Ionis Pharmaceuticals (NASDAQ:IONS) had its price objective decreased by Piper Jaffray Companies from $75.00 to $70.00 in a research note released on Thursday morning, The Fly reports. Piper Jaffray Companies currently has a neutral rating on the stock. Piper Jaffray Companies also issued estimates for Ionis Pharmaceuticals’ Q3 2020 earnings at $0.05 EPS, Q1 2021 earnings at $0.35 EPS, Q2 2021 earnings at $0.40 EPS and Q3 2021 earnings at $0.40 EPS.
Several other equities analysts also recently weighed in on IONS. Cowen reissued a hold rating on shares of Ionis Pharmaceuticals in a research report on Thursday. Sanford C. Bernstein raised Ionis Pharmaceuticals from a market perform rating to an outperform rating and set a $80.00 price objective for the company in a research report on Tuesday, September 10th. Cantor Fitzgerald set a $65.00 price objective on Ionis Pharmaceuticals and gave the company a hold rating in a research report on Tuesday, October 15th. Wells Fargo & Co lifted their price objective on Ionis Pharmaceuticals from $90.00 to $120.00 and gave the company an outperform rating in a research report on Thursday, October 10th. Finally, TheStreet downgraded Ionis Pharmaceuticals from a b- rating to a c rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Ionis Pharmaceuticals currently has a consensus rating of Hold and an average price target of $73.45.
Shares of IONS traded up $1.71 during mid-day trading on Thursday, hitting $57.06. The company’s stock had a trading volume of 925,100 shares, compared to its average volume of 1,150,599. The company has a current ratio of 10.01, a quick ratio of 9.93 and a debt-to-equity ratio of 0.45. The firm has a 50-day simple moving average of $57.99 and a 200 day simple moving average of $64.32. The firm has a market capitalization of $7.64 billion, a P/E ratio of 19.28, a P/E/G ratio of 15.24 and a beta of 1.90. Ionis Pharmaceuticals has a 1-year low of $48.27 and a 1-year high of $86.58.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.49. The company had revenue of $168.00 million during the quarter, compared to the consensus estimate of $152.47 million. Ionis Pharmaceuticals had a return on equity of 38.70% and a net margin of 49.90%. Ionis Pharmaceuticals’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) earnings per share. As a group, sell-side analysts predict that Ionis Pharmaceuticals will post 0.25 EPS for the current fiscal year.
In related news, Chairman Stanley T. Crooke sold 22,000 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $71.52, for a total value of $1,573,440.00. Following the transaction, the chairman now owns 79,634 shares in the company, valued at $5,695,423.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Whittier Trust Co. boosted its holdings in Ionis Pharmaceuticals by 283.0% in the second quarter. Whittier Trust Co. now owns 383 shares of the company’s stock valued at $25,000 after acquiring an additional 283 shares during the last quarter. CWM LLC boosted its holdings in Ionis Pharmaceuticals by 361.4% in the second quarter. CWM LLC now owns 406 shares of the company’s stock valued at $26,000 after acquiring an additional 318 shares during the last quarter. Ellis Investment Partners LLC acquired a new position in Ionis Pharmaceuticals in the second quarter valued at $32,000. Quest Capital Management Inc. ADV acquired a new position in Ionis Pharmaceuticals in the third quarter valued at $36,000. Finally, Rehmann Capital Advisory Group boosted its holdings in Ionis Pharmaceuticals by 41.3% in the second quarter. Rehmann Capital Advisory Group now owns 592 shares of the company’s stock valued at $38,000 after acquiring an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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