Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report released on Wednesday, July 26th. They presently have a $64.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 32.48% from the company’s previous close.
A number of other research firms have also commented on IONS. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price objective (up from $59.56) on shares of Ionis Pharmaceuticals in a research report on Tuesday, July 25th. Stifel Nicolaus restated a “hold” rating and issued a $42.00 price objective on shares of Ionis Pharmaceuticals in a research report on Monday, July 10th. TheStreet upgraded shares of Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Wednesday, July 12th. Finally, Leerink Swann restated an “outperform” rating and issued a $45.00 price objective (down from $47.00) on shares of Ionis Pharmaceuticals in a research report on Wednesday, May 17th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $46.44.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) traded down 8.09% during mid-day trading on Wednesday, hitting $48.31. 2,750,987 shares of the stock were exchanged. The stock’s market capitalization is $5.99 billion. The stock’s 50-day moving average is $53.06 and its 200-day moving average is $46.75. Ionis Pharmaceuticals has a 52 week low of $24.58 and a 52 week high of $60.01.
Ionis Pharmaceuticals (NASDAQ:IONS) last released 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. Ionis Pharmaceuticals had a negative net margin of 4.80% and a negative return on equity of 14.61%. The firm had revenue of $104.15 million during the quarter, compared to the consensus estimate of $93.29 million. During the same quarter last year, the business posted ($0.47) earnings per share. Ionis Pharmaceuticals’s revenue was up 170.7% compared to the same quarter last year. Analysts forecast that Ionis Pharmaceuticals will post $0.05 earnings per share for the current fiscal year.
WARNING: This story was first posted by BBNS and is the sole property of of BBNS. If you are viewing this story on another site, it was illegally copied and reposted in violation of U.S. and international copyright laws. The correct version of this story can be viewed at https://baseballnewssource.com/markets/needham-company-llc-reiterates-buy-rating-for-ionis-pharmaceuticals-inc-nasdaqions-updated/1305439.html.
In other news, SVP C Frank Bennett sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $59.29, for a total value of $592,900.00. Following the completion of the sale, the senior vice president now directly owns 25,041 shares in the company, valued at approximately $1,484,680.89. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Ionis Pharmaceuticals Inc acquired 3,125,000 shares of the stock in a transaction dated Wednesday, July 19th. The stock was acquired at an average price of $8.00 per share, with a total value of $25,000,000.00. Following the completion of the acquisition, the insider now owns 28,884,540 shares in the company, valued at approximately $231,076,320. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 54,379 shares of company stock valued at $2,946,052. Company insiders own 1.86% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of IONS. Parallel Advisors LLC increased its position in shares of Ionis Pharmaceuticals by 62.8% in the second quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock valued at $109,000 after buying an additional 800 shares during the last quarter. Hanseatic Management Services Inc. purchased a new position in shares of Ionis Pharmaceuticals during the first quarter valued at approximately $138,000. Westpac Banking Corp purchased a new position in shares of Ionis Pharmaceuticals during the first quarter valued at approximately $171,000. Capstone Asset Management Co. increased its position in shares of Ionis Pharmaceuticals by 10.3% in the first quarter. Capstone Asset Management Co. now owns 5,148 shares of the company’s stock valued at $207,000 after buying an additional 480 shares during the last quarter. Finally, World Asset Management Inc increased its position in shares of Ionis Pharmaceuticals by 27.3% in the first quarter. World Asset Management Inc now owns 5,427 shares of the company’s stock valued at $218,000 after buying an additional 1,163 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Ionis Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals Inc. and related companies with our FREE daily email newsletter.