Ionis Pharmaceuticals (NASDAQ:IONS) PT Lowered to $70.00 at Piper Jaffray Companies

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.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.49. Ionis Pharmaceuticals had a return on equity of 38.70% and a net margin of 49.90%. The business had revenue of $168.00 million for the quarter, compared to analyst estimates of $152.47 million. During the same quarter in the prior year, the company posted ($0.03) EPS. The company’s quarterly revenue was up 15.9% on a year-over-year basis. On average, analysts expect that Ionis Pharmaceuticals will post 0.25 earnings per share for the current fiscal year.

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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Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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