Brokerages Set Ionis Pharmaceuticals Inc (NASDAQ:IONS) Price Target at $74.00

Shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) have received an average recommendation of “Hold” from the twenty brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $74.00.

Several equities research analysts have recently commented on IONS shares. Benchmark started coverage on Ionis Pharmaceuticals in a report on Wednesday, September 2nd. They set a “hold” rating for the company. Royal Bank of Canada upped their target price on Ionis Pharmaceuticals from $71.00 to $73.00 in a report on Tuesday, September 1st. William Blair reissued a “hold” rating on shares of Ionis Pharmaceuticals in a research report on Wednesday, August 5th. Morgan Stanley dropped their price target on Ionis Pharmaceuticals from $56.00 to $54.00 and set an “underweight” rating on the stock in a research report on Thursday, August 6th. Finally, Citigroup dropped their price target on Ionis Pharmaceuticals from $74.00 to $78.00 in a research report on Tuesday, September 8th.

Shares of NASDAQ IONS traded down $0.13 during mid-day trading on Wednesday, hitting $52.80. 485 shares of the company traded hands, compared to its average volume of 859,623. Ionis Pharmaceuticals has a 1 year low of $39.32 and a 1 year high of $66.25. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 60.15 and a beta of 1.52. The company has a quick ratio of 10.84, a current ratio of 10.94 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average of $54.65 and a two-hundred day moving average of $54.89.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Wednesday, August 5th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.05. Ionis Pharmaceuticals had a return on equity of 10.27% and a net margin of 13.81%. The business had revenue of $146.00 million during the quarter, compared to the consensus estimate of $148.87 million. During the same period in the prior year, the business posted ($0.01) earnings per share. Ionis Pharmaceuticals’s revenue was down 11.0% compared to the same quarter last year. As a group, research analysts anticipate that Ionis Pharmaceuticals will post -0.57 EPS for the current year.

In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 10,000 shares of the company’s stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $58.33, for a total value of $583,300.00. Following the transaction, the chairman now directly owns 26,935 shares of the company’s stock, valued at approximately $1,571,118.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Stanley T. Crooke sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $58.80, for a total value of $294,000.00. Following the completion of the transaction, 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 sold 55,314 shares of company stock worth $3,272,112. Insiders own 2.67% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Ionis Pharmaceuticals by 23.9% in the 2nd quarter. Principal Financial Group Inc. now owns 45,475 shares of the company’s stock worth $2,681,000 after purchasing an additional 8,773 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Ionis Pharmaceuticals by 11.6% in the second quarter. Toronto Dominion Bank now owns 20,346 shares of the company’s stock valued at $1,200,000 after purchasing an additional 2,111 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Ionis Pharmaceuticals in the second quarter valued at about $1,315,000. Charles Schwab Investment Management Inc. increased its position in shares of Ionis Pharmaceuticals by 0.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 616,469 shares of the company’s stock valued at $36,348,000 after acquiring an additional 5,770 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Ionis Pharmaceuticals by 9.7% in the second quarter. California State Teachers Retirement System now owns 243,599 shares of the company’s stock valued at $14,363,000 after acquiring an additional 21,452 shares during the last quarter. 85.39% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Outperform Rating

Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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