Sanford C. Bernstein upgraded shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a market perform rating to an outperform rating in a report issued on Tuesday, BenzingaRatingsTable reports. Sanford C. Bernstein currently has $80.00 price target on the stock.

A number of other research firms have also issued reports on IONS. Evercore ISI set a $76.00 price target on shares of Ionis Pharmaceuticals and gave the stock a hold rating in a research report on Wednesday, August 7th. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, July 31st. Piper Jaffray Companies set a $75.00 price objective on shares of Ionis Pharmaceuticals and gave the stock a hold rating in a research note on Friday, May 24th. ValuEngine cut shares of Ionis Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, September 4th. Finally, TheStreet cut shares of Ionis Pharmaceuticals from a b- rating to a c rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Ionis Pharmaceuticals currently has a consensus rating of Hold and a consensus target price of $69.00.

IONS traded down $0.67 during trading on Tuesday, reaching $66.21. 24,979 shares of the company’s stock were exchanged, compared to its average volume of 912,331. Ionis Pharmaceuticals has a 1 year low of $43.27 and a 1 year high of $86.58. The company has a debt-to-equity ratio of 0.45, a current ratio of 10.01 and a quick ratio of 9.93. The stock has a market capitalization of $9.41 billion, a P/E ratio of 22.39 and a beta of 1.97. The company’s fifty day simple moving average is $65.56 and its 200-day simple moving average is $69.43.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.26. Ionis Pharmaceuticals had a net margin of 49.90% and a return on equity of 38.70%. The company had revenue of $164.00 million during the quarter, compared to analyst estimates of $145.31 million. During the same period last year, the firm posted ($0.29) EPS. Ionis Pharmaceuticals’s revenue for the quarter was up 39.0% compared to the same quarter last year. Equities analysts forecast that Ionis Pharmaceuticals will post -0.07 EPS for the current year.

In related news, Chairman Stanley T. Crooke sold 22,000 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $71.52, for a total value of $1,573,440.00. Following the sale, the chairman now owns 79,634 shares of the company’s stock, valued at approximately $5,695,423.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stanley T. Crooke sold 10,000 shares of Ionis Pharmaceuticals stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $70.25, for a total transaction of $702,500.00. Following the completion of the sale, the chief executive officer now directly owns 79,634 shares in the company, valued at approximately $5,594,288.50. The disclosure for this sale can be found here. Insiders have sold a total of 47,210 shares of company stock worth $3,244,934 in the last ninety days. Corporate insiders own 2.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in IONS. Whittier Trust Co. grew its stake in Ionis Pharmaceuticals by 283.0% in the 2nd quarter. Whittier Trust Co. now owns 383 shares of the company’s stock valued at $25,000 after acquiring an additional 283 shares during the period. CWM LLC boosted its stake in Ionis Pharmaceuticals by 361.4% during the 2nd quarter. CWM LLC now owns 406 shares of the company’s stock worth $26,000 after purchasing an additional 318 shares during the last quarter. Ellis Investment Partners LLC acquired a new stake in Ionis Pharmaceuticals during the 2nd quarter worth $32,000. Rehmann Capital Advisory Group boosted its stake in Ionis Pharmaceuticals by 41.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 592 shares of the company’s stock worth $38,000 after purchasing an additional 173 shares during the last quarter. Finally, Advisory Services Network LLC boosted its stake in Ionis Pharmaceuticals by 38.5% during the 2nd quarter. Advisory Services Network LLC now owns 907 shares of the company’s stock worth $58,000 after purchasing an additional 252 shares during the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

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Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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