Zacks Investment Research upgraded shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a sell rating to a hold rating in a research note released on Friday.
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. “
Several other brokerages have also recently issued reports on IONS. BidaskClub upgraded Ionis Pharmaceuticals from a hold rating to a buy rating in a research note on Friday. Sanford C. Bernstein reiterated a market perform rating and issued a $55.00 price target (down from $61.00) on shares of Ionis Pharmaceuticals in a research note on Tuesday, February 20th. TheStreet cut Ionis Pharmaceuticals from a c rating to a d+ rating in a research note on Tuesday, February 27th. BMO Capital Markets boosted their price target on Ionis Pharmaceuticals from $64.00 to $65.00 and gave the company an outperform rating in a research note on Wednesday, February 28th. Finally, Stifel Nicolaus boosted their price target on Ionis Pharmaceuticals from $55.00 to $57.00 and gave the company a hold rating in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Ionis Pharmaceuticals presently has a consensus rating of Hold and a consensus target price of $51.12.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.10. The business had revenue of $172.00 million during the quarter, compared to analysts’ expectations of $126.38 million. Ionis Pharmaceuticals had a negative return on equity of 1.94% and a negative net margin of 1.18%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. research analysts predict that Ionis Pharmaceuticals will post -0.34 EPS for the current year.
In other Ionis Pharmaceuticals news, Director Joseph Klein III sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $51.91, for a total transaction of $155,730.00. Following the completion of the sale, the director now directly owns 10,839 shares in the company, valued at $562,652.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elizabeth L. Hougen sold 2,724 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $51.76, for a total value of $140,994.24. Following the sale, the chief financial officer now owns 17,224 shares of the company’s stock, valued at $891,514.24. The disclosure for this sale can be found here. Insiders have sold 113,635 shares of company stock valued at $5,876,141 over the last 90 days. Corporate insiders own 2.13% of the company’s stock.
Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in shares of Ionis Pharmaceuticals by 9.1% during the second quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock worth $190,000 after buying an additional 311 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Ionis Pharmaceuticals by 9.0% during the third quarter. Great West Life Assurance Co. Can now owns 13,296 shares of the company’s stock worth $698,000 after buying an additional 1,096 shares in the last quarter. Hanseatic Management Services Inc. increased its holdings in shares of Ionis Pharmaceuticals by 41.1% during the fourth quarter. Hanseatic Management Services Inc. now owns 4,154 shares of the company’s stock worth $209,000 after buying an additional 1,210 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Ionis Pharmaceuticals by 60.3% during the third quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $182,000 after buying an additional 1,250 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Ionis Pharmaceuticals by 5.8% during the fourth quarter. Amalgamated Bank now owns 24,702 shares of the company’s stock worth $1,243,000 after buying an additional 1,350 shares in the last quarter. Institutional investors own 90.95% of the company’s stock.
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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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