Ionis Pharmaceuticals (NASDAQ:IONS) Earns Buy Rating from Analysts at Bank of America

Bank of America started coverage on shares of Ionis Pharmaceuticals (NASDAQ:IONS) in a research note issued to investors on Wednesday morning, The Fly reports. The firm issued a buy rating and a $70.00 price target on the stock.

Several other analysts have also issued reports on the stock. Evercore ISI set a $76.00 price target on shares of Ionis Pharmaceuticals and gave the stock a hold rating in a research report on Wednesday, August 7th. BidaskClub lowered shares of Ionis Pharmaceuticals from a sell rating to a strong sell rating in a research report on Tuesday, November 5th. Wells Fargo & Co lifted their target price on shares of Ionis Pharmaceuticals from $90.00 to $120.00 and gave the company an outperform rating in a research report on Thursday, October 10th. Morgan Stanley lowered shares of Ionis Pharmaceuticals from an equal rating to a weight rating and decreased their target price for the company from $63.00 to $48.00 in a research report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a buy rating and set a $87.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $73.67.

IONS stock traded up $0.82 during midday trading on Wednesday, reaching $58.61. The company had a trading volume of 620,400 shares, compared to its average volume of 1,030,403. The company has a current ratio of 10.39, a quick ratio of 10.31 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $8.13 billion, a P/E ratio of 19.80, a PEG ratio of 2.09 and a beta of 1.90. The company has a 50 day moving average of $57.47 and a two-hundred day moving average of $63.84. Ionis Pharmaceuticals has a 1 year low of $48.27 and a 1 year high of $86.58.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.49. The company had revenue of $168.00 million for the quarter, compared to analyst estimates of $152.47 million. Ionis Pharmaceuticals had a net margin of 52.26% and a return on equity of 36.31%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business posted ($0.03) EPS. On average, sell-side analysts anticipate that Ionis Pharmaceuticals will post 1.84 earnings per share for the current year.

In other news, Chairman Stanley T. Crooke sold 22,000 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $71.52, for a total transaction of $1,573,440.00. Following the sale, the chairman now directly owns 79,634 shares in the company, valued at approximately $5,695,423.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. boosted its position in Ionis Pharmaceuticals by 1.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,084 shares of the company’s stock valued at $1,040,000 after buying an additional 154 shares in the last quarter. Comerica Bank boosted its position in Ionis Pharmaceuticals by 1.1% in the second quarter. Comerica Bank now owns 15,590 shares of the company’s stock valued at $1,051,000 after buying an additional 170 shares in the last quarter. Coastal Investment Advisors Inc. boosted its position in Ionis Pharmaceuticals by 1.7% in the second quarter. Coastal Investment Advisors Inc. now owns 10,023 shares of the company’s stock valued at $640,000 after buying an additional 172 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in Ionis Pharmaceuticals by 41.3% in the second quarter. Rehmann Capital Advisory Group now owns 592 shares of the company’s stock valued at $38,000 after buying an additional 173 shares in the last quarter. Finally, Kistler Tiffany Companies LLC boosted its position in Ionis Pharmaceuticals by 9.9% in the third quarter. Kistler Tiffany Companies LLC now owns 2,006 shares of the company’s stock valued at $120,000 after buying an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.

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.

See Also: How prevalent are 12b-1 fees?

The Fly

Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

Receive News & Ratings for Ionis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.