Ionis Pharmaceuticals (IONS) Given a $50.00 Price Target at Piper Jaffray Companies

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Piper Jaffray Companies set a $50.00 price target on Ionis Pharmaceuticals (NASDAQ:IONS) in a research note released on Tuesday morning. The firm currently has a hold rating on the stock. Piper Jaffray Companies also issued estimates for Ionis Pharmaceuticals’ Q4 2018 earnings at $0.23 EPS, Q1 2019 earnings at ($0.05) EPS, Q2 2019 earnings at $0.05 EPS, Q2 2019 earnings at $0.00 EPS, Q3 2019 earnings at $0.10 EPS, Q3 2019 earnings at $0.15 EPS, Q4 2019 earnings at $0.40 EPS, Q4 2019 earnings at $0.35 EPS, FY2019 earnings at $0.35 EPS, FY2019 earnings at $0.55 EPS, FY2020 earnings at $1.45 EPS, FY2020 earnings at $1.50 EPS, FY2021 earnings at $3.00 EPS, FY2022 earnings at $4.55 EPS and FY2022 earnings at $4.90 EPS.

A number of other research firms have also weighed in on IONS. Stifel Nicolaus cut their target price on shares of Ionis Pharmaceuticals from $47.00 to $45.00 and set a hold rating on the stock in a research note on Tuesday, August 28th. ValuEngine upgraded shares of Ionis Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, November 1st. Morgan Stanley set a $45.00 target price on shares of Ionis Pharmaceuticals and gave the stock a hold rating in a research note on Wednesday, October 3rd. Finally, Zacks Investment Research lowered shares of Ionis Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $54.00.

NASDAQ:IONS traded down $1.29 on Tuesday, reaching $51.50. 1,136,791 shares of the company’s stock were exchanged, compared to its average volume of 1,085,358. The company has a current ratio of 7.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.74. Ionis Pharmaceuticals has a 52-week low of $39.07 and a 52-week high of $57.92.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.10. The company had revenue of $145.40 million for the quarter, compared to analyst estimates of $146.77 million. Ionis Pharmaceuticals had a negative net margin of 7.52% and a negative return on equity of 1.58%. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share. As a group, research analysts anticipate that Ionis Pharmaceuticals will post -0.15 EPS for the current fiscal year.

In related news, SVP C Frank Bennett sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $49.54, for a total value of $619,250.00. Following the completion of the transaction, the senior vice president now directly owns 31,896 shares of the company’s stock, valued at $1,580,127.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brett P. Monia sold 16,493 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,341,036. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in IONS. Dimensional Fund Advisors LP boosted its holdings in shares of Ionis Pharmaceuticals by 5.7% in the first quarter. Dimensional Fund Advisors LP now owns 237,581 shares of the company’s stock valued at $10,473,000 after acquiring an additional 12,770 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Ionis Pharmaceuticals by 4.0% in the first quarter. Principal Financial Group Inc. now owns 38,277 shares of the company’s stock valued at $1,687,000 after acquiring an additional 1,479 shares during the period. Legal & General Group Plc boosted its holdings in shares of Ionis Pharmaceuticals by 2.9% in the first quarter. Legal & General Group Plc now owns 68,452 shares of the company’s stock valued at $3,017,000 after acquiring an additional 1,925 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Ionis Pharmaceuticals by 32.3% in the second quarter. State of Alaska Department of Revenue now owns 15,030 shares of the company’s stock valued at $626,000 after acquiring an additional 3,670 shares during the period. Finally, Xact Kapitalforvaltning AB boosted its holdings in shares of Ionis Pharmaceuticals by 11.8% in the second quarter. Xact Kapitalforvaltning AB now owns 18,911 shares of the company’s stock valued at $788,000 after acquiring an additional 2,000 shares during the period. 86.35% of the stock is owned by hedge funds and other 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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