Guggenheim Raises Ionis Pharmaceuticals (NASDAQ:IONS) Price Target to $70.00

Ionis Pharmaceuticals (NASDAQ:IONS) had its price objective upped by Guggenheim from $64.00 to $70.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently issued reports on the stock. Wolfe Research raised shares of Ionis Pharmaceuticals from a peer perform rating to an outperform rating and set a $58.00 price objective on the stock in a report on Wednesday, April 10th. Leerink Partnrs raised shares of Ionis Pharmaceuticals from a hold rating to a strong-buy rating in a research report on Wednesday, July 24th. Sanford C. Bernstein raised shares of Ionis Pharmaceuticals from an underperform rating to a market perform rating and set a $44.00 price objective for the company in a report on Friday, June 14th. Wells Fargo & Company dropped their price target on shares of Ionis Pharmaceuticals from $85.00 to $82.00 and set an overweight rating on the stock in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus boosted their price target on Ionis Pharmaceuticals from $50.00 to $53.00 and gave the company a hold rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Ionis Pharmaceuticals has a consensus rating of Moderate Buy and an average target price of $60.68.

Ionis Pharmaceuticals Trading Down 4.3 %

NASDAQ IONS traded down $2.13 during trading on Friday, hitting $47.00. 1,280,762 shares of the company’s stock traded hands, compared to its average volume of 1,221,323. The company has a debt-to-equity ratio of 4.15, a current ratio of 7.37 and a quick ratio of 7.28. The stock has a fifty day moving average of $44.74 and a two-hundred day moving average of $44.34. The firm has a market cap of $6.86 billion, a P/E ratio of -18.40 and a beta of 0.40. Ionis Pharmaceuticals has a 12-month low of $35.95 and a 12-month high of $54.44.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.47. Ionis Pharmaceuticals had a negative net margin of 44.90% and a negative return on equity of 109.65%. The business had revenue of $225.00 million for the quarter, compared to analysts’ expectations of $152.35 million. During the same quarter last year, the company posted $0.60 EPS. The company’s revenue was up 19.7% compared to the same quarter last year. As a group, sell-side analysts expect that Ionis Pharmaceuticals will post -3.9 EPS for the current year.

Insider Activity at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, Director Joseph Klein III sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $50.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director now directly owns 16,346 shares in the company, valued at approximately $817,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Pingora Partners LLC purchased a new stake in shares of Ionis Pharmaceuticals in the fourth quarter worth approximately $25,000. GAMMA Investing LLC bought a new stake in Ionis Pharmaceuticals during the 4th quarter worth about $26,000. Mather Group LLC. bought a new stake in Ionis Pharmaceuticals during the 1st quarter worth about $29,000. nVerses Capital LLC acquired a new position in shares of Ionis Pharmaceuticals during the 2nd quarter worth about $29,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Ionis Pharmaceuticals during the 4th quarter worth about $34,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

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; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.