Ionis Pharmaceuticals (IONS) Earns “Hold” Rating from Cantor Fitzgerald

Ionis Pharmaceuticals (NASDAQ:IONS)‘s stock had its “hold” rating reaffirmed by Cantor Fitzgerald in a research report issued to clients and investors on Wednesday, AnalystRatings.com reports. They presently have a $68.00 target price on the stock. Cantor Fitzgerald’s price objective suggests a potential downside of 6.80% from the stock’s previous close.

The analysts wrote, “. $68 PT. Biogen (BIIB, Young, Neutral) reported earnings this morning and discussed the outlook for Spinraza, which is a key product for Ionis (receives low-20s royalty). Incremental color suggests that the broader SMA market, especially ex-US, is likely much larger than initially expected. However, we see disruptive potential from competitors (risdiplam and gene therapy) which continues to leave us cautious on the long-term Spinraza opportunity. We are hosting a conference call on Monday at 10 AM ET to discuss our thoughts on the key SMA competitor updates expected at AAN (early May) and stock reads to IONS, BIIB and PTCT (Overweight, Young). Call details below.””

IONS has been the subject of a number of other research reports. ValuEngine upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. Piper Jaffray Companies set a $75.00 target price on Ionis Pharmaceuticals and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research report on Thursday, April 18th. Morgan Stanley set a $71.00 target price on Ionis Pharmaceuticals and gave the stock a “hold” rating in a research report on Friday, March 1st. Finally, BMO Capital Markets increased their target price on Ionis Pharmaceuticals from $70.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $67.56.

IONS traded down $2.04 during midday trading on Wednesday, reaching $72.96. The company had a trading volume of 28,527 shares, compared to its average volume of 1,082,673. The company has a quick ratio of 7.85, a current ratio of 7.88 and a debt-to-equity ratio of 0.53. The stock has a market cap of $10.05 billion, a price-to-earnings ratio of 24.77 and a beta of 2.42. Ionis Pharmaceuticals has a 1 year low of $39.07 and a 1 year high of $86.58.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, February 27th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $2.46. The business had revenue of $192.00 million during the quarter, compared to analysts’ expectations of $159.59 million. Ionis Pharmaceuticals had a return on equity of 41.89% and a net margin of 45.64%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.03) earnings per share. On average, equities analysts anticipate that Ionis Pharmaceuticals will post -0.05 earnings per share for the current fiscal year.

In related news, Chairman Stanley T. Crooke sold 32,000 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $84.84, for a total transaction of $2,714,880.00. Following the completion of the transaction, the chairman now directly owns 79,634 shares of the company’s stock, valued at $6,756,148.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director B Lynne Parshall sold 8,333 shares of the stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $583,310.00. Following the transaction, the director now directly owns 61,010 shares of the company’s stock, valued at $4,270,700. The disclosure for this sale can be found here. Insiders have sold 371,205 shares of company stock valued at $26,749,487 in the last quarter. 2.44% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Huntington National Bank boosted its stake in Ionis Pharmaceuticals by 159.3% during the fourth quarter. Huntington National Bank now owns 638 shares of the company’s stock valued at $34,000 after buying an additional 392 shares during the last quarter. Essex Savings Bank bought a new position in Ionis Pharmaceuticals during the fourth quarter valued at approximately $39,000. Laurel Wealth Advisors LLC bought a new position in Ionis Pharmaceuticals during the fourth quarter valued at approximately $43,000. Daiwa Securities Group Inc. boosted its stake in Ionis Pharmaceuticals by 29.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 890 shares of the company’s stock valued at $48,000 after buying an additional 200 shares during the last quarter. Finally, Portfolio Solutions LLC bought a new position in Ionis Pharmaceuticals during the fourth quarter valued at approximately $54,000. 85.05% of the stock is owned by 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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

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Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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