Ionis Pharmaceuticals (NASDAQ:IONS) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, BidAskClub reports.
Other equities analysts have also issued research reports about the stock. William Blair began coverage on shares of Ionis Pharmaceuticals in a report on Thursday, November 14th. They issued a “market perform” rating for the company. Zacks Investment Research lowered shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Piper Jaffray Companies reduced their target price on shares of Ionis Pharmaceuticals from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Co upped their target price on shares of Ionis Pharmaceuticals from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley lowered shares of Ionis Pharmaceuticals from an “equal” rating to an “equal weight” rating and reduced their target price for the stock from $63.00 to $48.00 in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Ionis Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $75.67.
Shares of IONS stock opened at $60.13 on Friday. Ionis Pharmaceuticals has a 12-month low of $53.34 and a 12-month high of $86.58. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 36.38 and a beta of 1.92. The company has a quick ratio of 10.31, a current ratio of 10.39 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average of $62.38 and a 200-day moving average of $62.39.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.49. Ionis Pharmaceuticals had a net margin of 52.26% and a return on equity of 36.31%. The company had revenue of $168.00 million during the quarter, compared to analyst estimates of $152.47 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The firm’s revenue was up 15.9% on a year-over-year basis. Research analysts expect that Ionis Pharmaceuticals will post 1.82 earnings per share for the current year.
In other news, CFO Elizabeth L. Hougen sold 4,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $58.80, for a total transaction of $235,200.00. Following the completion of the transaction, the chief financial officer now directly owns 24,055 shares in the company, valued at approximately $1,414,434. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Richard S. Geary sold 5,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $65.06, for a total transaction of $325,300.00. Following the transaction, the senior vice president now owns 26,583 shares of the company’s stock, valued at $1,729,489.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,327 shares of company stock valued at $2,534,865. Company insiders own 2.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Quest Capital Management Inc. ADV acquired a new position in shares of Ionis Pharmaceuticals during the 3rd quarter worth about $36,000. Rehmann Capital Advisory Group boosted its stake in shares of Ionis Pharmaceuticals by 41.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 592 shares of the company’s stock worth $38,000 after buying an additional 173 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Ionis Pharmaceuticals during the 3rd quarter worth about $40,000. Evoke Wealth LLC acquired a new position in shares of Ionis Pharmaceuticals during the 3rd quarter worth about $41,000. Finally, Bradley Foster & Sargent Inc. CT acquired a new position in shares of Ionis Pharmaceuticals during the 3rd quarter worth about $49,000. Institutional investors own 85.64% of the company’s stock.
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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