BidaskClub Upgrades Ionis Pharmaceuticals (NASDAQ:IONS) to “Buy”

BidaskClub upgraded shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a hold rating to a buy rating in a research report released on Saturday, BidAskClub reports.

Several other research analysts also recently commented on IONS. Cantor Fitzgerald decreased their price objective on Ionis Pharmaceuticals from $65.00 to $56.00 and set a neutral rating on the stock in a report on Thursday, March 26th. Zacks Investment Research downgraded Ionis Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price objective on Ionis Pharmaceuticals from $58.00 to $60.00 and gave the stock a neutral rating in a report on Monday, March 9th. Citigroup lifted their price objective on Ionis Pharmaceuticals from $71.00 to $80.00 and gave the stock a buy rating in a report on Friday, June 5th. Finally, ValuEngine downgraded Ionis Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Ionis Pharmaceuticals has an average rating of Hold and a consensus price target of $73.13.

Shares of IONS stock opened at $58.96 on Friday. The company has a quick ratio of 9.83, a current ratio of 9.91 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $56.72 and a two-hundred day moving average price of $56.41. Ionis Pharmaceuticals has a 12-month low of $39.32 and a 12-month high of $73.09. The firm has a market cap of $8.18 billion, a P/E ratio of 53.60 and a beta of 1.68.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.23). Ionis Pharmaceuticals had a return on equity of 12.50% and a net margin of 16.79%. The firm had revenue of $133.00 million for the quarter, compared to the consensus estimate of $161.59 million. During the same period last year, the firm earned $0.62 EPS. The company’s revenue for the quarter was down 55.2% on a year-over-year basis. As a group, research analysts expect that Ionis Pharmaceuticals will post -0.48 EPS for the current fiscal year.

In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 15,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $57.90, for a total transaction of $868,500.00. Following the sale, the chairman now directly owns 26,935 shares of the company’s stock, valued at approximately $1,559,536.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Stanley T. Crooke sold 5,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $58.80, for a total value of $294,000.00. Following the sale, the chairman now directly owns 11,935 shares in the company, valued at $701,778. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,000 shares of company stock worth $4,123,750. Insiders own 2.67% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of IONS. Americana Partners LLC bought a new stake in shares of Ionis Pharmaceuticals in the 4th quarter worth approximately $29,000. Balentine LLC bought a new position in Ionis Pharmaceuticals in the 1st quarter valued at approximately $29,000. Cornerstone Advisors Inc. lifted its position in Ionis Pharmaceuticals by 107.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 663 shares of the company’s stock valued at $31,000 after acquiring an additional 343 shares in the last quarter. Chevy Chase Trust Holdings Inc. bought a new position in Ionis Pharmaceuticals in the 4th quarter valued at approximately $37,000. Finally, NWK Group Inc. bought a new position in Ionis Pharmaceuticals in the 4th quarter valued at approximately $39,000. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

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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