Analysts at Piper Jaffray Companies initiated coverage on shares of Ionis Pharmaceuticals (NASDAQ:IONS) in a report issued on Wednesday, Marketbeat reports. The brokerage set a “hold” rating and a $50.00 price target on the stock. Piper Jaffray Companies’ price objective suggests a potential upside of 7.18% from the stock’s current price.

A number of other brokerages have also commented on IONS. ValuEngine raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, March 8th. TheStreet lowered shares of Ionis Pharmaceuticals from a “c” rating to a “d+” rating in a report on Tuesday, February 27th. Zacks Investment Research lowered shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. BidaskClub raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, March 9th. Finally, BMO Capital Markets increased their price target on shares of Ionis Pharmaceuticals from $64.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $52.83.

Shares of Ionis Pharmaceuticals opened at $46.65 on Wednesday, Marketbeat reports. The firm has a market capitalization of $5.78 billion, a PE ratio of 583.13 and a beta of 2.45. Ionis Pharmaceuticals has a one year low of $39.07 and a one year high of $65.51. The company has a debt-to-equity ratio of 1.59, a quick ratio of 5.33 and a current ratio of 5.38.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Friday, May 4th. The company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.10. The firm had revenue of $144.40 million for the quarter, compared to analyst estimates of $144.01 million. Ionis Pharmaceuticals had a negative net margin of 2.00% and a negative return on equity of 3.06%. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 EPS. research analysts expect that Ionis Pharmaceuticals will post -0.03 EPS for the current fiscal year.

In other news, SVP Patrick R. O’neil sold 1,000 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $55.00, for a total value of $55,000.00. Following the completion of the sale, the senior vice president now owns 15,452 shares of the company’s stock, valued at approximately $849,860. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Stanley T. Crooke sold 13,962 shares of the company’s stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $44.40, for a total transaction of $619,912.80. Following the completion of the sale, the chairman now directly owns 56,714 shares of the company’s stock, valued at approximately $2,518,101.60. The disclosure for this sale can be found here. Insiders sold a total of 61,462 shares of company stock valued at $2,808,373 in the last ninety days. 2.13% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Hanseatic Management Services Inc. boosted its stake in shares of Ionis Pharmaceuticals by 41.1% in the 4th quarter. Hanseatic Management Services Inc. now owns 4,154 shares of the company’s stock valued at $209,000 after purchasing an additional 1,210 shares in the last quarter. Amalgamated Bank boosted its position in Ionis Pharmaceuticals by 5.8% during the 4th quarter. Amalgamated Bank now owns 24,702 shares of the company’s stock valued at $1,243,000 after buying an additional 1,350 shares during the period. Principal Financial Group Inc. boosted its position in Ionis Pharmaceuticals by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 38,277 shares of the company’s stock valued at $1,687,000 after buying an additional 1,479 shares during the period. Point72 Asia Hong Kong Ltd boosted its position in Ionis Pharmaceuticals by 255.8% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,498 shares of the company’s stock valued at $110,000 after buying an additional 1,796 shares during the period. Finally, Guggenheim Capital LLC boosted its position in Ionis Pharmaceuticals by 2.1% during the 1st quarter. Guggenheim Capital LLC now owns 91,282 shares of the company’s stock valued at $4,024,000 after buying an additional 1,893 shares during the period. 91.06% of the stock is owned by institutional investors.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.

Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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