BidaskClub Upgrades Ionis Pharmaceuticals (NASDAQ:IONS) to “Buy”

BidaskClub upgraded shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a hold rating to a buy rating in a report released on Saturday, BidAskClub reports.

A number of other brokerages have also commented on IONS. Oppenheimer reduced their target price on shares of Ionis Pharmaceuticals from $77.00 to $74.00 and set an outperform rating on the stock in a research report on Thursday, May 7th. ValuEngine lowered shares of Ionis Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, April 30th. William Blair reaffirmed a hold rating on shares of Ionis Pharmaceuticals in a research report on Wednesday, June 10th. Zacks Investment Research lowered shares of Ionis Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of Ionis Pharmaceuticals from $58.00 to $60.00 and gave the stock a neutral rating in a research report on Monday, March 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Ionis Pharmaceuticals presently has a consensus rating of Hold and a consensus price target of $73.13.

Ionis Pharmaceuticals stock opened at $58.96 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 9.91 and a quick ratio of 9.83. Ionis Pharmaceuticals has a 1-year low of $39.32 and a 1-year high of $73.09. The firm has a market capitalization of $8.18 billion, a P/E ratio of 53.60 and a beta of 1.68. The company’s 50-day moving average is $56.72 and its 200 day moving average is $56.41.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.23). Ionis Pharmaceuticals had a return on equity of 12.50% and a net margin of 16.79%. The firm had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $161.59 million. During the same period last year, the company earned $0.62 earnings per share. The business’s revenue for the quarter was down 55.2% compared to the same quarter last year. Research analysts anticipate that Ionis Pharmaceuticals will post -0.48 earnings per share for the current fiscal year.

In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $57.90, for a total value of $868,500.00. Following the completion of the sale, the chairman now directly owns 26,935 shares in the company, valued at $1,559,536.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Stanley T. Crooke sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $58.80, for a total transaction of $294,000.00. Following the completion of the sale, the chairman now owns 11,935 shares of the company’s stock, valued at $701,778. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,000 shares of company stock valued at $4,123,750. 2.67% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in IONS. Americana Partners LLC acquired a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth $29,000. Balentine LLC acquired a new stake in shares of Ionis Pharmaceuticals during the first quarter worth $29,000. Cornerstone Advisors Inc. lifted its stake in shares of Ionis Pharmaceuticals by 107.2% during the first quarter. Cornerstone Advisors Inc. now owns 663 shares of the company’s stock worth $31,000 after buying an additional 343 shares during the period. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth $37,000. Finally, NWK Group Inc. acquired a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth $39,000. Institutional investors own 84.02% 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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Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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