Ionis Pharmaceuticals (NASDAQ:IONS) Lowered to “C” at TheStreet

TheStreet lowered shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a b- rating to a c rating in a report published on Thursday, TheStreetRatingsTable reports.

A number of other equities analysts have also weighed in on IONS. Evercore ISI set a $76.00 price target on shares of Ionis Pharmaceuticals and gave the company a hold rating in a report on Wednesday. Cantor Fitzgerald reiterated a hold rating and issued a $68.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday, April 24th. Piper Jaffray Companies set a $75.00 price target on shares of Ionis Pharmaceuticals and gave the company a hold rating in a report on Friday, May 24th. BMO Capital Markets decreased their price target on shares of Ionis Pharmaceuticals from $96.00 to $95.00 and set an outperform rating on the stock in a report on Wednesday, July 24th. Finally, ValuEngine lowered shares of Ionis Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, April 18th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $67.78.

Shares of IONS traded up $0.14 during mid-day trading on Thursday, reaching $68.44. The company had a trading volume of 945,616 shares, compared to its average volume of 1,182,144. The firm has a market capitalization of $9.50 billion, a PE ratio of 23.12 and a beta of 2.07. The company’s fifty day simple moving average is $65.43. Ionis Pharmaceuticals has a fifty-two week low of $43.27 and a fifty-two week high of $86.58. The company has a debt-to-equity ratio of 0.47, a quick ratio of 9.36 and a current ratio of 9.40.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.26. The company had revenue of $164.00 million for the quarter, compared to analyst estimates of $145.31 million. Ionis Pharmaceuticals had a net margin of 49.90% and a return on equity of 41.41%. Ionis Pharmaceuticals’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.29) EPS. On average, equities research analysts expect that Ionis Pharmaceuticals will post -0.2 EPS for the current fiscal year.

In related news, CEO Stanley T. Crooke sold 10,000 shares of Ionis Pharmaceuticals stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $70.25, for a total transaction of $702,500.00. Following the transaction, the chief executive officer now owns 79,634 shares in the company, valued at approximately $5,594,288.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Spencer R. Berthelsen sold 15,000 shares of Ionis Pharmaceuticals stock in a transaction on Monday, June 24th. The shares were sold at an average price of $63.67, for a total transaction of $955,050.00. Following the transaction, the director now owns 99,404 shares in the company, valued at approximately $6,329,052.68. The disclosure for this sale can be found here. Insiders have sold a total of 40,210 shares of company stock worth $2,650,844 in the last 90 days. Company insiders own 2.40% of the company’s stock.

Large investors have recently bought and sold shares of the stock. LPL Financial LLC grew its position in shares of Ionis Pharmaceuticals by 3.3% during the 2nd quarter. LPL Financial LLC now owns 45,854 shares of the company’s stock valued at $2,947,000 after buying an additional 1,478 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Ionis Pharmaceuticals by 5.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 616,513 shares of the company’s stock valued at $39,624,000 after purchasing an additional 33,997 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in Ionis Pharmaceuticals during the 2nd quarter valued at about $521,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Ionis Pharmaceuticals by 755.2% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,397 shares of the company’s stock valued at $1,247,000 after purchasing an additional 17,129 shares during the period. Finally, BB&T Securities LLC boosted its stake in Ionis Pharmaceuticals by 3.4% during the 2nd quarter. BB&T Securities LLC now owns 11,544 shares of the company’s stock valued at $741,000 after purchasing an additional 379 shares during the period. Institutional investors and hedge funds own 83.17% 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.

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Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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