Ionis Pharmaceuticals, Inc. (IONS) Price Target Raised to $50.00
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) had its price objective raised by Stifel Nicolaus from $42.00 to $50.00 in a research note published on Wednesday, MarketBeat.com reports. Stifel Nicolaus currently has a hold rating on the stock.
Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday. Sanford C. Bernstein assumed coverage on shares of Ionis Pharmaceuticals in a research report on Thursday, July 27th. They issued a market perform rating and a $57.00 price target for the company. Needham & Company LLC reaffirmed a buy rating and issued a $64.00 price target on shares of Ionis Pharmaceuticals in a research report on Wednesday, July 26th. BMO Capital Markets reaffirmed an outperform rating and issued a $62.00 price target (up previously from $59.56) on shares of Ionis Pharmaceuticals in a research report on Tuesday, July 25th. Finally, TheStreet raised shares of Ionis Pharmaceuticals from a d+ rating to a c- rating in a research report on Wednesday, July 5th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Ionis Pharmaceuticals has a consensus rating of Hold and a consensus price target of $47.13.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) traded up 2.63% during mid-day trading on Wednesday, reaching $46.76. 2,627,979 shares of the company’s stock traded hands. Ionis Pharmaceuticals has a 12-month low of $24.58 and a 12-month high of $60.01. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 224.81 and a beta of 3.14. The stock has a 50-day moving average price of $52.52 and a 200 day moving average price of $46.92.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by $0.03. Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The business had revenue of $104.15 million during the quarter, compared to analysts’ expectations of $93.29 million. During the same period in the previous year, the company posted ($0.47) EPS. Ionis Pharmaceuticals’s revenue for the quarter was up 170.7% on a year-over-year basis. Analysts anticipate that Ionis Pharmaceuticals will post ($0.02) EPS for the current fiscal year.
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In other Ionis Pharmaceuticals news, SVP C Frank Bennett sold 10,000 shares of the company’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 transaction of $592,900.00. Following the transaction, the senior vice president now owns 25,041 shares in the company, valued at approximately $1,484,680.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Stanley T. Crooke sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $55.35, for a total transaction of $608,850.00. Following the transaction, the chairman now owns 48,014 shares in the company, valued at approximately $2,657,574.90. The disclosure for this sale can be found here. Insiders have sold 54,379 shares of company stock valued at $2,946,052 in the last three months. 1.86% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of IONS. Dimensional Fund Advisors LP raised its position in shares of Ionis Pharmaceuticals by 361.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 97,341 shares of the company’s stock worth $4,656,000 after buying an additional 76,259 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Ionis Pharmaceuticals by 14.7% in the fourth quarter. Teachers Advisors LLC now owns 123,810 shares of the company’s stock worth $5,922,000 after buying an additional 15,904 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of Ionis Pharmaceuticals by 2.9% in the first quarter. Raymond James Trust N.A. now owns 5,705 shares of the company’s stock worth $229,000 after buying an additional 159 shares during the last quarter. Creative Planning raised its position in shares of Ionis Pharmaceuticals by 5.7% in the first quarter. Creative Planning now owns 26,856 shares of the company’s stock worth $1,080,000 after buying an additional 1,442 shares during the last quarter. Finally, Capstone Asset Management Co. raised 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 worth $207,000 after buying an additional 480 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.
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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