Ionis Pharmaceuticals Inc (NASDAQ:IONS) Receives $74.00 Consensus Target Price from Analysts

Shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) have been given a consensus recommendation of “Hold” by the twenty research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $74.00.

IONS has been the subject of a number of recent analyst reports. Needham & Company LLC increased their price target on Ionis Pharmaceuticals from $89.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, September 1st. SVB Leerink increased their price target on Ionis Pharmaceuticals from $54.00 to $56.00 and gave the stock a “market perform” rating in a report on Tuesday, September 1st. Citigroup decreased their price target on Ionis Pharmaceuticals from $74.00 to $78.00 in a report on Tuesday, September 8th. JPMorgan Chase & Co. initiated coverage on shares of Ionis Pharmaceuticals in a research report on Monday. They set a “neutral” rating on the stock. Finally, Morgan Stanley cut their price objective on shares of Ionis Pharmaceuticals from $56.00 to $54.00 and set an “underweight” rating on the stock in a research report on Thursday, August 6th.

In related news, Chairman Stanley T. Crooke sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $58.80, for a total value of $294,000.00. Following the transaction, the chairman now owns 11,935 shares of the company’s stock, valued at approximately $701,778. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Stanley T. Crooke sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $58.33, for a total transaction of $583,300.00. Following the completion of the transaction, the chairman now directly owns 26,935 shares in the company, valued at approximately $1,571,118.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,314 shares of company stock worth $3,272,112. 2.67% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale lifted its position in shares of Ionis Pharmaceuticals by 2.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 8,078 shares of the company’s stock worth $476,000 after buying an additional 179 shares in the last quarter. M&T Bank Corp lifted its position in shares of Ionis Pharmaceuticals by 1.6% during the 2nd quarter. M&T Bank Corp now owns 12,957 shares of the company’s stock worth $765,000 after buying an additional 198 shares in the last quarter. Balentine LLC lifted its position in shares of Ionis Pharmaceuticals by 39.4% during the 2nd quarter. Balentine LLC now owns 845 shares of the company’s stock worth $50,000 after buying an additional 239 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Ionis Pharmaceuticals by 2.4% during the 1st quarter. HighTower Advisors LLC now owns 12,178 shares of the company’s stock worth $570,000 after buying an additional 289 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Ionis Pharmaceuticals by 14.8% during the 1st quarter. US Bancorp DE now owns 2,279 shares of the company’s stock worth $107,000 after buying an additional 294 shares in the last quarter. 85.39% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ IONS traded down $0.13 on Wednesday, reaching $52.80. The company had a trading volume of 485 shares, compared to its average volume of 859,623. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.94 and a quick ratio of 10.84. The business has a 50 day moving average of $54.65 and a two-hundred day moving average of $54.89. Ionis Pharmaceuticals has a fifty-two week low of $39.32 and a fifty-two week high of $66.25. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 60.15 and a beta of 1.52.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.05. Ionis Pharmaceuticals had a return on equity of 10.27% and a net margin of 13.81%. The firm had revenue of $146.00 million during the quarter, compared to the consensus estimate of $148.87 million. During the same period last year, the business posted ($0.01) EPS. The business’s revenue was down 11.0% compared to the same quarter last year. As a group, research analysts predict that Ionis Pharmaceuticals will post -0.57 earnings per share for the current fiscal year.

About Ionis Pharmaceuticals

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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