Several other brokerages have also commented on IONS. ValuEngine raised Ionis Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, December 3rd. Piper Jaffray Companies decreased their price objective on shares of Ionis Pharmaceuticals from $75.00 to $70.00 and set a neutral rating for the company in a report on Thursday, November 7th. Cowen reiterated a hold rating on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. Morgan Stanley cut shares of Ionis Pharmaceuticals from an equal rating to an equal weight rating and decreased their price objective for the stock from $63.00 to $48.00 in a report on Thursday, November 7th. Finally, Wells Fargo & Co upped their price objective on shares of Ionis Pharmaceuticals from $90.00 to $120.00 and gave the stock an outperform rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $75.67.
Shares of NASDAQ:IONS traded down $1.33 during mid-day trading on Friday, reaching $60.13. 1,805,801 shares of the company traded hands, compared to its average volume of 685,433. The company’s 50 day moving average price is $62.38 and its 200-day moving average price is $62.39. The firm has a market cap of $8.65 billion, a PE ratio of 20.04, a PEG ratio of 35.27 and a beta of 1.92. The company has a debt-to-equity ratio of 0.44, a current ratio of 10.39 and a quick ratio of 10.31. Ionis Pharmaceuticals has a 52 week low of $53.34 and a 52 week high of $86.58.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.49. Ionis Pharmaceuticals had a return on equity of 36.31% and a net margin of 52.26%. The business had revenue of $168.00 million for the quarter, compared to analysts’ expectations of $152.47 million. During the same period in the prior year, the firm earned ($0.03) EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts predict that Ionis Pharmaceuticals will post 1.82 earnings per share for the current fiscal year.
In related news, Director Joseph Klein III sold 1,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $61.87, for a total value of $61,870.00. Following the transaction, the director now directly owns 13,683 shares in the company, valued at $846,567.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard S. Geary sold 5,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $65.06, for a total transaction of $325,300.00. Following the completion of the transaction, the senior vice president now owns 26,583 shares in the company, valued at $1,729,489.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,327 shares of company stock worth $2,534,865. Insiders own 2.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in IONS. Great Point Partners LLC bought a new stake in Ionis Pharmaceuticals during the third quarter worth approximately $16,176,000. Raymond James Trust N.A. raised its position in Ionis Pharmaceuticals by 19.4% during the third quarter. Raymond James Trust N.A. now owns 5,337 shares of the company’s stock valued at $320,000 after acquiring an additional 866 shares in the last quarter. Quest Capital Management Inc. ADV purchased a new position in Ionis Pharmaceuticals during the third quarter valued at approximately $36,000. IFM Investors Pty Ltd raised its position in Ionis Pharmaceuticals by 46.0% during the third quarter. IFM Investors Pty Ltd now owns 12,234 shares of the company’s stock valued at $733,000 after acquiring an additional 3,854 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in Ionis Pharmaceuticals by 6.2% during the second quarter. California State Teachers Retirement System now owns 209,791 shares of the company’s stock valued at $13,483,000 after acquiring an additional 12,182 shares in the last quarter. Institutional investors and hedge funds 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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