Ionis Pharmaceuticals (IONS) PT Set at $50.00 by Piper Jaffray Companies

Ionis Pharmaceuticals (NASDAQ:IONS) has been given a $50.00 price target by equities research analysts at Piper Jaffray Companies in a note issued to investors on Monday. The firm presently has a “hold” rating on the stock. Piper Jaffray Companies’ price objective suggests a potential downside of 2.95% from the stock’s current price.

A number of other research firms have also issued reports on IONS. Stifel Nicolaus lowered their target price on Ionis Pharmaceuticals from $47.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, August 28th. ValuEngine raised Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Zacks Investment Research lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Morgan Stanley decreased their price objective on Ionis Pharmaceuticals from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 28th. Finally, Barclays lowered Ionis Pharmaceuticals from an “equal weight” rating to an “underweight” rating and set a $52.00 price objective on the stock. in a report on Wednesday, June 20th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $52.33.

IONS opened at $51.52 on Monday. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 644.00 and a beta of 2.62. The company has a current ratio of 8.38, a quick ratio of 8.34 and a debt-to-equity ratio of 0.76. Ionis Pharmaceuticals has a 12-month low of $39.07 and a 12-month high of $65.51.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Tuesday, August 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.20). The business had revenue of $117.75 million during the quarter, compared to analyst estimates of $128.22 million. Ionis Pharmaceuticals had a negative net margin of 7.20% and a negative return on equity of 1.22%. research analysts expect that Ionis Pharmaceuticals will post -0.38 EPS for the current fiscal year.

In other news, SVP C Frank Bennett sold 12,500 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $45.00, for a total transaction of $562,500.00. Following the sale, the senior vice president now owns 19,409 shares of the company’s stock, valued at approximately $873,405. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brett P. Monia sold 16,493 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $54.00, for a total value of $890,622.00. Following the sale, the chief operating officer now directly owns 24,834 shares in the company, valued at approximately $1,341,036. The disclosure for this sale can be found here. Insiders have sold a total of 29,149 shares of company stock worth $1,460,459 in the last three months. 2.44% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in IONS. Baillie Gifford & Co. boosted its stake in Ionis Pharmaceuticals by 48.2% in the 2nd quarter. Baillie Gifford & Co. now owns 9,279,730 shares of the company’s stock valued at $386,687,000 after buying an additional 3,017,079 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in Ionis Pharmaceuticals by 2,960.4% in the 1st quarter. Summit Trail Advisors LLC now owns 523,108 shares of the company’s stock valued at $523,000 after buying an additional 506,015 shares in the last quarter. First Light Asset Management LLC boosted its stake in Ionis Pharmaceuticals by 1,064.2% in the 2nd quarter. First Light Asset Management LLC now owns 494,347 shares of the company’s stock valued at $20,599,000 after buying an additional 451,883 shares in the last quarter. Peregrine Capital Management LLC acquired a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at $13,616,000. Finally, Motley Fool Wealth Management LLC boosted its stake in Ionis Pharmaceuticals by 62.7% in the 2nd quarter. Motley Fool Wealth Management LLC now owns 535,296 shares of the company’s stock valued at $22,306,000 after buying an additional 206,322 shares in the last quarter. 85.55% of the stock is currently owned by institutional investors.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.

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Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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