William Blair Initiates Coverage on Ionis Pharmaceuticals (NASDAQ:IONS)

Equities researchers at William Blair initiated coverage on shares of Ionis Pharmaceuticals (NASDAQ:IONS) in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage set a “market perform” rating on the stock.

IONS has been the subject of a number of other reports. Needham & Company LLC reissued a “buy” rating and issued a $87.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday, November 7th. BMO Capital Markets reduced their price target on shares of Ionis Pharmaceuticals from $96.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. BidaskClub cut shares of Ionis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on shares of Ionis Pharmaceuticals from $57.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Evercore ISI set a $76.00 price target on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.67.

NASDAQ:IONS opened at $58.61 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 10.39 and a quick ratio of 10.31. The firm has a 50-day moving average of $57.47 and a two-hundred day moving average of $63.84. The stock has a market cap of $8.11 billion, a P/E ratio of 16.42, a PEG ratio of 2.08 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 posted its quarterly earnings data 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. The company had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $152.47 million. Ionis Pharmaceuticals had a net margin of 52.26% and a return on equity of 36.31%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) EPS. As a group, equities analysts expect that Ionis Pharmaceuticals will post 1.98 earnings per share for the current year.

In other news, Chairman Stanley T. Crooke sold 22,000 shares of the stock in a transaction dated 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 owns 79,634 shares of the company’s stock, valued at $5,695,423.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Ionis Pharmaceuticals by 1.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,084 shares of the company’s stock worth $1,040,000 after acquiring an additional 154 shares during the last quarter. Comerica Bank lifted its holdings in Ionis Pharmaceuticals by 1.1% in the second quarter. Comerica Bank now owns 15,590 shares of the company’s stock worth $1,051,000 after acquiring an additional 170 shares during the last quarter. Coastal Investment Advisors Inc. lifted its holdings in Ionis Pharmaceuticals by 1.7% in the second quarter. Coastal Investment Advisors Inc. now owns 10,023 shares of the company’s stock worth $640,000 after acquiring an additional 172 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in Ionis Pharmaceuticals by 41.3% in the second quarter. Rehmann Capital Advisory Group now owns 592 shares of the company’s stock worth $38,000 after acquiring an additional 173 shares during the last quarter. Finally, Kistler Tiffany Companies LLC lifted its holdings in Ionis Pharmaceuticals by 9.9% in the third quarter. Kistler Tiffany Companies LLC now owns 2,006 shares of the company’s stock worth $120,000 after acquiring an additional 181 shares during the last quarter. 88.41% of the stock is currently owned by institutional investors and hedge funds.

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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