Ionis Pharmaceuticals (NASDAQ:IONS) Given New $70.00 Price Target at Piper Jaffray Companies

Ionis Pharmaceuticals (NASDAQ:IONS) had its price target reduced by Piper Jaffray Companies from $75.00 to $70.00 in a research note released on Thursday, The Fly reports. They currently have a neutral rating on the stock. Piper Jaffray Companies also issued estimates for Ionis Pharmaceuticals’ Q3 2020 earnings at $0.05 EPS, Q1 2021 earnings at $0.35 EPS, Q2 2021 earnings at $0.40 EPS and Q3 2021 earnings at $0.40 EPS.

IONS has been the topic of a number of other reports. Cowen restated a hold rating on shares of Ionis Pharmaceuticals in a report on Thursday. BMO Capital Markets lowered their target price on shares of Ionis Pharmaceuticals from $96.00 to $95.00 and set an outperform rating on the stock in a report on Wednesday, July 24th. Morgan Stanley downgraded shares of Ionis Pharmaceuticals from an equal rating to a weight rating and lowered their target price for the stock from $63.00 to $48.00 in a report on Thursday. Evercore ISI set a $76.00 target price on shares of Ionis Pharmaceuticals and gave the stock a hold rating in a report on Wednesday, August 7th. Finally, BidaskClub downgraded shares of Ionis Pharmaceuticals from a sell rating to a strong sell rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Ionis Pharmaceuticals has a consensus rating of Hold and an average target price of $73.45.

Shares of NASDAQ:IONS traded up $1.71 during trading on Thursday, hitting $57.06. 925,100 shares of the company’s stock were exchanged, compared to its average volume of 1,150,599. The firm has a 50-day moving average price of $57.99 and a two-hundred day moving average price of $64.32. The company has a current ratio of 10.01, a quick ratio of 9.93 and a debt-to-equity ratio of 0.45. The firm has a market cap of $7.64 billion, a P/E ratio of 19.28, a PEG ratio of 15.24 and a beta of 1.90. Ionis Pharmaceuticals has a 1-year low of $48.27 and a 1-year high of $86.58.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.49. The business had revenue of $168.00 million for the quarter, compared to analyst estimates of $152.47 million. Ionis Pharmaceuticals had a net margin of 49.90% and a return on equity of 38.70%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. As a group, research analysts predict that Ionis Pharmaceuticals will post 0.25 EPS for the current year.

In related news, Chairman Stanley T. Crooke sold 22,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $71.52, for a total transaction of $1,573,440.00. Following the transaction, the chairman now directly owns 79,634 shares in the company, valued at $5,695,423.68. The sale was disclosed in a filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of IONS. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Ionis Pharmaceuticals by 1.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,084 shares of the company’s stock valued at $1,040,000 after purchasing an additional 154 shares during the last quarter. Comerica Bank increased its holdings in shares of Ionis Pharmaceuticals by 1.1% in the second quarter. Comerica Bank now owns 15,590 shares of the company’s stock valued at $1,051,000 after purchasing an additional 170 shares during the last quarter. Coastal Investment Advisors Inc. increased its holdings in shares of Ionis Pharmaceuticals by 1.7% in the second quarter. Coastal Investment Advisors Inc. now owns 10,023 shares of the company’s stock valued at $640,000 after purchasing an additional 172 shares during the last quarter. Rehmann Capital Advisory Group grew its stake 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, Kistler Tiffany Companies LLC grew its stake in shares of Ionis Pharmaceuticals by 9.9% in the third quarter. Kistler Tiffany Companies LLC now owns 2,006 shares of the company’s stock valued at $120,000 after acquiring an additional 181 shares in the last quarter. Institutional investors and hedge funds own 88.89% 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.

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Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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