Zacks Investment Research upgraded shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
According to Zacks, “Ionis Pharmaceuticals, Inc. is a RNA-targeted drug discovery and development company which focuses on developing drugs for severe and rare diseases. Ionis Pharmaceuticals, Inc., formerly known as Isis Pharmaceuticals, Inc., is headquartered in Carlsbad, California. “
A number of other equities analysts also recently weighed in on the stock. BidaskClub raised shares of Ionis Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, December 7th. Sanford C. Bernstein reissued a market perform rating and issued a $55.00 price target (down from $61.00) on shares of Ionis Pharmaceuticals in a report on Tuesday, February 20th. TheStreet downgraded shares of Ionis Pharmaceuticals from a c rating to a d+ rating in a report on Tuesday, February 27th. Stifel Nicolaus boosted their price target on shares of Ionis Pharmaceuticals from $55.00 to $57.00 and gave the stock a hold rating in a report on Wednesday, February 28th. Finally, BMO Capital Markets boosted their price target on shares of Ionis Pharmaceuticals from $64.00 to $65.00 and gave the stock an outperform rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Ionis Pharmaceuticals currently has a consensus rating of Hold and a consensus price target of $51.12.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.10. The company had revenue of $172.00 million for the quarter, compared to the consensus estimate of $126.38 million. Ionis Pharmaceuticals had a negative net margin of 1.18% and a negative return on equity of 1.94%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. analysts expect that Ionis Pharmaceuticals will post -0.34 EPS for the current fiscal year.
In other Ionis Pharmaceuticals news, Director Joseph Klein III sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $48.99, for a total transaction of $146,970.00. Following the sale, the director now directly owns 11,339 shares of the company’s stock, valued at $555,497.61. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Stanley T. Crooke sold 22,000 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $50.01, for a total transaction of $1,100,220.00. Following the sale, the chairman now directly owns 58,014 shares in the company, valued at $2,901,280.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,635 shares of company stock worth $5,876,141. Insiders own 2.13% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB purchased a new stake in Ionis Pharmaceuticals during the fourth quarter valued at about $599,000. Iguana Healthcare Management LLC lifted its holdings in Ionis Pharmaceuticals by 166.7% during the fourth quarter. Iguana Healthcare Management LLC now owns 40,000 shares of the company’s stock valued at $2,012,000 after purchasing an additional 25,000 shares during the last quarter. LPL Financial LLC lifted its holdings in Ionis Pharmaceuticals by 14.6% during the fourth quarter. LPL Financial LLC now owns 50,677 shares of the company’s stock valued at $2,549,000 after purchasing an additional 6,465 shares during the last quarter. Millennium Management LLC lifted its holdings in Ionis Pharmaceuticals by 1.5% during the fourth quarter. Millennium Management LLC now owns 195,917 shares of the company’s stock valued at $9,855,000 after purchasing an additional 2,874 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in Ionis Pharmaceuticals by 1.4% during the fourth quarter. Teachers Advisors LLC now owns 134,007 shares of the company’s stock valued at $6,741,000 after purchasing an additional 1,913 shares during the last quarter. 90.95% of the stock is currently owned by institutional investors and hedge funds.
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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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