Ionis Pharmaceuticals (IONS) Lowered to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a hold rating to a sell rating in a research note published on Wednesday morning.
According to Zacks, “Ionis Pharmaceuticals, Inc. is a RNA-targeted drug discovery and development company which focuses on developing drugs for severe and rare diseases. Ionis Pharmaceuticals, Inc., formerly known as Isis Pharmaceuticals, Inc., is headquartered in Carlsbad, California. “
Several other analysts have also commented on IONS. Morgan Stanley increased their price objective on Ionis Pharmaceuticals from $45.00 to $49.00 and gave the company an equal weight rating in a report on Wednesday, November 8th. BMO Capital Markets increased their price objective on Ionis Pharmaceuticals from $64.00 to $65.00 and gave the company an outperform rating in a report on Wednesday, November 8th. BidaskClub upgraded Ionis Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, December 7th. Sanford C. Bernstein reiterated a market perform rating and set a $55.00 price objective (down previously from $61.00) on shares of Ionis Pharmaceuticals in a report on Tuesday, February 20th. Finally, Stifel Nicolaus raised their target price on Ionis Pharmaceuticals from $55.00 to $57.00 and gave the stock a hold rating in a research note on Wednesday. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Ionis Pharmaceuticals currently has an average rating of Hold and a consensus target price of $51.12.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.10. Ionis Pharmaceuticals had a negative return on equity of 2.20% and a negative net margin of 1.18%. The firm had revenue of $172.00 million during the quarter, compared to analyst estimates of $126.38 million. During the same quarter in the prior year, the business posted $0.33 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. sell-side analysts expect that Ionis Pharmaceuticals will post -0.41 earnings per share for the current year.
In related news, Director Joseph Klein III sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $48.99, for a total value of $146,970.00. Following the completion of the transaction, the director now owns 11,339 shares in the company, valued at approximately $555,497.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP C Frank Bennett sold 12,500 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $52.50, for a total value of $656,250.00. The disclosure for this sale can be found here. Insiders sold a total of 117,635 shares of company stock valued at $6,104,141 in the last 90 days. 2.13% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new stake in Ionis Pharmaceuticals during the 3rd quarter worth about $100,000. American International Group Inc. acquired a new stake in Ionis Pharmaceuticals during the 4th quarter worth about $147,000. Parallel Advisors LLC grew its position in Ionis Pharmaceuticals by 60.3% during the 3rd quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $182,000 after purchasing an additional 1,250 shares during the period. Icon Wealth Partners LLC acquired a new stake in Ionis Pharmaceuticals during the 4th quarter worth about $182,000. Finally, The Manufacturers Life Insurance Company grew its position in Ionis Pharmaceuticals by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock worth $190,000 after purchasing an additional 311 shares during the period. 91.01% of the stock is currently 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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