Ionis Pharmaceuticals (NASDAQ:IONS) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a sell rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

A number of other equities analysts also recently commented on IONS. Guggenheim decreased their target price on Ionis Pharmaceuticals from $89.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, September 15th. Royal Bank Of Canada dropped their price target on Ionis Pharmaceuticals from $85.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday. The Goldman Sachs Group cut their price target on shares of Ionis Pharmaceuticals from $58.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, November 10th. HC Wainwright reduced their price objective on shares of Ionis Pharmaceuticals from $100.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, November 10th. Finally, Raymond James Financial reissued an “outperform” rating and set a $54.00 price objective on shares of Ionis Pharmaceuticals in a research report on Monday, November 9th. Nineteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $75.71.

Ionis Pharmaceuticals Trading Up 6.4%

IONS traded up $1.75 during midday trading on Friday, reaching $29.06. 5,945,342 shares of the company’s stock traded hands, compared to its average volume of 4,386,260. Ionis Pharmaceuticals has a 52 week low of $27.25 and a 52 week high of $86.74. The company has a debt-to-equity ratio of 3.42, a current ratio of 5.43 and a quick ratio of 7.73. The firm has a fifty day moving average of $43.65 and a two-hundred day moving average of $64.57. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of -8.75 and a beta of 0.43.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Monday, November 9th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.23) by $0.57. The firm had revenue of $242.72 million for the quarter, compared to analyst estimates of $178.17 million. Ionis Pharmaceuticals had a negative return on equity of 120.62% and a negative net margin of 56.98%. The business’s quarterly revenue was up 54.8% compared to the same quarter last year. During the same period last year, the company earned ($0.80) EPS. On average, equities analysts anticipate that Ionis Pharmaceuticals will post -3.59 earnings per share for the current fiscal year.

Insider Activity at Ionis Pharmaceuticals

In other news, EVP Shannon L. Devers sold 1,357 shares of the firm’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $43.54, for a total value of $59,083.78. Following the completion of the transaction, the executive vice president owned 17,811 shares in the company, valued at $775,490.94. This trade represents a 7.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael R. Hayden purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were purchased at an average price of $29.64 per share, for a total transaction of $148,200.00. Following the completion of the transaction, the director directly owned 27,000 shares of the company’s stock, valued at $800,280. This represents a 22.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter valued at $27,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ionis Pharmaceuticals in the 1st quarter worth about $30,000. Root Financial Partners LLC bought a new position in shares of Ionis Pharmaceuticals in the 3rd quarter worth about $30,000. Fortitude Family Office LLC increased its stake in shares of Ionis Pharmaceuticals by 4,411.8% in the 3rd quarter. Fortitude Family Office LLC now owns 767 shares of the company’s stock worth $34,000 after acquiring an additional 750 shares in the last quarter. Finally, Allworth Financial LP bought a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Key Stories Impacting Ionis Pharmaceuticals

Investors following IONS have been watching these stories:

• Positive Sentiment: Director Michael Hayden purchased 5,000 shares for $148,200, increasing his Ionis holdings by 22.7%—an insider buy that may signal confidence in the company. SEC filing
• Positive Sentiment: Two-year DAWNZERA data presented at the ACAAI meeting supported durable efficacy and disease control for hereditary angioedema, adding clinical evidence for the drug. Wells Fargo also rated Ionis a Buy. DAWNZERA long-term data Wells Fargo rating
• Negative Sentiment: Several firms—including Morgan Stanley, Needham, HC Wainwright, Oppenheimer and Goldman Sachs—cut price expectations; a separate analyst downgrade was associated with a sharp recent decline in the shares. Artisan Partners also said its small-cap growth strategy exited Ionis following sequential Phase 3 setbacks. Morgan Stanley price target Artisan Partners exit

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals is a biotechnology company that discovers and develops RNA-targeted medicines, with a focus on antisense oligonucleotides. Its medicines are designed to act on RNA and change the production of proteins linked to disease. The company’s research and development programs span neurological, cardiovascular, metabolic and rare diseases. Ionis has developed medicines that it commercializes itself and products advanced or marketed with pharmaceutical partners. Its medicines and partnered products include treatments for conditions such as spinal muscular atrophy and transthyretin amyloidosis.