “hold” rating and set a $42.00 target price on shares of Ionis Pharmaceuticals in a report on Monday, July 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $64.00 target price on shares of Ionis Pharmaceuticals in a report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $49.11.

Shares of Ionis Pharmaceuticals (IONS) opened at 51.32 on Thursday. The stock has a market cap of $6.38 billion, a PE ratio of 246.73 and a beta of 3.13. Ionis Pharmaceuticals has a 52 week low of $24.58 and a 52 week high of $60.01. The company’s 50-day moving average is $51.73 and its 200 day moving average is $48.15.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The business had revenue of $104.15 million for the quarter, compared to analysts’ expectations of $93.29 million. During the same quarter last year, the business posted ($0.47) earnings per share. The business’s revenue was up 170.7% compared to the same quarter last year. Analysts forecast that Ionis Pharmaceuticals will post ($0.17) earnings per share for the current fiscal year.

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In related news, SVP C Frank Bennett sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $59.29, for a total value of $592,900.00. Following the completion of the sale, the senior vice president now directly owns 25,041 shares in the company, valued at $1,484,680.89. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Patrick R. O’neil sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $55.00, for a total transaction of $55,000.00. Following the completion of the sale, the senior vice president now owns 10,633 shares of the company’s stock, 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 valued at $2,997,692. 1.86% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in IONS. Capstone Asset Management Co. grew its holdings in Ionis Pharmaceuticals by 10.3% in the first quarter. Capstone Asset Management Co. now owns 5,148 shares of the company’s stock valued at $207,000 after purchasing an additional 480 shares during the period. Advisors Asset Management Inc. grew its holdings in Ionis Pharmaceuticals by 186.9% in the first quarter. Advisors Asset Management Inc. now owns 6,542 shares of the company’s stock valued at $263,000 after purchasing an additional 4,262 shares during the period. Swiss National Bank grew its holdings in Ionis Pharmaceuticals by 0.7% in the first quarter. Swiss National Bank now owns 200,200 shares of the company’s stock valued at $8,048,000 after purchasing an additional 1,400 shares during the period. World Asset Management Inc grew its holdings in Ionis Pharmaceuticals by 27.3% in the first quarter. World Asset Management Inc now owns 5,427 shares of the company’s stock valued at $218,000 after purchasing an additional 1,163 shares during the period. Finally, UBS Asset Management Americas Inc. grew its holdings in Ionis Pharmaceuticals by 3.5% in the first quarter. UBS Asset Management Americas Inc. now owns 318,360 shares of the company’s stock valued at $12,798,000 after purchasing an additional 10,877 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Ionis Pharmaceuticals Company Profile

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.

Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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