Ionis Pharmaceuticals (NASDAQ:IONS) Earns “Reduce” Rating from UBS Group

UBS Group reissued their reduce rating on shares of Ionis Pharmaceuticals (NASDAQ:IONS) in a report published on Monday morning, The Fly reports.

A number of other analysts have also commented on the company. Piper Sandler decreased their price objective on Ionis Pharmaceuticals from $55.00 to $45.00 and set a neutral rating on the stock in a research note on Monday, March 22nd. TheStreet lowered Ionis Pharmaceuticals from a c rating to a d+ rating in a research note on Wednesday, February 24th. Morgan Stanley decreased their price objective on Ionis Pharmaceuticals from $50.00 to $43.00 and set an underweight rating on the stock in a research note on Monday, March 29th. Royal Bank of Canada decreased their price objective on Ionis Pharmaceuticals from $76.00 to $65.00 and set an outperform rating on the stock in a research note on Tuesday, March 23rd. Finally, BMO Capital Markets decreased their price objective on Ionis Pharmaceuticals from $90.00 to $76.00 and set an outperform rating on the stock in a research note on Monday, March 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $57.91.

Shares of IONS stock opened at $43.65 on Monday. Ionis Pharmaceuticals has a fifty-two week low of $41.42 and a fifty-two week high of $64.37. The stock has a market cap of $6.15 billion, a P/E ratio of 90.94 and a beta of 1.42. The business has a fifty day simple moving average of $51.27 and a 200-day simple moving average of $52.53. The company has a quick ratio of 10.28, a current ratio of 10.37 and a debt-to-equity ratio of 0.51.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Wednesday, February 24th. The company reported ($2.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($2.68). Ionis Pharmaceuticals had a net margin of 7.82% and a return on equity of 6.57%. The firm had revenue of $290.00 million during the quarter, compared to analysts’ expectations of $265.93 million. On average, sell-side analysts anticipate that Ionis Pharmaceuticals will post -0.53 earnings per share for the current year.

In other news, EVP Patrick R. O’neil sold 5,324 shares of Ionis Pharmaceuticals stock in a transaction dated Monday, January 25th. The stock was sold at an average price of $63.50, for a total value of $338,074.00. Following the transaction, the executive vice president now directly owns 26,502 shares of the company’s stock, valued at approximately $1,682,877. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Stanley T. Crooke sold 28,333 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, January 26th. The shares were sold at an average price of $63.74, for a total value of $1,805,945.42. Following the completion of the transaction, the chairman now directly owns 2,021 shares in the company, valued at $128,818.54. The disclosure for this sale can be found here. Insiders sold a total of 69,034 shares of company stock worth $4,307,219 over the last ninety days. Corporate 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 the company. Baron Silver Stevens Financial Advisors LLC purchased a new stake in shares of Ionis Pharmaceuticals during the 4th quarter valued at about $56,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Ionis Pharmaceuticals by 6.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 116,150 shares of the company’s stock valued at $6,630,000 after buying an additional 6,594 shares during the period. Defined Wealth Management LLC purchased a new stake in shares of Ionis Pharmaceuticals during the 4th quarter valued at about $140,000. Childress Capital Advisors LLC purchased a new stake in shares of Ionis Pharmaceuticals during the 4th quarter valued at about $31,000. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in shares of Ionis Pharmaceuticals by 34.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 64,457 shares of the company’s stock valued at $3,644,000 after buying an additional 16,372 shares during the period. 84.14% 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; TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.

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Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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