Ionis Pharmaceuticals, Inc. (IONS) Earns “Underperform” Rating from Jefferies Group LLC

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)‘s stock had its “underperform” rating reaffirmed by Jefferies Group LLC in a research note issued on Thursday. They currently have a $18.00 price objective on the stock, up from their prior price objective of $17.00. Jefferies Group LLC’s price target would suggest a potential downside of 62.55% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Stifel Nicolaus raised their price objective on Ionis Pharmaceuticals from $42.00 to $50.00 and gave the company a “hold” rating in a research report on Wednesday. Zacks Investment Research downgraded Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday. Sanford C. Bernstein assumed coverage on Ionis Pharmaceuticals in a research report on Thursday, July 27th. They set a “market perform” rating and a $57.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price objective on shares of Ionis Pharmaceuticals in a research report on Wednesday, July 26th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up previously from $59.56) on shares of Ionis Pharmaceuticals in a research report on Tuesday, July 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $47.13.

Ionis Pharmaceuticals (NASDAQ IONS) opened at 48.06 on Thursday. The company’s market cap is $5.96 billion. The company has a 50-day moving average of $52.99 and a 200-day moving average of $46.91. Ionis Pharmaceuticals has a 52 week low of $24.58 and a 52 week high of $60.01.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.03. Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 17.34%. The company had revenue of $104.15 million for the quarter, compared to the consensus estimate of $93.29 million. During the same period in the previous year, the business earned ($0.47) EPS. Ionis Pharmaceuticals’s revenue for the quarter was up 170.7% compared to the same quarter last year. On average, equities analysts expect that Ionis Pharmaceuticals will post $0.05 EPS for the current year.

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In related news, Chairman Stanley T. Crooke sold 16,500 shares of Ionis Pharmaceuticals stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $52.45, for a total transaction of $865,425.00. Following the completion of the sale, the chairman now owns 53,014 shares of the company’s stock, valued at $2,780,584.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP C Frank Bennett sold 10,000 shares of Ionis Pharmaceuticals stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $59.29, for a total value of $592,900.00. Following the sale, the senior vice president now directly owns 25,041 shares of the company’s stock, valued at approximately $1,484,680.89. The disclosure for this sale can be found here. In the last three months, insiders sold 54,379 shares of company stock valued at $2,946,052. Corporate insiders own 1.86% of the company’s stock.

Several large investors have recently added to or reduced their stakes in IONS. Parallel Advisors LLC increased its stake in Ionis Pharmaceuticals by 62.8% in the second quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock worth $109,000 after buying an additional 800 shares during the period. Hanseatic Management Services Inc. purchased a new stake in Ionis Pharmaceuticals during the first quarter worth approximately $138,000. Westpac Banking Corp purchased a new stake in Ionis Pharmaceuticals during the first quarter worth approximately $171,000. Capstone Asset Management Co. increased its stake in Ionis Pharmaceuticals by 10.3% in the first quarter. Capstone Asset Management Co. now owns 5,148 shares of the company’s stock worth $207,000 after buying an additional 480 shares during the period. Finally, World Asset Management Inc increased its stake in Ionis Pharmaceuticals by 27.3% in the first quarter. World Asset Management Inc now owns 5,427 shares of the company’s stock worth $218,000 after buying an additional 1,163 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Company Profile

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.

Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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