Ionis Pharmaceuticals (NASDAQ:IONS)‘s stock had its “hold” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research note issued on Thursday, April 18th, AnalystRatings.com reports.
The analysts wrote, “: $68 PT. Ionis is trading down -13% (vs. XBI -4%) after partner Roche’s (ROG-CH, NC) earnings call commentary this morning on the Huntington’s program. From Roche’s comments, we think definitive HD updates (cognition data, regulatory path) will not come until later this year or next, or potentially not until full Ph3 data (we estimate 2023+). We continue to think HD could be a high value indication longer term with high unmet need and get many investor questions on the program.””
Several other brokerages have also recently commented on IONS. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, April 5th. JPMorgan Chase & Co. increased their target price on shares of Ionis Pharmaceuticals from $47.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. ValuEngine upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Morgan Stanley set a $71.00 target price on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, Piper Jaffray Companies set a $63.00 target price on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $66.44.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.19. The firm had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $285.43 million. Ionis Pharmaceuticals had a net margin of 47.74% and a return on equity of 49.13%. The business’s revenue for the quarter was up 106.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.01) earnings per share. On average, equities research analysts anticipate that Ionis Pharmaceuticals will post -0.09 earnings per share for the current fiscal year.
In related news, SVP Richard S. Geary sold 999 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $60.00, for a total value of $59,940.00. Following the completion of the transaction, the senior vice president now owns 21,442 shares in the company, valued at approximately $1,286,520. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Stanley T. Crooke sold 46,904 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $60.09, for a total transaction of $2,818,461.36. Following the completion of the transaction, the chairman now owns 109,634 shares of the company’s stock, valued at approximately $6,587,907.06. The disclosure for this sale can be found here. Insiders sold 400,592 shares of company stock worth $29,395,319 over the last three months. Insiders own 2.44% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of IONS. Buffington Mohr McNeal bought a new position in Ionis Pharmaceuticals in the 1st quarter valued at approximately $28,000. Huntington National Bank raised its holdings in Ionis Pharmaceuticals by 159.3% during the 4th quarter. Huntington National Bank now owns 638 shares of the company’s stock worth $34,000 after purchasing an additional 392 shares during the last quarter. First Interstate Bank bought a new position in Ionis Pharmaceuticals during the 1st quarter worth approximately $34,000. Essex Savings Bank bought a new position in Ionis Pharmaceuticals during the 4th quarter worth approximately $39,000. Finally, Laurel Wealth Advisors LLC bought a new position in Ionis Pharmaceuticals during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 84.28% of the company’s stock.
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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