Ionis Pharmaceuticals’ (IONS) Hold Rating Reiterated at Stifel Nicolaus
Stifel Nicolaus reaffirmed their hold rating on shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in a research note published on Friday morning. Stifel Nicolaus currently has a $50.00 target price on the stock.
Other research analysts have also recently issued research reports about the company. Evercore ISI assumed 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. Needham & Company LLC reaffirmed a buy rating and set a $64.00 target price on shares of Ionis Pharmaceuticals in a research report on Wednesday, July 26th. Jefferies Group LLC reaffirmed an underperform rating and set a $18.00 target price (up previously from $17.00) on shares of Ionis Pharmaceuticals in a research report on Thursday, August 10th. Barclays PLC cut their target price on Ionis Pharmaceuticals from $55.00 to $52.00 and set an equal weight rating on the stock in a research report on Thursday, September 21st. Finally, Zacks Investment Research cut Ionis Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Ionis Pharmaceuticals presently has an average rating of Hold and an average target price of $50.04.
Ionis Pharmaceuticals (IONS) opened at 61.15 on Friday. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 293.99 and a beta of 3.12. Ionis Pharmaceuticals has a 52-week low of $24.58 and a 52-week high of $63.20. The stock’s 50 day moving average price is $54.75 and its 200 day moving average price is $49.79.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The company had revenue of $104.15 million for the quarter, compared to the consensus estimate of $93.29 million. During the same quarter last year, the business earned ($0.47) earnings per share. Ionis Pharmaceuticals’s revenue was up 170.7% compared to the same quarter last year. On average, equities analysts anticipate that Ionis Pharmaceuticals will post ($0.16) 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 business’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 completion of the sale, the senior vice president now owns 25,041 shares of the company’s stock, valued at approximately $1,484,680.89. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Ionis Pharmaceuticals Inc bought 3,125,000 shares of the stock in a transaction dated Wednesday, July 19th. The stock was bought at an average cost of $8.00 per share, with a total value of $25,000,000.00. Following the purchase, the insider now owns 28,884,540 shares in the company, valued at approximately $231,076,320. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 65,500 shares of company stock valued at $3,546,225. 2.13% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake 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 buying an additional 6,542,394 shares during the last quarter. State Street Corp grew its stake in shares of Ionis Pharmaceuticals by 20.5% in the 1st quarter. State Street Corp now owns 3,340,471 shares of the company’s stock worth $134,285,000 after buying an additional 567,792 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ionis Pharmaceuticals by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 9,855,160 shares of the company’s stock worth $501,332,000 after buying an additional 417,364 shares during the last quarter. Smith Asset Management Group LP purchased a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $11,394,000. Finally, Gotham Asset Management LLC grew its stake in shares of Ionis Pharmaceuticals by 227.6% in the 1st quarter. Gotham Asset Management LLC now owns 313,432 shares of the company’s stock worth $12,600,000 after buying an additional 217,756 shares during the last quarter. 89.24% of the stock is owned by institutional investors.
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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