Ionis Pharmaceuticals (NASDAQ:IONS) Given New $27.00 Price Target at SVB Leerink

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) had its price objective raised by equities research analysts at SVB Leerink from $26.00 to $27.00 in a research note issued on Tuesday, Stock Target Advisor reports. The firm presently has a “market perform” rating on the stock. SVB Leerink’s target price would suggest a potential downside of 28.53% from the stock’s previous close.

IONS has been the topic of several other research reports. StockNews.com cut Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Citigroup began coverage on shares of Ionis Pharmaceuticals in a report on Monday, February 28th. They issued a “sell” rating and a $26.00 price target for the company. Piper Sandler boosted their price objective on shares of Ionis Pharmaceuticals from $54.00 to $55.00 in a research report on Friday, June 10th. Stifel Nicolaus increased their target price on Ionis Pharmaceuticals from $31.00 to $33.00 in a report on Thursday, May 5th. Finally, TheStreet lowered Ionis Pharmaceuticals from a “c-” rating to a “d” rating in a report on Monday, June 6th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $43.44.

NASDAQ:IONS traded up $2.52 during trading hours on Tuesday, hitting $37.78. The stock had a trading volume of 22,217 shares, compared to its average volume of 1,000,984. The business’s 50 day moving average is $37.46 and its 200-day moving average is $34.48. The company has a debt-to-equity ratio of 1.76, a quick ratio of 9.76 and a current ratio of 9.86. The company has a market cap of $5.36 billion, a price-to-earnings ratio of -188.89 and a beta of 0.78. Ionis Pharmaceuticals has a one year low of $25.04 and a one year high of $44.42.

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.22. The company had revenue of $142.00 million during the quarter, compared to analyst estimates of $122.46 million. Ionis Pharmaceuticals had a negative net margin of 0.36% and a negative return on equity of 0.46%. The firm’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.64) EPS. On average, sell-side analysts anticipate that Ionis Pharmaceuticals will post -2.39 EPS for the current fiscal year.

In other news, EVP Patrick R. O’neil sold 6,792 shares of the company’s stock in a transaction that occurred on Tuesday, April 12th. The stock was sold at an average price of $40.06, for a total transaction of $272,087.52. Following the sale, the executive vice president now owns 34,536 shares in the company, valued at approximately $1,383,512.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 7,525 shares of company stock valued at $302,085 over the last three months. Insiders own 2.36% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Ionis Pharmaceuticals by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 12,099,034 shares of the company’s stock valued at $448,148,000 after purchasing an additional 91,958 shares during the period. Bellevue Group AG lifted its holdings in Ionis Pharmaceuticals by 10.8% during the 4th quarter. Bellevue Group AG now owns 10,355,123 shares of the company’s stock worth $315,106,000 after buying an additional 1,007,197 shares during the period. Clearbridge Investments LLC increased its position in Ionis Pharmaceuticals by 10.1% during the 1st quarter. Clearbridge Investments LLC now owns 6,476,033 shares of the company’s stock valued at $239,872,000 after purchasing an additional 593,051 shares during the period. Tweedy Browne Co LLC acquired a new stake in shares of Ionis Pharmaceuticals during the first quarter worth $108,346,000. Finally, Geode Capital Management LLC lifted its stake in Ionis Pharmaceuticals by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 1,825,226 shares of the company’s stock valued at $55,541,000 after buying an additional 52,459 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Ionis Pharmaceuticals Company Profile (Get Rating)

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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