HC Wainwright reissued their buy rating on shares of Ionis Pharmaceuticals (NASDAQ:IONS – Free Report) in a research note released on Monday, Marketbeat Ratings reports. HC Wainwright currently has a $115.00 price objective on the stock.
Several other equities analysts have also weighed in on the stock. Raymond James Financial set a $87.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, July 9th. BMO Capital Markets assumed coverage on shares of Ionis Pharmaceuticals in a research note on Wednesday, August 19th. They issued a “market perform” rating and a $60.00 price objective on the stock. Needham & Company LLC lowered their target price on shares of Ionis Pharmaceuticals from $105.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, July 9th. The Goldman Sachs Group reiterated a “neutral” rating and set a $69.00 target price on shares of Ionis Pharmaceuticals in a research report on Wednesday, July 29th. Finally, Wall Street Zen downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Seventeen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.15.
Check Out Our Latest Stock Report on IONS
Ionis Pharmaceuticals Stock Performance
Ionis Pharmaceuticals (NASDAQ:IONS – Get Free Report) last released its earnings results 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. The company had revenue of $267.95 million for the quarter, compared to the consensus estimate of $189.10 million. Ionis Pharmaceuticals had a negative net margin of 64.76% and a negative return on equity of 111.08%. The company’s revenue was down 40.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. Equities analysts predict that Ionis Pharmaceuticals will post -3.57 earnings per share for the current year.
Insider Buying and Selling
In other news, EVP Eugene Schneider sold 26,000 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $81.05, for a total value of $2,107,300.00. Following the completion of the sale, the executive vice president directly owned 77,114 shares of the company’s stock, valued at $6,250,089.70. This represents a 25.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP C Frank Bennett sold 5,536 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $83.58, for a total transaction of $462,698.88. Following the completion of the sale, the executive vice president owned 75,018 shares in the company, valued at $6,270,004.44. This represents a 6.87% decrease in their ownership of the stock. 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 sold a total of 225,163 shares of company stock worth $17,711,191 over the last quarter. Insiders own 1.81% of the company’s stock.
Hedge Funds Weigh In On Ionis Pharmaceuticals
Several institutional investors and hedge funds have recently made changes to their positions in IONS. Goldman Sachs Group Inc. raised its stake in Ionis Pharmaceuticals by 72.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 652,518 shares of the company’s stock worth $19,686,000 after buying an additional 274,310 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Ionis Pharmaceuticals by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 659,435 shares of the company’s stock valued at $19,895,000 after acquiring an additional 39,794 shares during the period. Focus Partners Wealth grew its stake in Ionis Pharmaceuticals by 30.1% in the first quarter. Focus Partners Wealth now owns 9,832 shares of the company’s stock valued at $297,000 after acquiring an additional 2,277 shares during the period. Franklin Resources Inc. bought a new stake in shares of Ionis Pharmaceuticals in the second quarter worth about $220,000. Finally, Prudential Financial Inc. increased its holdings in shares of Ionis Pharmaceuticals by 47.8% in the second quarter. Prudential Financial Inc. now owns 9,254 shares of the company’s stock worth $341,000 after acquiring an additional 2,991 shares in the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.
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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