Ionis Pharmaceuticals (NASDAQ:IONS) had its price target cut by Piper Jaffray Companies from $75.00 to $70.00 in a report issued on Thursday, The Fly reports. They currently have 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.
Other equities analysts have also issued research reports about the company. Evercore ISI set a $76.00 price target on Ionis Pharmaceuticals and gave the company a hold rating in a research note on Wednesday, August 7th. BMO Capital Markets decreased their price target on Ionis Pharmaceuticals from $96.00 to $95.00 and set an outperform rating on the stock in a research note on Wednesday, July 24th. Cantor Fitzgerald set a $65.00 price target on Ionis Pharmaceuticals and gave the company a hold rating in a research note on Tuesday, October 15th. TheStreet lowered Ionis Pharmaceuticals from a b- rating to a c rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Co upped their price target on Ionis Pharmaceuticals from $90.00 to $120.00 and gave the company an outperform rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $73.45.
NASDAQ:IONS traded up $1.71 during trading hours on Thursday, reaching $57.06. The company had a trading volume of 925,100 shares, compared to its average volume of 1,150,599. Ionis Pharmaceuticals has a 1-year low of $48.27 and a 1-year high of $86.58. The business’s 50 day moving average price is $57.99 and its 200-day moving average price is $64.32. The firm has a market cap of $7.64 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 15.24 and a beta of 1.90. The company has a debt-to-equity ratio of 0.45, a current ratio of 10.01 and a quick ratio of 9.93.
In related news, Chairman Stanley T. Crooke sold 22,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $71.52, for a total transaction of $1,573,440.00. Following the transaction, the chairman now owns 79,634 shares of the company’s stock, valued at approximately $5,695,423.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of IONS. DNB Asset Management AS acquired a new position in Ionis Pharmaceuticals during the 2nd quarter worth about $872,000. WINTON GROUP Ltd purchased a new stake in Ionis Pharmaceuticals during the 2nd quarter worth about $465,000. Campbell & CO Investment Adviser LLC purchased a new stake in Ionis Pharmaceuticals during the 2nd quarter worth about $365,000. PFS Investments Inc. increased its holdings in Ionis Pharmaceuticals by 208.5% during the 2nd quarter. PFS Investments Inc. now owns 15,644 shares of the company’s stock worth $1,010,000 after purchasing an additional 10,573 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Ionis Pharmaceuticals by 282.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 29,364 shares of the company’s stock worth $1,887,000 after purchasing an additional 21,688 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.
Ionis Pharmaceuticals Company Profile
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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