Cowen reissued their hold rating on shares of Ionis Pharmaceuticals (NASDAQ:IONS) in a research note released on Wednesday morning, AnalystRatings.com reports.
Several other analysts have also commented on IONS. Sanford C. Bernstein upgraded shares of Ionis Pharmaceuticals from a market perform rating to an outperform rating and set a $80.00 price target on the stock in a research report on Tuesday, September 10th. Zacks Investment Research lowered shares of Ionis Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday. BidaskClub upgraded shares of Ionis Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, October 10th. Morgan Stanley lowered their price target on shares of Ionis Pharmaceuticals from $68.00 to $63.00 and set an equal weight rating on the stock in a research report on Friday, October 11th. Finally, Needham & Company LLC set a $87.00 price target on shares of Ionis Pharmaceuticals and gave the company a buy rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $76.00.
Shares of IONS stock traded down $0.75 during trading hours on Wednesday, hitting $55.79. The company’s stock had a trading volume of 996,273 shares, compared to its average volume of 1,000,754. The business has a fifty day moving average of $61.45 and a 200-day moving average of $67.12. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 18.85 and a beta of 1.95. Ionis Pharmaceuticals has a twelve month low of $44.60 and a twelve month high of $86.58. The company has a current ratio of 10.01, a quick ratio of 9.93 and a debt-to-equity ratio of 0.45.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.26. The business had revenue of $164.00 million for the quarter, compared to analyst estimates of $145.31 million. Ionis Pharmaceuticals had a net margin of 49.90% and a return on equity of 38.70%. The company’s quarterly revenue was up 39.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.29) earnings per share. On average, equities analysts expect that Ionis Pharmaceuticals will post -0.04 EPS for the current fiscal year.
In related news, Chairman Stanley T. Crooke sold 22,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 $5,695,423.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in IONS. Whittier Trust Co. boosted its position in Ionis Pharmaceuticals by 283.0% during the second quarter. Whittier Trust Co. now owns 383 shares of the company’s stock worth $25,000 after acquiring an additional 283 shares during the last quarter. CWM LLC boosted its position in Ionis Pharmaceuticals by 361.4% during the second quarter. CWM LLC now owns 406 shares of the company’s stock worth $26,000 after acquiring an additional 318 shares during the last quarter. Ellis Investment Partners LLC acquired a new stake in Ionis Pharmaceuticals during the second quarter worth approximately $32,000. Rehmann Capital Advisory Group boosted its position in Ionis Pharmaceuticals by 41.3% during the second quarter. Rehmann Capital Advisory Group now owns 592 shares of the company’s stock worth $38,000 after acquiring an additional 173 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in Ionis Pharmaceuticals by 38.5% during the second quarter. Advisory Services Network LLC now owns 907 shares of the company’s stock worth $58,000 after acquiring an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 89.03% 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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