Zacks Investment Research Lowers Ionis Pharmaceuticals (IONS) to Hold

Zacks Investment Research cut shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a buy rating to a hold rating in a research note released on Saturday morning, Zacks.com reports.

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. “

A number of other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Ionis Pharmaceuticals from $47.00 to $55.00 and gave the stock a neutral rating in a report on Monday, March 18th. ValuEngine upgraded shares of Ionis Pharmaceuticals from a hold rating to a buy rating in a report on Friday, March 15th. Morgan Stanley set a $71.00 price target on shares of Ionis Pharmaceuticals and gave the stock a hold rating in a report on Friday, March 1st. Piper Jaffray Companies set a $63.00 price target on shares of Ionis Pharmaceuticals and gave the stock a hold rating in a report on Friday, March 1st. Finally, TheStreet upgraded shares of Ionis Pharmaceuticals from a c rating to a b- rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $66.33.

Shares of NASDAQ IONS opened at $83.88 on Friday. The stock has a market cap of $11.70 billion, a PE ratio of 28.34, a PEG ratio of 256.41 and a beta of 2.42. Ionis Pharmaceuticals has a 12 month low of $39.07 and a 12 month high of $86.58. The company has a quick ratio of 7.85, a current ratio of 7.88 and a debt-to-equity ratio of 0.53.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, February 27th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $2.46. The business had revenue of $192.00 million during the quarter, compared to the consensus estimate of $159.59 million. Ionis Pharmaceuticals had a net margin of 45.64% and a return on equity of 41.89%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) earnings per share. On average, research analysts predict that Ionis Pharmaceuticals will post 0.02 earnings per share for the current fiscal year.

In related news, SVP Patrick R. O’neil sold 49,528 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $83.99, for a total value of $4,159,856.72. Following the completion of the sale, the senior vice president now directly owns 27,327 shares in the company, valued at $2,295,194.73. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Richard S. Geary sold 46,240 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $84.01, for a total transaction of $3,884,622.40. Following the completion of the sale, the senior vice president now owns 45,442 shares of the company’s stock, valued at $3,817,582.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 339,205 shares of company stock valued at $24,034,607. 2.44% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank grew its holdings in Ionis Pharmaceuticals by 159.3% in the fourth quarter. Huntington National Bank now owns 638 shares of the company’s stock valued at $34,000 after purchasing an additional 392 shares during the period. Essex Savings Bank purchased a new stake in Ionis Pharmaceuticals in the fourth quarter valued at approximately $39,000. Laurel Wealth Advisors LLC purchased a new stake in Ionis Pharmaceuticals in the fourth quarter valued at approximately $43,000. Daiwa Securities Group Inc. grew its stake in Ionis Pharmaceuticals by 29.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 890 shares of the company’s stock worth $48,000 after buying an additional 200 shares during the period. Finally, Portfolio Solutions LLC purchased a new stake in Ionis Pharmaceuticals during the fourth quarter worth approximately $54,000. Hedge funds and other institutional investors own 85.05% 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.

Read More: Marijuana Stocks Future Looks Bright

Get a free copy of the Zacks research report on Ionis Pharmaceuticals (IONS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

Receive News & Ratings for Ionis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.