Ionis Pharmaceuticals (NASDAQ:IONS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday. The brokerage presently has a $51.00 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 19.16% from the company’s current price.
According to Zacks, “Ionis Pharmaceuticals, Inc. is a RNA-targeted drug discovery and development company which focuses on developing drugs for severe and rare diseases. Ionis Pharmaceuticals, Inc., formerly known as Isis Pharmaceuticals, Inc., is headquartered in Carlsbad, California. “
A number of other equities analysts have also recently issued reports on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $55.00 price objective (down from $61.00) on shares of Ionis Pharmaceuticals in a research note on Tuesday, February 20th. BidaskClub raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, April 12th. TheStreet cut shares of Ionis Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Tuesday, February 27th. BMO Capital Markets raised their price objective on shares of Ionis Pharmaceuticals from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, April 23rd. Finally, Stifel Nicolaus raised their price objective on shares of Ionis Pharmaceuticals from $55.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $52.42.
Shares of Ionis Pharmaceuticals opened at $42.80 on Wednesday, Marketbeat.com reports. The firm has a market cap of $5.09 billion, a P/E ratio of 535.00 and a beta of 2.45. The company has a quick ratio of 5.15, a current ratio of 5.38 and a debt-to-equity ratio of 1.59.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Friday, May 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.10. Ionis Pharmaceuticals had a negative net margin of 2.00% and a negative return on equity of 3.06%. The firm had revenue of $144.40 million for the quarter, compared to analysts’ expectations of $144.01 million. During the same period last year, the firm earned $0.03 earnings per share. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. research analysts expect that Ionis Pharmaceuticals will post 0.12 EPS for the current year.
In other news, Director Joseph Klein III sold 3,000 shares of Ionis Pharmaceuticals stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $48.99, for a total transaction of $146,970.00. Following the transaction, the director now directly owns 11,339 shares of the company’s stock, valued at $555,497.61. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Stanley T. Crooke sold 13,962 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, April 17th. The stock was sold at an average price of $44.40, for a total transaction of $619,912.80. Following the transaction, the chairman now directly owns 56,714 shares in the company, valued at $2,518,101.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,962 shares of company stock worth $1,172,173. Insiders own 2.44% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in IONS. BB Biotech AG boosted its position in shares of Ionis Pharmaceuticals by 4.7% during the first quarter. BB Biotech AG now owns 8,516,334 shares of the company’s stock worth $375,400,000 after purchasing an additional 380,000 shares in the last quarter. Scout Investments Inc. boosted its position in shares of Ionis Pharmaceuticals by 285.0% during the first quarter. Scout Investments Inc. now owns 329,820 shares of the company’s stock worth $14,538,000 after purchasing an additional 244,155 shares in the last quarter. Sector Gamma AS boosted its position in shares of Ionis Pharmaceuticals by 340.4% during the first quarter. Sector Gamma AS now owns 273,500 shares of the company’s stock worth $12,056,000 after purchasing an additional 211,400 shares in the last quarter. Farallon Capital Management LLC boosted its position in shares of Ionis Pharmaceuticals by 43.3% during the fourth quarter. Farallon Capital Management LLC now owns 645,000 shares of the company’s stock worth $32,444,000 after purchasing an additional 195,000 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Ionis Pharmaceuticals by 3,164.1% during the fourth quarter. Two Sigma Investments LP now owns 170,160 shares of the company’s stock worth $8,559,000 after purchasing an additional 164,947 shares in the last quarter. 91.02% of the stock is currently 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.
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