Ionis Pharmaceuticals Inc (IONS) Receives $64.38 Average PT from Brokerages

Shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) have received an average rating of “Hold” from the eleven ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $64.38.

IONS has been the subject of a number of analyst reports. Piper Jaffray Companies set a $75.00 target price on shares of Ionis Pharmaceuticals and gave the company a “hold” rating in a research report on Friday, May 24th. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research report on Wednesday, April 10th. ValuEngine raised shares of Ionis Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 28th. JPMorgan Chase & Co. increased their target price on shares of Ionis Pharmaceuticals from $47.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Finally, BMO Capital Markets increased their target price on shares of Ionis Pharmaceuticals to $96.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd.

NASDAQ:IONS traded down $2.78 during midday trading on Thursday, reaching $63.49. 994,504 shares of the stock traded hands, compared to its average volume of 1,251,352. Ionis Pharmaceuticals has a 12-month low of $40.91 and a 12-month high of $86.58. The company has a quick ratio of 9.36, a current ratio of 9.40 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 21.45 and a beta of 2.28.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Thursday, May 9th. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.19. Ionis Pharmaceuticals had a net margin of 47.74% and a return on equity of 44.03%. The company had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $285.43 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. Ionis Pharmaceuticals’s revenue for the quarter was up 106.3% compared to the same quarter last year. As a group, analysts expect that Ionis Pharmaceuticals will post -0.21 EPS for the current year.

In other Ionis Pharmaceuticals news, Director Frederick T. Muto sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $72.75, for a total transaction of $582,000.00. Following the transaction, the director now owns 17,794 shares in the company, valued at approximately $1,294,513.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director B Lynne Parshall sold 8,334 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $75.00, for a total transaction of $625,050.00. Following the transaction, the director now owns 61,011 shares in the company, valued at approximately $4,575,825. The disclosure for this sale can be found here. Insiders have sold a total of 240,556 shares of company stock worth $19,431,650 in the last 90 days. 2.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of IONS. Buffington Mohr McNeal acquired a new stake in shares of Ionis Pharmaceuticals in the first quarter worth $28,000. First Interstate Bank acquired a new stake in shares of Ionis Pharmaceuticals in the first quarter worth $34,000. Huntington National Bank increased its stake in shares of Ionis Pharmaceuticals by 159.3% in the fourth quarter. Huntington National Bank now owns 638 shares of the company’s stock worth $34,000 after acquiring an additional 392 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Ionis Pharmaceuticals by 2,839.1% in the first quarter. Quadrant Capital Group LLC now owns 676 shares of the company’s stock worth $53,000 after acquiring an additional 653 shares during the period. Finally, Essex Savings Bank acquired a new stake in shares of Ionis Pharmaceuticals in the fourth quarter worth $39,000. Institutional investors and hedge funds own 82.68% 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.

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Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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