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The Buy rating on Ionis Pharmaceuticals (IONS) is reaffirmed at Needham & Company LLC


Needham & Company LLC reiterated their buy rating on shares of Ionis Pharmaceuticals (NASDAQ:IONS – Free Report) Benzinga reports in a research report published on Monday. Needham & Company LLC currently has a $60.00 price target on the stock.

IONS has been the subject of a number of other research reports. StockNews.com upgraded Ionis Pharmaceuticals from a sell rating to a hold rating in a research note on Saturday, February 24. Piper Sandler raised their price target on Ionis Pharmaceuticals from $62.00 to $63.00 and gave the stock an Overweight rating in a research note on Thursday, February 22. Wells Fargo & Company lowered their price objective on Ionis Pharmaceuticals from $85.00 to $82.00 and set an overweight rating for the company in a research report on Wednesday, May 8. Oppenheimer raised their price objective on Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an outperform rating in a research report on Tuesday, April 9. Finally, William Blair reiterated an outperform rating on shares of Ionis Pharmaceuticals in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ionis Pharmaceuticals has a consensus rating of Moderate Buy and an average price target of $59.54.

Read our latest stock report on Ionis Pharmaceuticals

Ionis Pharmaceuticals Price-performance

Shares of Ionis Pharmaceuticals opened at $38.77 on Monday. Ionis Pharmaceuticals has a one-year low of $35.95 and a one-year high of $54.44. The stock’s fifty-day moving average is $40.74 and its 200-day moving average is $45.82. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of -14.52 and a beta of 0.35. The company has a debt-to-equity ratio of 4.15, a quick ratio of 7.28 and a current ratio of 7.37.

Ionis Pharmaceuticals (NASDAQ:IONS – Get Free Report) last reported its earnings results on Tuesday, May 7. The company reported ($0.98) earnings per share for the quarter, surpassing analyst consensus estimates of ($1.10) by $0.12. Ionis Pharmaceuticals had a negative return on equity of 107.64% and a negative net margin of 49.49%. The company had revenue of $119.00 million for the quarter, compared to analyst expectations of $131.42 million. During the same period last year, the company earned ($0.87) earnings per share. Ionis Pharmaceuticals’ revenue for the quarter fell 9.2% compared to the same quarter last year. Sell-side analysts expect Ionis Pharmaceuticals to post -3.98 EPS for the current year.

Insiders place their bets

In other Ionis Pharmaceuticals news, EVP Joseph Baroldi sold 4,006 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares sold at an average price of $41.60, for a total value of $166,649.60. Following the completion of the sale, the executive vice president now owns 19,631 shares of the company’s stock, valued at $816,649.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Ionis Pharmaceuticals news, EVP Joseph Baroldi sold 4,006 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares sold at an average price of $41.60, for a total value of $166,649.60. Following the completion of the sale, the executive vice president now owns 19,631 shares of the company’s stock, valued at $816,649.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Klein III sold 6,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock sold at an average price of $42.71, for a total transaction of $256,260.00. Following the completion of the sale, the director now directly owns 16,346 shares of the company’s stock, valued at approximately $698,137.66. The explanation of this sale can be found here. 2.71% of the shares are owned by insiders.

Institutional trading in Ionis Pharmaceuticals

Institutional investors and hedge funds have recently changed their holdings of stocks. HealthInvest Partners AB purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth approximately $1,226,000. First Turn Management LLC purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter valued at approximately $18,044,000. Charles Schwab Investment Management Inc. increased its stake in Ionis Pharmaceuticals by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,242,307 shares of the company’s stock valued at $56,351,000 after purchasing an additional 43,087 shares during the period. Lisanti Capital Growth LLC purchased a new position in Ionis Pharmaceuticals during the fourth quarter valued at approximately $3,158,000. Finally, TD Asset Management Inc grew its holdings in Ionis Pharmaceuticals by 6.5% in the fourth quarter. TD Asset Management Inc now owns 956,852 shares of the company’s stock valued at $48,407,000 after purchasing an additional 58,000 shares during the period. Institutional investors own 93.86% of the company’s shares.

About Ionis Pharmaceuticals

(Get a free report)

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapies 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 drug for the treatment of familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.

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Analyst recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)



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