Ionis Pharmaceuticals (NASDAQ:IONS) has been given a $65.00 target price by Cantor Fitzgerald in a note issued to investors on Tuesday, TipRanks reports. The brokerage presently has a “hold” rating on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 13.42% from the stock’s current price.
Several other equities research analysts have also commented on the company. Morgan Stanley decreased their price target on Ionis Pharmaceuticals from $68.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. Sanford C. Bernstein raised Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Tuesday, September 10th. ValuEngine lowered Ionis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. TheStreet downgraded Ionis Pharmaceuticals from a “b-” rating to a “c” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Co lifted their price objective on Ionis Pharmaceuticals from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $76.00.
Shares of NASDAQ:IONS traded down $0.31 during trading on Tuesday, hitting $57.31. 52,398 shares of the stock were exchanged, compared to its average volume of 856,533. The company has a fifty day moving average price of $61.81 and a two-hundred day moving average price of $67.37. The company has a market cap of $8.79 billion, a PE ratio of 19.04 and a beta of 1.95. The company has a current ratio of 10.01, a quick ratio of 9.93 and a debt-to-equity ratio of 0.45. Ionis Pharmaceuticals has a 12-month low of $44.60 and a 12-month high of $86.58.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.26. The business had revenue of $164.00 million for the quarter, compared to analyst estimates of $145.31 million. Ionis Pharmaceuticals had a return on equity of 38.70% and a net margin of 49.90%. The company’s quarterly revenue was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.29) EPS. Equities research analysts anticipate that Ionis Pharmaceuticals will post -0.04 earnings per share for the current fiscal year.
In related news, Chairman Stanley T. Crooke sold 22,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $71.52, for a total transaction of $1,573,440.00. Following the completion of the transaction, the chairman now directly owns 79,634 shares in the company, valued at approximately $5,695,423.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.40% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Whittier Trust Co. raised its position in shares of Ionis Pharmaceuticals by 283.0% during the 2nd quarter. Whittier Trust Co. now owns 383 shares of the company’s stock worth $25,000 after purchasing an additional 283 shares during the last quarter. CWM LLC raised its holdings in Ionis Pharmaceuticals by 361.4% in the 2nd quarter. CWM LLC now owns 406 shares of the company’s stock valued at $26,000 after acquiring an additional 318 shares during the last quarter. Ellis Investment Partners LLC acquired a new position in Ionis Pharmaceuticals in the 2nd quarter valued at $32,000. Rehmann Capital Advisory Group raised its holdings in Ionis Pharmaceuticals by 41.3% in the 2nd quarter. Rehmann Capital Advisory Group now owns 592 shares of the company’s stock valued at $38,000 after acquiring an additional 173 shares during the last quarter. Finally, Advisory Services Network LLC raised its holdings in Ionis Pharmaceuticals by 38.5% in the 2nd quarter. Advisory Services Network LLC now owns 907 shares of the company’s stock valued at $58,000 after acquiring an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 89.03% 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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
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