Ionis Pharmaceuticals (IONS) PT Set at $46.00 by Morgan Stanley

Morgan Stanley set a $46.00 price target on Ionis Pharmaceuticals (NASDAQ:IONS) in a report issued on Wednesday. The firm currently has a hold rating on the stock.

Several other equities research analysts also recently weighed in on IONS. ValuEngine upgraded Ionis Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, November 1st. Piper Jaffray Companies set a $50.00 price objective on Ionis Pharmaceuticals and gave the company a hold rating in a report on Tuesday. Stifel Nicolaus increased their price objective on Ionis Pharmaceuticals from $45.00 to $48.00 and gave the company a hold rating in a report on Tuesday, September 25th. Finally, Zacks Investment Research downgraded Ionis Pharmaceuticals from a strong-buy rating to a hold rating in a report on Tuesday, July 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Ionis Pharmaceuticals presently has a consensus rating of Hold and an average price target of $54.00.

NASDAQ IONS traded down $1.53 during trading hours on Wednesday, hitting $52.79. 62,375 shares of the company were exchanged, compared to its average volume of 1,095,447. The company has a debt-to-equity ratio of 0.76, a current ratio of 8.38 and a quick ratio of 8.34. Ionis Pharmaceuticals has a 52-week low of $39.07 and a 52-week high of $57.92. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 658.44 and a beta of 2.39.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.10. Ionis Pharmaceuticals had a negative return on equity of 1.80% and a negative net margin of 7.52%. The company had revenue of $145.40 million for the quarter, compared to the consensus estimate of $146.77 million. During the same quarter in the prior year, the business earned ($0.02) EPS. Ionis Pharmaceuticals’s revenue was up 22.9% on a year-over-year basis. Equities research analysts anticipate that Ionis Pharmaceuticals will post -0.15 earnings per share for the current fiscal year.

In other news, COO Brett P. Monia sold 16,493 shares of the stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $54.00, for a total value of $890,622.00. Following the transaction, the chief operating officer now owns 24,834 shares in the company, valued at approximately $1,341,036. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP C Frank Bennett sold 12,500 shares of the stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $49.54, for a total value of $619,250.00. Following the completion of the transaction, the senior vice president now owns 31,896 shares in the company, valued at approximately $1,580,127.84. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IONS. United Services Automobile Association boosted its position in shares of Ionis Pharmaceuticals by 5.9% in the 2nd quarter. United Services Automobile Association now owns 20,290 shares of the company’s stock valued at $845,000 after purchasing an additional 1,125 shares during the period. BTG Pactual Global Asset Management Ltd boosted its position in shares of Ionis Pharmaceuticals by 4.3% in the 2nd quarter. BTG Pactual Global Asset Management Ltd now owns 29,898 shares of the company’s stock valued at $1,246,000 after purchasing an additional 1,236 shares during the period. Bank of Montreal Can boosted its position in shares of Ionis Pharmaceuticals by 7.3% in the 2nd quarter. Bank of Montreal Can now owns 18,950 shares of the company’s stock valued at $789,000 after purchasing an additional 1,288 shares during the period. Motley Fool Wealth Management LLC boosted its position in shares of Ionis Pharmaceuticals by 0.3% in the 3rd quarter. Motley Fool Wealth Management LLC now owns 536,670 shares of the company’s stock valued at $27,681,000 after purchasing an additional 1,374 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Ionis Pharmaceuticals by 4.0% in the 1st quarter. Principal Financial Group Inc. now owns 38,277 shares of the company’s stock valued at $1,687,000 after purchasing an additional 1,479 shares during the period. Institutional investors and hedge funds own 86.35% 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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