“Ionis provided an update on its pipeline of ~40 antisense drug candidates.”,” the firm’s analyst commented.
Several other brokerages have also weighed in on IONS. Piper Jaffray Companies reissued an overweight rating and issued a $46.00 price objective on shares of Ionis Pharmaceuticals in a research report on Monday, September 26th. BMO Capital Markets increased their price objective on shares of Ionis Pharmaceuticals from $61.00 to $68.00 and gave the company an outperform rating in a research report on Wednesday, December 28th. Laidlaw increased their price objective on shares of Ionis Pharmaceuticals from $59.00 to $65.00 and gave the company a buy rating in a research report on Tuesday, December 27th. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a hold rating to a buy rating and set a $51.00 price objective on the stock in a research report on Wednesday, November 16th. Finally, Janney Montgomery Scott started coverage on shares of Ionis Pharmaceuticals in a research report on Wednesday, September 28th. They issued a buy rating and a $47.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $46.48.
Ionis Pharmaceuticals (NASDAQ:IONS) traded down 3.5352% during trading on Friday, reaching $48.2999. 1,923,634 shares of the company’s stock were exchanged. Ionis Pharmaceuticals has a 52-week low of $19.59 and a 52-week high of $59.04. The firm’s market cap is $5.85 billion. The stock’s 50 day moving average price is $47.52 and its 200 day moving average price is $35.01.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The company earned $110.90 million during the quarter, compared to the consensus estimate of $114.65 million. Ionis Pharmaceuticals had a negative net margin of 77.30% and a negative return on equity of 120.60%. Ionis Pharmaceuticals’s revenue was up 125.9% compared to the same quarter last year. Equities research analysts anticipate that Ionis Pharmaceuticals will post ($1.05) EPS for the current fiscal year.
In other Ionis Pharmaceuticals news, COO B Lynne Parshall sold 4,000 shares of the firm’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $50.00, for a total value of $200,000.00. Following the transaction, the chief operating officer now directly owns 16,693 shares of the company’s stock, valued at approximately $834,650. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP C Frank Bennett sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $34.00, for a total transaction of $170,000.00. Following the completion of the transaction, the senior vice president now directly owns 15,803 shares in the company, valued at $537,302. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in IONS. BlackRock Fund Advisors increased its stake in Ionis Pharmaceuticals by 2.8% in the third quarter. BlackRock Fund Advisors now owns 2,878,111 shares of the company’s stock worth $105,454,000 after buying an additional 77,715 shares during the last quarter. IronBridge Capital Management LP increased its stake in Ionis Pharmaceuticals by 10.5% in the third quarter. IronBridge Capital Management LP now owns 93,890 shares of the company’s stock worth $3,440,000 after buying an additional 8,915 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in Ionis Pharmaceuticals by 21.9% in the second quarter. Tocqueville Asset Management L.P. now owns 1,326,120 shares of the company’s stock worth $30,885,000 after buying an additional 238,566 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Ionis Pharmaceuticals by 5.7% in the third quarter. TIAA CREF Investment Management LLC now owns 383,160 shares of the company’s stock worth $14,039,000 after buying an additional 20,521 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in Ionis Pharmaceuticals by 23.8% in the second quarter. Neuberger Berman Group LLC now owns 20,516 shares of the company’s stock worth $478,000 after buying an additional 3,948 shares during the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
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