Zacks Investment Research Downgrades Ionis Pharmaceuticals (IONS) to Sell

Zacks Investment Research downgraded shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a hold rating to a sell rating in a report issued on Thursday morning.

According to Zacks, “Ionis Pharmaceuticals, Inc. is a RNA-targeted drug discovery and development company which focuses on developing drugs for severe and rare diseases. Ionis Pharmaceuticals, Inc., formerly known as Isis Pharmaceuticals, Inc., is headquartered in Carlsbad, California. “

Other research analysts have also issued research reports about the stock. Morgan Stanley lowered their price target on shares of Ionis Pharmaceuticals to $52.00 and set an equal weight rating for the company in a report on Monday, May 7th. Stifel Nicolaus lowered their price target on shares of Ionis Pharmaceuticals to $57.00 and set a hold rating for the company in a report on Monday, May 7th. Piper Jaffray Companies initiated coverage on shares of Ionis Pharmaceuticals in a report on Wednesday, May 30th. They set a hold rating and a $50.00 price target for the company. ValuEngine upgraded shares of Ionis Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 23rd. Finally, BidaskClub upgraded shares of Ionis Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, April 12th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Ionis Pharmaceuticals currently has a consensus rating of Hold and a consensus target price of $55.00.

Ionis Pharmaceuticals stock opened at $48.70 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 8.38 and a quick ratio of 5.33. Ionis Pharmaceuticals has a 52-week low of $39.07 and a 52-week high of $65.51. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 608.75 and a beta of 2.66.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Tuesday, August 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.20). Ionis Pharmaceuticals had a negative return on equity of 1.22% and a negative net margin of 7.20%. The firm had revenue of $117.75 million for the quarter, compared to the consensus estimate of $128.22 million. analysts forecast that Ionis Pharmaceuticals will post -0.31 earnings per share for the current year.

In other news, Director Spencer R. Berthelsen sold 15,000 shares of Ionis Pharmaceuticals stock in a transaction on Monday, June 25th. The shares were sold at an average price of $42.30, for a total value of $634,500.00. Following the completion of the sale, the director now owns 97,127 shares in the company, valued at approximately $4,108,472.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP C Frank Bennett sold 12,500 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $45.00, for a total transaction of $562,500.00. Following the completion of the sale, the senior vice president now owns 19,409 shares of the company’s stock, valued at approximately $873,405. The disclosure for this sale can be found here. Insiders sold a total of 42,656 shares of company stock valued at $1,901,087 in the last quarter. 2.13% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd grew its position in Ionis Pharmaceuticals by 255.8% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,498 shares of the company’s stock valued at $110,000 after purchasing an additional 1,796 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at $156,000. TLP Group LLC grew its position in Ionis Pharmaceuticals by 5,220.0% in the 1st quarter. TLP Group LLC now owns 4,522 shares of the company’s stock valued at $199,000 after purchasing an additional 4,437 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at $212,000. Finally, Mizuho Securities USA LLC acquired a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at $263,000. Institutional investors own 94.12% of the company’s stock.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.

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