Goldman Sachs Group, Inc. (The) reissued their sell rating on shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in a research note released on Friday morning, Marketbeat Ratings reports. They currently have a $30.00 target price on the stock.
A number of other analysts have also recently commented on the company. BMO Capital Markets reiterated an outperform rating and set a $69.00 price objective on shares of Ionis Pharmaceuticals in a research report on Monday, October 2nd. Barclays PLC lowered their price target on Ionis Pharmaceuticals from $55.00 to $52.00 and set an equal weight rating for the company in a report on Thursday, September 21st. Needham & Company LLC restated a buy rating and issued a $64.00 price target on shares of Ionis Pharmaceuticals in a report on Sunday, September 17th. Stifel Nicolaus restated a hold rating on shares of Ionis Pharmaceuticals in a report on Tuesday, September 12th. Finally, Evercore ISI assumed coverage on Ionis Pharmaceuticals in a report on Wednesday, August 16th. They issued an outperform rating and a $65.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $49.44.
Ionis Pharmaceuticals (IONS) opened at 55.55 on Friday. The firm has a market cap of $6.91 billion, a PE ratio of 267.07 and a beta of 3.12. The stock’s 50 day moving average is $53.28 and its 200 day moving average is $48.97. Ionis Pharmaceuticals has a 12 month low of $24.58 and a 12 month high of $60.01.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $104.15 million for the quarter, compared to analysts’ expectations of $93.29 million. Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The company’s revenue for the quarter was up 170.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.47) EPS. On average, equities analysts forecast that Ionis Pharmaceuticals will post ($0.17) earnings per share for the current year.
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In other news, Chairman Stanley T. Crooke sold 16,500 shares of Ionis Pharmaceuticals stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $52.45, for a total value of $865,425.00. Following the transaction, the chairman now directly owns 53,014 shares of the company’s stock, valued at approximately $2,780,584.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ionis Pharmaceuticals Inc acquired 3,125,000 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, July 19th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $25,000,000.00. Following the completion of the purchase, the insider now directly owns 28,884,540 shares in the company, valued at $231,076,320. The disclosure for this purchase can be found here. Insiders sold a total of 82,000 shares of company stock valued at $4,411,650 in the last 90 days. 1.86% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hanseatic Management Services Inc. lifted its stake in shares of Ionis Pharmaceuticals by 1.2% in the 2nd quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock valued at $177,000 after purchasing an additional 41 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Ionis Pharmaceuticals by 0.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 9,673 shares of the company’s stock valued at $492,000 after purchasing an additional 43 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its stake in shares of Ionis Pharmaceuticals by 0.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 24,390 shares of the company’s stock valued at $1,241,000 after purchasing an additional 65 shares in the last quarter. Utah Retirement Systems lifted its stake in shares of Ionis Pharmaceuticals by 0.5% in the 1st quarter. Utah Retirement Systems now owns 22,000 shares of the company’s stock valued at $884,000 after purchasing an additional 100 shares in the last quarter. Finally, World Asset Management Inc lifted its stake in shares of Ionis Pharmaceuticals by 3.4% in the 2nd quarter. World Asset Management Inc now owns 5,614 shares of the company’s stock valued at $286,000 after purchasing an additional 187 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.
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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