Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Get Free Report) has earned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $96.05.
Several research analysts have commented on the company. Raymond James Financial set a $87.00 target price on Ionis Pharmaceuticals in a research note on Thursday, July 9th. Bank of America upped their price target on Ionis Pharmaceuticals from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a report on Tuesday, April 21st. Royal Bank Of Canada cut their price objective on shares of Ionis Pharmaceuticals from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Finally, Canaccord Genuity Group reduced their price objective on shares of Ionis Pharmaceuticals from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, July 10th.
Read Our Latest Report on Ionis Pharmaceuticals
Ionis Pharmaceuticals Trading Down 0.5%
Ionis Pharmaceuticals (NASDAQ:IONS – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.29. The firm had revenue of $246.09 million during the quarter, compared to analyst estimates of $195.56 million. Ionis Pharmaceuticals had a negative return on equity of 58.65% and a negative net margin of 30.91%.The business’s revenue for the quarter was up 86.4% on a year-over-year basis. During the same period last year, the company earned ($0.93) earnings per share. As a group, analysts anticipate that Ionis Pharmaceuticals will post -3.76 earnings per share for the current year.
Insider Transactions at Ionis Pharmaceuticals
In other news, EVP Eugene Schneider sold 26,000 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $81.05, for a total transaction of $2,107,300.00. Following the completion of the transaction, the executive vice president directly owned 77,114 shares in the company, valued at $6,250,089.70. The trade was a 25.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett P. Monia sold 50,000 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $80.59, for a total transaction of $4,029,500.00. Following the completion of the transaction, the chief executive officer directly owned 245,571 shares in the company, valued at approximately $19,790,566.89. The trade was a 16.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 233,163 shares of company stock worth $18,316,551. 1.81% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Ionis Pharmaceuticals
A number of institutional investors have recently added to or reduced their stakes in IONS. Capital World Investors grew its stake in Ionis Pharmaceuticals by 41.2% in the 4th quarter. Capital World Investors now owns 17,961,299 shares of the company’s stock worth $1,420,918,000 after buying an additional 5,238,571 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Ionis Pharmaceuticals by 19,941.6% during the 4th quarter. Franklin Resources Inc. now owns 1,321,345 shares of the company’s stock valued at $104,532,000 after buying an additional 1,314,752 shares in the last quarter. Baker BROS. Advisors LP lifted its holdings in shares of Ionis Pharmaceuticals by 216.1% during the 4th quarter. Baker BROS. Advisors LP now owns 1,791,841 shares of the company’s stock worth $141,753,000 after acquiring an additional 1,225,043 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Ionis Pharmaceuticals by 7,219.3% during the 3rd quarter. Marshall Wace LLP now owns 958,829 shares of the company’s stock worth $62,727,000 after acquiring an additional 945,729 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Ionis Pharmaceuticals in the third quarter worth $41,223,000. 93.86% of the stock is currently owned by institutional investors.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.
Since its founding in 1989 by Dr.
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