Ionis Pharmaceuticals (NASDAQ:IONS) PT Raised to $59.00

Ionis Pharmaceuticals (NASDAQ:IONS) had its price target lifted by TD Cowen from $54.00 to $59.00 in a research report released on Tuesday morning, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer increased their target price on shares of Ionis Pharmaceuticals from $72.00 to $75.00 and gave the stock an outperform rating in a research report on Tuesday, April 9th. Jefferies Financial Group began coverage on Ionis Pharmaceuticals in a report on Tuesday, July 16th. They set a buy rating and a $75.00 price target for the company. Wells Fargo & Company dropped their target price on shares of Ionis Pharmaceuticals from $85.00 to $82.00 and set an overweight rating for the company in a research note on Wednesday, May 8th. Bank of America increased their price target on shares of Ionis Pharmaceuticals from $67.00 to $68.00 and gave the company a buy rating in a research note on Tuesday. Finally, Stifel Nicolaus boosted their price objective on shares of Ionis Pharmaceuticals from $50.00 to $53.00 and gave the stock a hold rating in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $60.18.

Ionis Pharmaceuticals Stock Performance

Shares of NASDAQ IONS opened at $51.45 on Tuesday. Ionis Pharmaceuticals has a one year low of $35.95 and a one year high of $54.44. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of -19.27 and a beta of 0.40. The company has a current ratio of 7.37, a quick ratio of 7.28 and a debt-to-equity ratio of 4.15. The business has a fifty day simple moving average of $43.25 and a 200 day simple moving average of $44.55.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.12. The company had revenue of $119.00 million for the quarter, compared to analyst estimates of $131.42 million. Ionis Pharmaceuticals had a negative return on equity of 107.64% and a negative net margin of 49.49%. The company’s revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.87) EPS. Sell-side analysts expect that Ionis Pharmaceuticals will post -3.96 EPS for the current year.

Insiders Place Their Bets

In other news, Director Joseph Klein III sold 6,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $42.71, for a total value of $256,260.00. Following the completion of the sale, the director now directly owns 16,346 shares of the company’s stock, valued at approximately $698,137.66. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Large investors have recently bought and sold shares of the company. BLB&B Advisors LLC boosted its position in shares of Ionis Pharmaceuticals by 5.2% during the second quarter. BLB&B Advisors LLC now owns 153,750 shares of the company’s stock worth $7,328,000 after purchasing an additional 7,650 shares in the last quarter. Checchi Capital Advisers LLC bought a new position in Ionis Pharmaceuticals during the second quarter worth about $202,000. Mitchell & Pahl Private Wealth LLC acquired a new position in Ionis Pharmaceuticals in the second quarter valued at about $216,000. Mather Group LLC. increased its holdings in shares of Ionis Pharmaceuticals by 35.8% in the second quarter. Mather Group LLC. now owns 911 shares of the company’s stock worth $39,000 after acquiring an additional 240 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Ionis Pharmaceuticals by 2.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 93,807 shares of the company’s stock worth $4,162,000 after purchasing an additional 2,193 shares during the period. Institutional investors own 93.86% of the company’s stock.

About Ionis Pharmaceuticals

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.