Shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) reached a new 52-week high on Tuesday . The stock traded as high as $72.41 and last traded at $72.37, with a volume of 551342 shares traded. The stock had previously closed at $70.49.
Several analysts have recently weighed in on the company. Piper Jaffray Companies lifted their target price on Ionis Pharmaceuticals to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 28th. ValuEngine upgraded Ionis Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 28th. BMO Capital Markets lifted their price objective on Ionis Pharmaceuticals from $70.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, February 28th. TheStreet upgraded Ionis Pharmaceuticals from a “c” rating to a “b-” rating in a report on Friday. Finally, Morgan Stanley set a $71.00 price objective on Ionis Pharmaceuticals and gave the company a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $60.57.
Get Ionis Pharmaceuticals alerts:The company has a debt-to-equity ratio of 0.74, a current ratio of 7.99 and a quick ratio of 7.96. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 24.06 and a beta of 2.28.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Wednesday, February 27th. The company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $2.20. Ionis Pharmaceuticals had a negative return on equity of 1.58% and a negative net margin of 7.52%. The company had revenue of $192.00 million for the quarter, compared to analyst estimates of $159.59 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts forecast that Ionis Pharmaceuticals Inc will post -0.18 EPS for the current fiscal year.
In other Ionis Pharmaceuticals news, SVP Elizabeth L. Hougen sold 4,063 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $52.03, for a total value of $211,397.89. Following the transaction, the senior vice president now owns 16,774 shares in the company, valued at $872,751.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director B Lynne Parshall sold 8,333 shares of Ionis Pharmaceuticals stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $583,310.00. Following the completion of the transaction, the director now owns 61,010 shares in the company, valued at approximately $4,270,700. The disclosure for this sale can be found here. Insiders sold 197,326 shares of company stock worth $12,114,304 in the last quarter. 2.44% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in Ionis Pharmaceuticals in the fourth quarter valued at approximately $54,463,000. Dimensional Fund Advisors LP boosted its position in Ionis Pharmaceuticals by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 292,868 shares of the company’s stock valued at $15,827,000 after buying an additional 24,169 shares during the last quarter. Amalgamated Bank boosted its position in Ionis Pharmaceuticals by 62.9% in the fourth quarter. Amalgamated Bank now owns 27,879 shares of the company’s stock valued at $1,507,000 after buying an additional 10,762 shares during the last quarter. Macquarie Group Ltd. boosted its position in Ionis Pharmaceuticals by 2.7% in the fourth quarter. Macquarie Group Ltd. now owns 23,989 shares of the company’s stock valued at $1,297,000 after buying an additional 623 shares during the last quarter. Finally, AE Wealth Management LLC acquired a new position in Ionis Pharmaceuticals in the fourth quarter valued at approximately $313,000. Institutional investors own 84.55% of the company’s stock.
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About Ionis Pharmaceuticals (NASDAQ:IONS)
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.
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