Ionis Pharmaceuticals (NASDAQ:IONS) Downgraded by BidaskClub

BidaskClub lowered shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a hold rating to a sell rating in a research note issued to investors on Saturday, BidAskClub reports.

Several other analysts have also commented on IONS. Zacks Investment Research lowered Ionis Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday. Cowen reissued a hold rating on shares of Ionis Pharmaceuticals in a report on Wednesday. Evercore ISI set a $76.00 price objective on Ionis Pharmaceuticals and gave the company a hold rating in a report on Wednesday, August 7th. Cantor Fitzgerald set a $65.00 price objective on Ionis Pharmaceuticals and gave the company a hold rating in a report on Tuesday, October 15th. Finally, Needham & Company LLC set a $87.00 price objective on Ionis Pharmaceuticals and gave the company a buy rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $76.00.

Ionis Pharmaceuticals stock traded down $0.75 during midday trading on Friday, hitting $55.79. 996,273 shares of the company were exchanged, compared to its average volume of 1,000,754. The firm has a market capitalization of $7.94 billion, a PE ratio of 17.13 and a beta of 1.95. Ionis Pharmaceuticals has a fifty-two week low of $44.60 and a fifty-two week high of $86.58. The business has a fifty day simple moving average of $61.45 and a two-hundred day simple moving average of $67.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 9.93 and a current ratio of 10.01.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.26. The firm 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%. Ionis Pharmaceuticals’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same period last year, the company earned ($0.29) earnings per share. As a group, equities analysts expect that Ionis Pharmaceuticals will post 0.25 earnings per share for the current year.

In other news, Chairman Stanley T. Crooke sold 22,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $71.52, for a total value of $1,573,440.00. Following the transaction, the chairman now owns 79,634 shares in the company, valued at $5,695,423.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IONS. Whittier Trust Co. lifted its position in shares of Ionis Pharmaceuticals by 283.0% in the second quarter. Whittier Trust Co. now owns 383 shares of the company’s stock valued at $25,000 after acquiring an additional 283 shares in the last quarter. CWM LLC lifted its position in shares of Ionis Pharmaceuticals by 361.4% in the second quarter. CWM LLC now owns 406 shares of the company’s stock valued at $26,000 after acquiring an additional 318 shares in the last quarter. Ellis Investment Partners LLC purchased a new position in shares of Ionis Pharmaceuticals in the second quarter valued at approximately $32,000. Rehmann Capital Advisory Group lifted its position in shares of Ionis Pharmaceuticals by 41.3% in the second quarter. Rehmann Capital Advisory Group now owns 592 shares of the company’s stock valued at $38,000 after acquiring an additional 173 shares in the last quarter. Finally, Advisory Services Network LLC lifted its position in shares of Ionis Pharmaceuticals by 38.5% in the second quarter. Advisory Services Network LLC now owns 907 shares of the company’s stock valued at $58,000 after acquiring an additional 252 shares in the last quarter. Institutional investors and hedge funds own 89.03% 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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

See Also: Are analyst ratings accurate?

Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

Receive News & Ratings for Ionis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.