Ionis Pharmaceuticals (NASDAQ:IONS) Raised to C- at TheStreet

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) was upgraded by TheStreet from a “d+” rating to a “c-” rating in a research note issued to investors on Wednesday, TheStreetRatingsTable reports.

Other equities research analysts have also issued reports about the company. Citigroup assumed coverage on Ionis Pharmaceuticals in a research note on Monday, February 28th. They set a “sell” rating and a $26.00 price target for the company. SVB Leerink decreased their target price on Ionis Pharmaceuticals from $29.00 to $26.00 and set a “market perform” rating for the company in a research report on Friday, April 1st. initiated coverage on shares of Ionis Pharmaceuticals in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Guggenheim initiated coverage on shares of Ionis Pharmaceuticals in a report on Tuesday, March 1st. They set a “buy” rating and a $64.00 price objective for the company. Finally, Bank of America downgraded shares of Ionis Pharmaceuticals from a “buy” rating to an “underperform” rating and decreased their price target for the company from $40.00 to $30.00 in a research note on Tuesday, February 1st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $42.28.

NASDAQ:IONS opened at $43.00 on Wednesday. The firm has a market capitalization of $6.09 billion, a PE ratio of -113.16 and a beta of 0.83. The stock’s fifty day moving average is $35.73 and its 200 day moving average is $32.95. Ionis Pharmaceuticals has a fifty-two week low of $25.04 and a fifty-two week high of $44.42. The company has a debt-to-equity ratio of 1.62, a quick ratio of 9.65 and a current ratio of 9.75.

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.61. Ionis Pharmaceuticals had a negative net margin of 3.45% and a negative return on equity of 4.37%. The business had revenue of $440.00 million for the quarter, compared to analysts’ expectations of $284.08 million. During the same quarter in the previous year, the business posted ($2.44) earnings per share. The business’s revenue was up 51.7% compared to the same quarter last year. Equities analysts forecast that Ionis Pharmaceuticals will post -2.42 EPS for the current year.

In other news, EVP Patrick R. O’neil sold 6,792 shares of the stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $40.06, for a total value of $272,087.52. Following the transaction, the executive vice president now directly owns 34,536 shares of the company’s stock, valued at $1,383,512.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.96% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of IONS. Glassman Wealth Services lifted its holdings in shares of Ionis Pharmaceuticals by 61.0% in the 1st quarter. Glassman Wealth Services now owns 681 shares of the company’s stock valued at $25,000 after buying an additional 258 shares during the period. Consolidated Planning Corp acquired a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at about $26,000. Zullo Investment Group Inc. purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth approximately $27,000. CWM LLC purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth $30,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Ionis Pharmaceuticals during the 4th quarter valued at about $36,000. Institutional investors own 83.97% 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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