Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) had its target price decreased by Barclays PLC from $55.00 to $52.00 in a research report issued on Thursday. The firm currently has an “equal weight” rating on the stock. Barclays PLC’s price objective indicates a potential downside of 3.49% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price target on shares of Ionis Pharmaceuticals in a research note on Wednesday, July 26th. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Monday, July 31st. BMO Capital Markets reiterated a “buy” rating and issued a $59.00 price target on shares of Ionis Pharmaceuticals in a research note on Friday, June 2nd. Laidlaw reiterated a “buy” rating and issued a $65.00 price target on shares of Ionis Pharmaceuticals in a research note on Monday, August 14th. Finally, TheStreet upgraded shares of Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research note on Wednesday, July 5th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $49.11.
Ionis Pharmaceuticals (IONS) traded down 2.9323% during trading on Thursday, hitting $52.3001. 1,095,418 shares of the stock were exchanged. The firm has a market capitalization of $6.50 billion, a PE ratio of 251.4428 and a beta of 3.13. The stock has a 50 day moving average price of $51.73 and a 200-day moving average price of $48.15. Ionis Pharmaceuticals has a 12-month low of $24.58 and a 12-month high of $60.01.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The company had revenue of $104.15 million for the quarter, compared to analyst estimates of $93.29 million. During the same quarter in the previous year, the business earned ($0.47) earnings per share. The company’s revenue was up 170.7% on a year-over-year basis. On average, equities research analysts anticipate that Ionis Pharmaceuticals will post ($0.17) earnings per share for the current fiscal year.
In other news, major shareholder Ionis Pharmaceuticals Inc bought 3,125,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was bought at an average cost of $8.00 per share, for a total transaction of $25,000,000.00. Following the transaction, the insider now owns 28,884,540 shares of the company’s stock, valued at $231,076,320. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Patrick R. O’neil sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $55.00, for a total transaction of $55,000.00. Following the completion of the transaction, the senior vice president now owns 10,633 shares of the company’s stock, valued at $584,815. The disclosure for this sale can be found here. Insiders sold a total of 55,309 shares of company stock valued at $2,997,692 in the last three months. Insiders own 1.86% of the company’s stock.
Large investors have recently modified their holdings of the company. Parallel Advisors LLC raised its position in shares of Ionis Pharmaceuticals by 62.8% in the 2nd quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock valued at $109,000 after buying an additional 800 shares in the last quarter. Hanseatic Management Services Inc. raised its position in shares of Ionis Pharmaceuticals by 1.2% in the 2nd quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock valued at $177,000 after buying an additional 41 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Ionis Pharmaceuticals by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock valued at $190,000 after buying an additional 311 shares in the last quarter. WFG Advisors LP raised its position in shares of Ionis Pharmaceuticals by 77.2% in the 2nd quarter. WFG Advisors LP now owns 3,800 shares of the company’s stock valued at $193,000 after buying an additional 1,655 shares in the last quarter. Finally, Westpac Banking Corp acquired a new position in shares of Ionis Pharmaceuticals in the 1st quarter valued at approximately $171,000. Institutional investors own 89.24% of the company’s stock.
About Ionis Pharmaceuticals
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.
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