Ionis Pharmaceuticals (IONS) Given a $50.00 Price Target at Piper Jaffray Companies

Piper Jaffray Companies set a $50.00 target price on Ionis Pharmaceuticals (NASDAQ:IONS) in a report released on Tuesday. The firm currently has a hold rating on the stock. Piper Jaffray Companies also issued estimates for Ionis Pharmaceuticals’ Q4 2018 earnings at $0.23 EPS, Q1 2019 earnings at ($0.05) EPS, Q2 2019 earnings at $0.05 EPS, Q2 2019 earnings at $0.00 EPS, Q3 2019 earnings at $0.10 EPS, Q3 2019 earnings at $0.15 EPS, Q4 2019 earnings at $0.40 EPS, Q4 2019 earnings at $0.35 EPS, FY2019 earnings at $0.35 EPS, FY2019 earnings at $0.55 EPS, FY2020 earnings at $1.45 EPS, FY2020 earnings at $1.50 EPS, FY2021 earnings at $3.00 EPS, FY2022 earnings at $4.55 EPS and FY2022 earnings at $4.90 EPS.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus cut their price objective on Ionis Pharmaceuticals from $47.00 to $45.00 and set a hold rating for the company in a research report on Tuesday, August 28th. Zacks Investment Research cut Ionis Pharmaceuticals from a strong-buy rating to a hold rating in a research report on Tuesday, July 17th. Morgan Stanley dropped their price target on Ionis Pharmaceuticals from $51.00 to $49.00 and set an equal weight rating for the company in a research report on Wednesday, August 8th. Finally, ValuEngine upgraded Ionis Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $54.00.

NASDAQ:IONS traded down $1.29 during trading hours on Tuesday, hitting $51.50. The company’s stock had a trading volume of 1,136,791 shares, compared to its average volume of 1,085,358. The company has a current ratio of 7.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.74. Ionis Pharmaceuticals has a 52-week low of $39.07 and a 52-week high of $57.92.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.10. The firm had revenue of $145.40 million during the quarter, compared to analysts’ expectations of $146.77 million. Ionis Pharmaceuticals had a negative return on equity of 1.58% and a negative net margin of 7.52%. Ionis Pharmaceuticals’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.02) earnings per share. Equities analysts anticipate that Ionis Pharmaceuticals will post -0.15 earnings per share for the current year.

In other news, SVP C Frank Bennett sold 12,500 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $49.54, for a total value of $619,250.00. Following the completion of the transaction, the senior vice president now owns 31,896 shares in the company, valued at $1,580,127.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Brett P. Monia sold 16,493 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $54.00, for a total value of $890,622.00. Following the completion of the transaction, the chief operating officer now owns 24,834 shares of the company’s stock, valued at approximately $1,341,036. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. FMR LLC increased its position in shares of Ionis Pharmaceuticals by 8.7% in the third quarter. FMR LLC now owns 20,463,839 shares of the company’s stock valued at $1,055,525,000 after buying an additional 1,635,782 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Ionis Pharmaceuticals by 48.2% during the second quarter. Baillie Gifford & Co. now owns 9,279,730 shares of the company’s stock valued at $386,687,000 after acquiring an additional 3,017,079 shares during the last quarter. BB Biotech AG boosted its stake in shares of Ionis Pharmaceuticals by 1.8% during the second quarter. BB Biotech AG now owns 8,666,334 shares of the company’s stock valued at $361,126,000 after acquiring an additional 150,000 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Ionis Pharmaceuticals by 5.8% during the third quarter. BlackRock Inc. now owns 7,463,257 shares of the company’s stock valued at $384,955,000 after acquiring an additional 408,678 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in shares of Ionis Pharmaceuticals by 2.0% during the second quarter. OppenheimerFunds Inc. now owns 2,932,050 shares of the company’s stock valued at $122,179,000 after acquiring an additional 57,025 shares during the last quarter. Institutional investors and hedge funds own 86.35% of the company’s stock.

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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