BMO Capital Markets started coverage on shares of Ionis Pharmaceuticals (NASDAQ:IONS – Free Report) in a research report report published on Wednesday, Marketbeat Ratings reports. The firm issued a market perform rating and a $60.00 price objective on the stock.
Other equities analysts have also issued reports about the company. Morgan Stanley dropped their price target on Ionis Pharmaceuticals from $130.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, July 10th. TD Cowen reaffirmed a “buy” rating and set a $108.00 price objective on shares of Ionis Pharmaceuticals in a research report on Monday, June 15th. Guggenheim lowered their price objective on shares of Ionis Pharmaceuticals from $106.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Jefferies Financial Group dropped their target price on shares of Ionis Pharmaceuticals from $113.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Ionis Pharmaceuticals in a research note on Thursday, July 16th. Seventeen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $94.15.
View Our Latest Research Report on IONS
Ionis Pharmaceuticals Stock Performance
Ionis Pharmaceuticals (NASDAQ:IONS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.39. Ionis Pharmaceuticals had a negative return on equity of 111.08% and a negative net margin of 64.76%.The company had revenue of $267.95 million for the quarter, compared to the consensus estimate of $189.10 million. During the same period in the previous year, the business earned $0.70 EPS. The firm’s revenue was down 40.7% compared to the same quarter last year. As a group, equities research analysts expect that Ionis Pharmaceuticals will post -3.57 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Michael R. Hayden purchased 15,000 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was acquired at an average price of $53.38 per share, for a total transaction of $800,700.00. Following the purchase, the director owned 19,000 shares of the company’s stock, valued at approximately $1,014,220. This trade represents a 375.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Holly B. Kordasiewicz sold 60,846 shares of Ionis Pharmaceuticals stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $73.41, for a total value of $4,466,704.86. Following the transaction, the executive vice president owned 22,458 shares of the company’s stock, valued at $1,648,641.78. This trade represents a 73.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 233,163 shares of company stock worth $18,316,551 in the last 90 days. Company insiders own 1.81% of the company’s stock.
Institutional Investors Weigh In On Ionis Pharmaceuticals
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. bought a new position in shares of Ionis Pharmaceuticals during the fourth quarter valued at about $27,000. Cassaday & Co Wealth Management LLC bought a new stake in Ionis Pharmaceuticals in the 1st quarter worth about $30,000. Quarry LP purchased a new stake in Ionis Pharmaceuticals in the 3rd quarter valued at about $38,000. Allworth Financial LP purchased a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at about $41,000. Finally, Silvant Capital Management LLC purchased a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at about $43,000. 93.86% of the stock is owned by hedge funds and other institutional investors.
About Ionis Pharmaceuticals
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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