Needham & Company LLC reaffirmed their buy rating on shares of Ionis Pharmaceuticals (NASDAQ:IONS) in a research report released on Thursday, AnalystRatings.com reports. They currently have a $87.00 target price on the stock.
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Several other equities research analysts have also recently commented 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. ValuEngine upgraded shares of Ionis Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, November 1st. Wells Fargo & Co boosted their price target on shares of Ionis Pharmaceuticals from $90.00 to $120.00 and gave the stock an outperform rating in a research report on Thursday, October 10th. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, October 29th. Finally, Cantor Fitzgerald set a $65.00 price target on shares of Ionis Pharmaceuticals and gave the stock a hold rating in a research report on Tuesday, October 15th. 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 company currently has a consensus rating of Hold and a consensus target price of $73.45.
Ionis Pharmaceuticals stock traded up $1.71 during mid-day trading on Thursday, reaching $57.06. The company’s stock had a trading volume of 925,100 shares, compared to its average volume of 1,150,599. The company has a current ratio of 10.01, a quick ratio of 9.93 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average price of $57.99 and a 200-day moving average price of $64.32. Ionis Pharmaceuticals has a twelve month low of $48.27 and a twelve month high of $86.58. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 15.24 and a beta of 1.90.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.31) by $0.49. Ionis Pharmaceuticals had a net margin of 49.90% and a return on equity of 38.70%. The firm had revenue of $168.00 million for the quarter, compared to analysts’ expectations of $152.47 million. During the same period in the previous year, the business earned ($0.03) earnings per share. Ionis Pharmaceuticals’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities analysts expect that Ionis Pharmaceuticals will post 0.25 EPS for the current fiscal year.
In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 22,000 shares of the business’s 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 sale, the chairman now owns 79,634 shares in the company, valued at approximately $5,695,423.68. The transaction was disclosed in a filing with the SEC, which is available through this link. 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. Vanguard Group Inc. grew its stake in Ionis Pharmaceuticals by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 12,856,865 shares of the company’s stock valued at $826,311,000 after acquiring an additional 383,350 shares in the last quarter. BlackRock Inc. grew its stake in Ionis Pharmaceuticals by 15.5% during the 2nd quarter. BlackRock Inc. now owns 8,802,576 shares of the company’s stock valued at $565,743,000 after acquiring an additional 1,181,004 shares in the last quarter. Invesco Ltd. grew its stake in Ionis Pharmaceuticals by 2,754.9% during the 2nd quarter. Invesco Ltd. now owns 2,271,539 shares of the company’s stock valued at $145,992,000 after acquiring an additional 2,191,974 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Ionis Pharmaceuticals during the 2nd quarter valued at about $112,814,000. Finally, Wells Fargo & Company MN grew its stake in Ionis Pharmaceuticals by 5.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,076,304 shares of the company’s stock valued at $69,174,000 after acquiring an additional 59,667 shares in the last quarter. 88.89% of the stock is currently owned by 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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