Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) gapped down prior to trading on Wednesday . The stock had previously closed at $51.88, but opened at $55.01. Ionis Pharmaceuticals shares last traded at $53.62, with a volume of 989,257 shares traded.
IONS has been the subject of several research reports. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Monday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price target on shares of Ionis Pharmaceuticals in a research report on Wednesday, July 26th. Laidlaw reaffirmed a “buy” rating and issued a $65.00 price target on shares of Ionis Pharmaceuticals in a research report on Monday, August 14th. TheStreet raised shares of Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research report on Wednesday, July 5th. Finally, Barclays PLC initiated coverage on shares of Ionis Pharmaceuticals in a research report on Wednesday, September 6th. They issued an “equal weight” rating and a $55.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $50.04.
The stock’s 50-day moving average price is $56.66 and its 200 day moving average price is $50.96. The company has a market cap of $6.72 billion, a price-to-earnings ratio of 259.71 and a beta of 3.12.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The company had revenue of $104.15 million for the quarter, compared to analyst estimates of $93.29 million. During the same period in the previous year, the business posted ($0.47) EPS. The firm’s revenue for the quarter was up 170.7% compared to the same quarter last year. Equities research analysts expect that Ionis Pharmaceuticals, Inc. will post ($0.16) earnings per share for the current fiscal year.
In other news, SVP C Frank Bennett sold 12,250 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $65.00, for a total value of $796,250.00. Following the transaction, the senior vice president now directly owns 27,291 shares of the company’s stock, valued at approximately $1,773,915. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stanley T. Crooke sold 15,000 shares of Ionis Pharmaceuticals stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $52.00, for a total transaction of $780,000.00. Following the completion of the transaction, the chief executive officer now directly owns 43,014 shares in the company, valued at $2,236,728. The disclosure for this sale can be found here. Insiders sold a total of 97,636 shares of company stock worth $5,665,565 over the last ninety days. Corporate insiders own 2.13% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. First Trust Advisors LP increased its holdings in shares of Ionis Pharmaceuticals by 40.2% in the 3rd quarter. First Trust Advisors LP now owns 982,344 shares of the company’s stock valued at $49,805,000 after acquiring an additional 281,733 shares during the period. Boston Advisors LLC increased its holdings in shares of Ionis Pharmaceuticals by 15.4% in the 3rd quarter. Boston Advisors LLC now owns 6,875 shares of the company’s stock valued at $349,000 after acquiring an additional 915 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Ionis Pharmaceuticals in the 3rd quarter valued at $294,000. Intl Fcstone Inc. acquired a new position in shares of Ionis Pharmaceuticals in the 2nd quarter valued at $598,000. Finally, WFG Advisors LP increased its holdings in shares of Ionis Pharmaceuticals by 77.2% in the 2nd quarter. WFG Advisors LP now owns 3,800 shares of the company’s stock valued at $193,000 after acquiring an additional 1,655 shares during the period. 89.21% of the stock is currently owned by institutional investors and hedge funds.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.