Barclays PLC Initiates Coverage on Ionis Pharmaceuticals, Inc. (IONS)
Analysts at Barclays PLC assumed coverage on shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in a report issued on Wednesday. The firm set an “equal weight” rating on the stock.
Other analysts have also issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $64.00 price objective on shares of Ionis Pharmaceuticals in a report on Wednesday, July 26th. BMO Capital Markets reissued a “buy” rating and issued a $59.00 price objective on shares of Ionis Pharmaceuticals in a report on Friday, June 2nd. Zacks Investment Research raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Wednesday, July 12th. Piper Jaffray Companies set a $51.00 price objective on Ionis Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, May 10th. Finally, Laidlaw reissued a “buy” rating and issued a $65.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday, August 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $48.91.
Ionis Pharmaceuticals (IONS) traded up 0.58% on Wednesday, hitting $55.17. The stock had a trading volume of 870,449 shares. The company’s 50 day moving average is $50.88 and its 200-day moving average is $47.47. Ionis Pharmaceuticals has a 12 month low of $24.58 and a 12 month high of $60.01. The stock has a market cap of $6.86 billion, a P/E ratio of 265.24 and a beta of 3.13.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by $0.03. Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The business had revenue of $104.15 million during the quarter, compared to analyst estimates of $93.29 million. During the same period in the previous year, the business posted ($0.47) earnings per share. The firm’s revenue for the quarter was up 170.7% on a year-over-year basis. Analysts forecast that Ionis Pharmaceuticals will post ($0.19) EPS for the current year.
In other news, SVP C Frank Bennett sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $59.29, for a total value of $592,900.00. Following the transaction, the senior vice president now owns 25,041 shares in the company, valued at $1,484,680.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Stanley T. Crooke sold 11,000 shares of the firm’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 value of $608,850.00. Following the completion of 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. In the last 90 days, insiders sold 54,309 shares of company stock worth $2,942,692. Company insiders own 1.86% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IONS. BlackRock Inc. lifted its position in shares of Ionis Pharmaceuticals by 37,569.7% in the first quarter. BlackRock Inc. now owns 6,559,808 shares of the company’s stock valued at $263,704,000 after acquiring an additional 6,542,394 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Ionis Pharmaceuticals by 56.1% in the first quarter. Wellington Management Group LLP now owns 9,360,553 shares of the company’s stock valued at $376,295,000 after acquiring an additional 3,364,621 shares in the last quarter. State Street Corp lifted its position in shares of Ionis Pharmaceuticals by 20.5% in the first quarter. State Street Corp now owns 3,340,471 shares of the company’s stock valued at $134,285,000 after acquiring an additional 567,792 shares in the last quarter. BB Biotech AG lifted its position in shares of Ionis Pharmaceuticals by 7.9% in the first quarter. BB Biotech AG now owns 7,461,295 shares of the company’s stock valued at $299,944,000 after acquiring an additional 548,123 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Ionis Pharmaceuticals by 4.4% in the second quarter. Vanguard Group Inc. now owns 9,855,160 shares of the company’s stock valued at $501,332,000 after acquiring an additional 417,364 shares in the last quarter. Institutional investors and hedge funds own 89.32% 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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