Ionis Pharmaceuticals (NASDAQ:IONS) Stock Rating Reaffirmed by Needham & Company LLC

Ionis Pharmaceuticals (NASDAQ:IONS)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a report released on Thursday, AnalystRatings.com reports. They presently have a $87.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 52.47% from the company’s previous close.

IONS has been the subject of a number of other reports. ValuEngine raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. BidaskClub cut shares of Ionis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 5th. Morgan Stanley cut shares of Ionis Pharmaceuticals from an “equal” rating to a “weight” rating and reduced their price target for the company from $63.00 to $48.00 in a research report on Thursday. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Sanford C. Bernstein raised shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $73.45.

IONS stock traded up $1.71 during mid-day trading on Thursday, reaching $57.06. The company’s stock had a trading volume of 925,100 shares, compared to its average volume of 1,150,599. Ionis Pharmaceuticals has a fifty-two week low of $48.27 and a fifty-two week high of $86.58. The stock has a market cap of $7.64 billion, a PE ratio of 19.28, a P/E/G ratio of 15.24 and a beta of 1.90. 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 company’s 50 day moving average is $57.99 and its two-hundred day moving average is $64.32.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.49. Ionis Pharmaceuticals had a net margin of 49.90% and a return on equity of 38.70%. The firm had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $152.47 million. During the same period in the previous year, the company earned ($0.03) earnings per share. Ionis Pharmaceuticals’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, analysts forecast that Ionis Pharmaceuticals will post 0.25 earnings per share for the current fiscal year.

In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 22,000 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $71.52, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Ionis Pharmaceuticals in the third quarter worth about $125,000. Creative Planning increased its position in Ionis Pharmaceuticals by 2.4% during the third quarter. Creative Planning now owns 23,285 shares of the company’s stock worth $1,395,000 after acquiring an additional 552 shares during the period. IFM Investors Pty Ltd increased its position in Ionis Pharmaceuticals by 46.0% during the third quarter. IFM Investors Pty Ltd now owns 12,234 shares of the company’s stock worth $733,000 after acquiring an additional 3,854 shares during the period. California Public Employees Retirement System increased its position in Ionis Pharmaceuticals by 34.1% during the third quarter. California Public Employees Retirement System now owns 291,371 shares of the company’s stock worth $17,456,000 after acquiring an additional 74,015 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Ionis Pharmaceuticals by 7.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 865,463 shares of the company’s stock worth $51,850,000 after acquiring an additional 60,363 shares during the period. Institutional investors 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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