Ionis Pharmaceuticals Inc (NASDAQ:IONS) – Stock analysts at Svb Leerink raised their FY2020 earnings per share (EPS) estimates for Ionis Pharmaceuticals in a research note issued on Wednesday, November 6th. Svb Leerink analyst M. Foroohar now expects that the company will earn $0.62 per share for the year, up from their prior forecast of $0.52.
Several other analysts also recently commented on IONS. Sanford C. Bernstein raised Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Tuesday, September 10th. TheStreet downgraded Ionis Pharmaceuticals from a “b-” rating to a “c” rating in a research note on Thursday, August 8th. Zacks Investment Research downgraded Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. ValuEngine downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Wells Fargo & Co increased their price objective on Ionis Pharmaceuticals from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $73.45.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.49. The business had revenue of $168.00 million for the quarter, compared to analyst estimates of $152.47 million. Ionis Pharmaceuticals had a return on equity of 38.70% and a net margin of 49.90%. Ionis Pharmaceuticals’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) EPS.
In other news, Chairman Stanley T. Crooke sold 22,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $71.52, for a total value of $1,573,440.00. Following the completion of the transaction, the chairman now directly owns 79,634 shares of the company’s stock, valued at $5,695,423.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC grew its holdings in Ionis Pharmaceuticals by 38.5% during the second quarter. Advisory Services Network LLC now owns 907 shares of the company’s stock valued at $58,000 after purchasing an additional 252 shares during the period. Daiwa Securities Group Inc. grew its holdings in Ionis Pharmaceuticals by 567.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,840 shares of the company’s stock valued at $375,000 after purchasing an additional 4,965 shares during the period. Polianta Ltd bought a new position in Ionis Pharmaceuticals during the second quarter valued at $1,079,000. Pacer Advisors Inc. bought a new position in shares of Ionis Pharmaceuticals in the second quarter worth $1,307,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Ionis Pharmaceuticals by 5.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 616,513 shares of the company’s stock worth $39,624,000 after acquiring an additional 33,997 shares during the period. 88.89% of the stock is owned by institutional investors.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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