Ionis Pharmaceuticals (NASDAQ:IONS) Upgraded at Barclays

Barclays upgraded shares of Ionis Pharmaceuticals (NASDAQ:IONS - Free Report) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday morning, MarketBeat reports. They currently have $57.00 price objective on the stock, up from their previous price objective of $51.00.

A number of other equities analysts have also recently weighed in on IONS. JPMorgan Chase & Co. upped their price target on Ionis Pharmaceuticals from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Needham & Company LLC decreased their price objective on shares of Ionis Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Guggenheim dropped their target price on Ionis Pharmaceuticals from $65.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. HC Wainwright reissued a "buy" rating and issued a $50.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, June 26th. Finally, Redburn Atlantic assumed coverage on Ionis Pharmaceuticals in a research note on Monday, March 31st. They set a "neutral" rating and a $39.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.25.

Ionis Pharmaceuticals Trading Up 9.1%

IONS stock traded up $3.65 during midday trading on Tuesday, reaching $43.59. 4,232,741 shares of the company's stock traded hands, compared to its average volume of 1,600,043. The company has a debt-to-equity ratio of 2.63, a current ratio of 9.66 and a quick ratio of 9.62. Ionis Pharmaceuticals has a fifty-two week low of $23.95 and a fifty-two week high of $52.34. The business has a 50-day moving average price of $34.70 and a two-hundred day moving average price of $33.07. The company has a market capitalization of $6.94 billion, a P/E ratio of -14.58 and a beta of 0.23.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.93) earnings per share for the quarter, topping analysts' consensus estimates of ($1.07) by $0.14. Ionis Pharmaceuticals had a negative net margin of 63.65% and a negative return on equity of 91.85%. The firm had revenue of $132.00 million during the quarter, compared to analysts' expectations of $144.31 million. During the same period in the prior year, the company earned ($0.98) EPS. The firm's revenue was up 10.9% on a year-over-year basis. Equities research analysts forecast that Ionis Pharmaceuticals will post -3.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael R. Hayden purchased 15,000 shares of Ionis Pharmaceuticals stock in a transaction dated Thursday, May 1st. The stock was bought at an average cost of $31.86 per share, with a total value of $477,900.00. Following the purchase, the director owned 50,219 shares in the company, valued at approximately $1,599,977.34. The trade was a 42.59% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Several large investors have recently made changes to their positions in IONS. Signaturefd LLC lifted its stake in Ionis Pharmaceuticals by 160.0% during the fourth quarter. Signaturefd LLC now owns 949 shares of the company's stock valued at $33,000 after purchasing an additional 584 shares during the last quarter. Huntington National Bank grew its position in Ionis Pharmaceuticals by 193.5% in the fourth quarter. Huntington National Bank now owns 951 shares of the company's stock worth $33,000 after buying an additional 627 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Ionis Pharmaceuticals by 183.8% in the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock valued at $36,000 after buying an additional 671 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Ionis Pharmaceuticals during the 1st quarter valued at $60,000. Finally, Raiffeisen Bank International AG bought a new stake in shares of Ionis Pharmaceuticals during the 4th quarter worth $62,000. Institutional investors own 93.86% of the company's stock.

Ionis Pharmaceuticals Company Profile

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; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.