Ionis Pharmaceuticals (NASDAQ:IONS) Downgraded to Sell at StockNews.com

StockNews.com downgraded shares of Ionis Pharmaceuticals (NASDAQ:IONS) from a hold rating to a sell rating in a report published on Friday.

IONS has been the subject of several other reports. Barclays upped their target price on Ionis Pharmaceuticals from $45.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on Ionis Pharmaceuticals from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, September 26th. Jefferies Financial Group began coverage on shares of Ionis Pharmaceuticals in a report on Tuesday, July 16th. They issued a “buy” rating and a $75.00 target price for the company. Finally, The Goldman Sachs Group lifted their price target on shares of Ionis Pharmaceuticals from $33.00 to $37.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Ionis Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Ionis Pharmaceuticals Stock Performance

Shares of NASDAQ:IONS opened at $39.19 on Friday. The company has a quick ratio of 7.51, a current ratio of 7.61 and a debt-to-equity ratio of 4.67. The firm has a market cap of $5.72 billion, a PE ratio of -14.68 and a beta of 0.38. The company’s 50 day moving average price is $42.44 and its two-hundred day moving average price is $43.10. Ionis Pharmaceuticals has a 12-month low of $35.95 and a 12-month high of $54.44.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Thursday, August 1st. The company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.47. Ionis Pharmaceuticals had a negative return on equity of 115.66% and a negative net margin of 44.90%. The firm had revenue of $225.00 million during the quarter, compared to the consensus estimate of $152.35 million. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue was up 19.7% compared to the same quarter last year. Equities research analysts predict that Ionis Pharmaceuticals will post -3.67 earnings per share for the current year.

Insider Buying and Selling at Ionis Pharmaceuticals

In other news, EVP Richard S. Geary sold 2,430 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $48.00, for a total value of $116,640.00. Following the transaction, the executive vice president now owns 85,508 shares in the company, valued at approximately $4,104,384. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 2,803 shares of company stock valued at $134,402. 2.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky boosted its position in shares of Ionis Pharmaceuticals by 70.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 24,083 shares of the company’s stock worth $1,044,000 after purchasing an additional 9,965 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Ionis Pharmaceuticals during the first quarter valued at approximately $630,000. Edgestream Partners L.P. acquired a new position in shares of Ionis Pharmaceuticals during the first quarter worth approximately $765,000. Blair William & Co. IL lifted its holdings in shares of Ionis Pharmaceuticals by 67.4% in the 1st quarter. Blair William & Co. IL now owns 27,838 shares of the company’s stock worth $1,207,000 after purchasing an additional 11,210 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ionis Pharmaceuticals in the 1st quarter worth $613,000. 93.86% of the stock is owned by institutional investors and hedge funds.

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.