Ionis Pharmaceuticals (NASDAQ:IONS - Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $45.00 to $48.00 in a research report released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.
IONS has been the subject of several other research reports. BMO Capital Markets decreased their price objective on Ionis Pharmaceuticals from $60.00 to $45.00 and set a "market perform" rating for the company in a report on Thursday, February 20th. HC Wainwright reissued a "buy" rating and set a $50.00 price target on shares of Ionis Pharmaceuticals in a research report on Tuesday, May 20th. Citigroup decreased their price target on Ionis Pharmaceuticals from $67.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Needham & Company LLC dropped their price objective on Ionis Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, Redburn Atlantic assumed coverage on Ionis Pharmaceuticals in a report on Monday, March 31st. They issued a "neutral" rating and a $39.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $56.83.
Read Our Latest Research Report on IONS
Ionis Pharmaceuticals Stock Down 1.6%
NASDAQ:IONS traded down $0.57 during trading hours on Thursday, reaching $35.62. 1,683,349 shares of the stock were exchanged, compared to its average volume of 1,585,825. Ionis Pharmaceuticals has a twelve month low of $23.95 and a twelve month high of $52.34. The company has a debt-to-equity ratio of 2.12, a current ratio of 8.47 and a quick ratio of 8.82. The firm has a 50 day moving average of $31.74 and a 200 day moving average of $32.91. The stock has a market cap of $5.67 billion, a PE ratio of -11.72 and a beta of 0.18.
Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.93) EPS for the quarter, topping analysts' consensus estimates of ($1.07) by $0.14. The business had revenue of $132.00 million for the quarter, compared to analyst estimates of $144.31 million. Ionis Pharmaceuticals had a negative net margin of 64.25% and a negative return on equity of 100.05%. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.98) earnings per share. On average, equities analysts expect that Ionis Pharmaceuticals will post -3.5 earnings per share for the current year.
Insider Activity at Ionis Pharmaceuticals
In other news, Director Michael R. Hayden acquired 15,000 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were purchased at an average cost of $31.86 per share, with a total value of $477,900.00. Following the acquisition, the director now directly owns 50,219 shares in the company, valued at $1,599,977.34. This represents a 42.59% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 2.71% of the stock is owned by company insiders.
Hedge Funds Weigh In On Ionis Pharmaceuticals
Hedge funds have recently bought and sold shares of the business. Capital World Investors raised its stake in Ionis Pharmaceuticals by 46.5% in the fourth quarter. Capital World Investors now owns 11,465,413 shares of the company's stock valued at $400,831,000 after purchasing an additional 3,637,041 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in Ionis Pharmaceuticals by 14.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,175,533 shares of the company's stock valued at $488,016,000 after acquiring an additional 2,006,334 shares during the period. BVF Inc. IL bought a new position in Ionis Pharmaceuticals during the 1st quarter worth $57,727,000. Norges Bank bought a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth about $59,948,000. Finally, Vanguard Group Inc. lifted its position in shares of Ionis Pharmaceuticals by 9.4% in the 4th quarter. Vanguard Group Inc. now owns 16,472,539 shares of the company's stock worth $575,880,000 after purchasing an additional 1,416,781 shares during the period. 93.86% of the stock is owned by institutional investors.
Ionis Pharmaceuticals Company Profile
(
Get Free Report)
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.
See Also
Before you consider Ionis Pharmaceuticals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ionis Pharmaceuticals wasn't on the list.
While Ionis Pharmaceuticals currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
