Ionis Pharmaceuticals (NASDAQ:IONS) had its price objective decreased by Needham & Company LLC from $95.00 to $86.00 in a report released on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price target would suggest a potential upside of 54.57% from the stock's current price.
Several other research analysts have also issued reports on IONS. Morgan Stanley dropped their price target on shares of Ionis Pharmaceuticals from $50.00 to $43.00 and set an "underweight" rating for the company in a research report on Tuesday. Piper Sandler dropped their price target on shares of Ionis Pharmaceuticals from $55.00 to $45.00 and set a "neutral" rating for the company in a research report on Monday. UBS Group reaffirmed a "sell" rating and set a $33.00 price objective on shares of Ionis Pharmaceuticals in a report on Tuesday, March 16th. Cowen raised shares of Ionis Pharmaceuticals from a "market perform" rating to an "outperform" rating in a report on Tuesday, December 15th. Finally, SVB Leerink dropped their price objective on shares of Ionis Pharmaceuticals from $50.00 to $36.00 and set a "market perform" rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of "Hold" and a consensus target price of $56.10.
NASDAQ:IONS opened at $55.64 on Tuesday. Ionis Pharmaceuticals has a 12-month low of $39.32 and a 12-month high of $64.37. The company has a quick ratio of 10.28, a current ratio of 10.37 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $7.84 billion, a PE ratio of 115.92 and a beta of 1.42. The firm has a 50-day moving average price of $55.72 and a 200 day moving average price of $53.17.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, February 24th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.24 by ($2.68). Ionis Pharmaceuticals had a return on equity of 6.57% and a net margin of 7.82%. On average, research analysts expect that Ionis Pharmaceuticals will post -0.53 EPS for the current year.
In other news, Chairman Stanley T. Crooke sold 35,000 shares of Ionis Pharmaceuticals stock in a transaction on Thursday, January 21st. The shares were sold at an average price of $61.20, for a total transaction of $2,142,000.00. Following the transaction, the chairman now directly owns 30,354 shares of the company's stock, valued at $1,857,664.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Stanley T. Crooke sold 28,333 shares of Ionis Pharmaceuticals stock in a transaction on Tuesday, January 26th. The stock was sold at an average price of $63.74, for a total transaction of $1,805,945.42. Following the transaction, the chairman now directly owns 2,021 shares in the company, valued at $128,818.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,229 shares of company stock worth $4,918,137. Insiders own 2.40% of the company's stock.
Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Ionis Pharmaceuticals by 0.3% during the 4th quarter. FMR LLC now owns 20,938,034 shares of the company's stock worth $1,183,836,000 after purchasing an additional 71,082 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Ionis Pharmaceuticals by 22.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,114,967 shares of the company's stock worth $741,520,000 after purchasing an additional 2,382,942 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ionis Pharmaceuticals by 157.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,873,332 shares of the company's stock worth $105,918,000 after purchasing an additional 1,145,403 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Ionis Pharmaceuticals by 3.5% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 764,684 shares of the company's stock worth $43,235,000 after purchasing an additional 25,867 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Ionis Pharmaceuticals during the 4th quarter worth about $42,994,000. Institutional investors own 84.14% 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 injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.
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