Ionis Pharmaceuticals (NASDAQ:IONS) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday, BidAskClub reports.

Other equities analysts have also issued reports about the stock. William Blair reissued a “hold” rating on shares of Ionis Pharmaceuticals in a research report on Wednesday, June 10th. Royal Bank of Canada started coverage on shares of Ionis Pharmaceuticals in a research report on Tuesday, May 12th. They set an “outperform” rating and a $71.00 price target for the company. Oppenheimer reduced their price target on shares of Ionis Pharmaceuticals from $77.00 to $74.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Morgan Stanley raised their price target on shares of Ionis Pharmaceuticals from $51.00 to $56.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 15th. Finally, Citigroup lifted their target price on shares of Ionis Pharmaceuticals from $71.00 to $80.00 and gave the company a “buy” rating in a report on Friday, June 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $73.47.

Shares of NASDAQ:IONS traded down $1.46 during trading on Friday, reaching $57.56. The stock had a trading volume of 1,046,819 shares, compared to its average volume of 572,625. Ionis Pharmaceuticals has a one year low of $39.32 and a one year high of $73.09. The company has a market capitalization of $8.02 billion, a P/E ratio of 42.64 and a beta of 1.65. The company has a current ratio of 9.91, a quick ratio of 9.83 and a debt-to-equity ratio of 0.51. The firm’s 50-day simple moving average is $59.93 and its 200 day simple moving average is $56.25.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.23). The company had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $161.59 million. Ionis Pharmaceuticals had a net margin of 16.79% and a return on equity of 12.50%. The business’s revenue for the quarter was down 55.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 earnings per share. Equities research analysts forecast that Ionis Pharmaceuticals will post -0.48 earnings per share for the current fiscal year.

In other Ionis Pharmaceuticals news, Director Breaux Castleman sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the sale, the director now directly owns 25,183 shares in the company, valued at $1,510,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP C Frank Bennett sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $59.77, for a total transaction of $896,550.00. Following the sale, the executive vice president now owns 47,364 shares in the company, valued at $2,830,946.28. The disclosure for this sale can be found here. Insiders have sold 70,000 shares of company stock worth $4,123,750 over the last quarter. Insiders own 2.40% of the company’s stock.

A number of large investors have recently modified their holdings of IONS. Norges Bank purchased a new position in Ionis Pharmaceuticals in the fourth quarter worth $73,035,000. First Trust Advisors LP increased its position in shares of Ionis Pharmaceuticals by 38.1% in the second quarter. First Trust Advisors LP now owns 1,315,207 shares of the company’s stock valued at $77,545,000 after buying an additional 362,734 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Ionis Pharmaceuticals by 36.9% in the first quarter. Rockefeller Capital Management L.P. now owns 670,138 shares of the company’s stock valued at $31,684,000 after buying an additional 180,487 shares in the last quarter. Swiss National Bank increased its position in shares of Ionis Pharmaceuticals by 23.3% in the first quarter. Swiss National Bank now owns 518,759 shares of the company’s stock valued at $24,527,000 after buying an additional 97,900 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Ionis Pharmaceuticals by 1.1% in the first quarter. Clearbridge Investments LLC now owns 8,034,264 shares of the company’s stock valued at $379,860,000 after buying an additional 86,688 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

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.

Featured Story: Gap Up Stocks

Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

Receive News & Ratings for Ionis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.