Ionis Pharmaceuticals (NASDAQ:IONS) Lifted to Hold at ValuEngine

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Ionis Pharmaceuticals (NASDAQ:IONS) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Monday, September 17th.

A number of other brokerages have also commented on IONS. Stifel Nicolaus cut their target price on Ionis Pharmaceuticals from $47.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, August 28th. Piper Jaffray Companies assumed coverage on Ionis Pharmaceuticals in a research report on Wednesday, May 30th. They issued a “hold” rating and a $50.00 price target on the stock. Zacks Investment Research cut Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Morgan Stanley lowered their price target on Ionis Pharmaceuticals from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 28th. Finally, Barclays cut Ionis Pharmaceuticals from an “equal weight” rating to an “underweight” rating and set a $52.00 price target on the stock. in a research report on Wednesday, June 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.13.

Ionis Pharmaceuticals stock traded up $1.63 during trading hours on Monday, reaching $45.00. 911,740 shares of the company were exchanged, compared to its average volume of 1,146,997. The stock has a market capitalization of $7.08 billion, a P/E ratio of 562.50 and a beta of 2.43. The company has a quick ratio of 8.34, a current ratio of 8.38 and a debt-to-equity ratio of 0.76. Ionis Pharmaceuticals has a 12 month low of $39.07 and a 12 month high of $65.51.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, August 7th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). Ionis Pharmaceuticals had a negative return on equity of 1.22% and a negative net margin of 7.20%. The business had revenue of $117.75 million for the quarter, compared to analyst estimates of $128.22 million. Sell-side analysts anticipate that Ionis Pharmaceuticals will post -0.38 earnings per share for the current year.

In other Ionis Pharmaceuticals news, SVP C Frank Bennett sold 12,500 shares of the stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $45.00, for a total value of $562,500.00. Following the transaction, the senior vice president now owns 19,409 shares of the company’s stock, valued at $873,405. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Brett P. Monia sold 16,493 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $54.00, for a total value of $890,622.00. Following the completion of the transaction, the chief operating officer now directly owns 24,834 shares in the company, valued at approximately $1,341,036. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,149 shares of company stock worth $1,460,459. 2.44% 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. Point72 Asia Hong Kong Ltd raised its position in shares of Ionis Pharmaceuticals by 255.8% during the first quarter. Point72 Asia Hong Kong Ltd now owns 2,498 shares of the company’s stock worth $110,000 after purchasing an additional 1,796 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at approximately $156,000. Clarus Wealth Advisors raised its position in Ionis Pharmaceuticals by 200.0% in the 3rd quarter. Clarus Wealth Advisors now owns 3,600 shares of the company’s stock valued at $186,000 after buying an additional 2,400 shares during the last quarter. TLP Group LLC raised its position in Ionis Pharmaceuticals by 5,220.0% in the 1st quarter. TLP Group LLC now owns 4,522 shares of the company’s stock valued at $199,000 after buying an additional 4,437 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Ionis Pharmaceuticals in the second quarter valued at approximately $212,000. 85.55% of the stock is currently owned by institutional investors.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.

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Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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