IONS has been the topic of several other research reports. Leerink Swann reissued an outperform rating and set a $45.00 target price (down previously from $47.00) on shares of Ionis Pharmaceuticals in a research report on Wednesday, May 17th. Zacks Investment Research raised Ionis Pharmaceuticals from a hold rating to a buy rating and set a $59.00 target price on the stock in a research report on Monday, July 31st. TheStreet raised Ionis Pharmaceuticals from a d+ rating to a c- rating in a research report on Wednesday, July 5th. BMO Capital Markets reissued a buy rating and set a $59.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, June 2nd. Finally, Barclays PLC began coverage on Ionis Pharmaceuticals in a research report on Wednesday, September 6th. They set an equal weight rating and a $55.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $49.31.
Ionis Pharmaceuticals (NASDAQ IONS) opened at 57.75 on Tuesday. The company has a market capitalization of $7.18 billion, a P/E ratio of 277.64 and a beta of 3.13. Ionis Pharmaceuticals has a one year low of $24.58 and a one year high of $60.01. The firm has a 50-day moving average of $50.99 and a 200-day moving average of $47.77.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $104.15 million during the quarter, compared to analyst estimates of $93.29 million. Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. Ionis Pharmaceuticals’s revenue for the quarter was up 170.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.47) EPS. On average, analysts anticipate that Ionis Pharmaceuticals will post ($0.17) earnings per share for the current year.
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In related news, major shareholder Ionis Pharmaceuticals Inc bought 3,125,000 shares of the stock in a transaction on Wednesday, July 19th. The shares were bought at an average cost of $8.00 per share, for a total transaction of $25,000,000.00. Following the purchase, the insider now owns 28,884,540 shares of the company’s stock, valued at approximately $231,076,320. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Patrick R. O’neil sold 1,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $55.00, for a total value of $55,000.00. Following the completion of the transaction, the senior vice president now owns 10,633 shares in the company, valued at $584,815. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,309 shares of company stock worth $2,997,692. 1.86% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the business. Hanseatic Management Services Inc. grew its stake 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 purchasing an additional 41 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Ionis Pharmaceuticals by 0.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 9,673 shares of the company’s stock valued at $492,000 after purchasing an additional 43 shares during the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of Ionis Pharmaceuticals by 0.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 24,390 shares of the company’s stock valued at $1,241,000 after purchasing an additional 65 shares during the last quarter. Utah Retirement Systems grew its stake in shares of Ionis Pharmaceuticals by 0.5% in the 1st quarter. Utah Retirement Systems now owns 22,000 shares of the company’s stock valued at $884,000 after purchasing an additional 100 shares during the last quarter. Finally, World Asset Management Inc grew its stake in shares of Ionis Pharmaceuticals by 3.4% in the 2nd quarter. World Asset Management Inc now owns 5,614 shares of the company’s stock valued at $286,000 after purchasing an additional 187 shares during the last quarter. Institutional investors own 89.33% of the company’s stock.
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.
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