Ionis Pharmaceuticals (NASDAQ:IONS) Given New $70.00 Price Target at Piper Jaffray Companies

Ionis Pharmaceuticals (NASDAQ:IONS) had its price target dropped by equities researchers at Piper Jaffray Companies from $75.00 to $70.00 in a research note issued on Thursday, The Fly reports. The firm currently has a “neutral” rating on the stock. Piper Jaffray Companies’ target price indicates a potential upside of 22.68% from the company’s current price. Piper Jaffray Companies also issued estimates for Ionis Pharmaceuticals’ Q3 2020 earnings at $0.05 EPS, Q1 2021 earnings at $0.35 EPS, Q2 2021 earnings at $0.40 EPS and Q3 2021 earnings at $0.40 EPS.

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Other analysts have also issued research reports about the company. ValuEngine raised Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Morgan Stanley lowered Ionis Pharmaceuticals from an “equal” rating to a “weight” rating and decreased their price objective for the company from $63.00 to $48.00 in a research note on Thursday. BMO Capital Markets decreased their price objective on Ionis Pharmaceuticals from $96.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Cowen reaffirmed a “hold” rating on shares of Ionis Pharmaceuticals in a research note on Thursday. Finally, Wells Fargo & Co increased their price objective on Ionis Pharmaceuticals from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $73.45.

Shares of NASDAQ IONS traded up $1.71 during mid-day trading on Thursday, hitting $57.06. 925,100 shares of the company were exchanged, compared to its average volume of 1,150,599. Ionis Pharmaceuticals has a 1-year low of $48.27 and a 1-year high of $86.58. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 15.24 and a beta of 1.90. The stock has a 50 day simple moving average of $57.99 and a 200-day simple moving average of $64.32. The company has a quick ratio of 9.93, a current ratio of 10.01 and a debt-to-equity ratio of 0.45.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.49. The business had revenue of $168.00 million for the quarter, compared to analyst estimates of $152.47 million. Ionis Pharmaceuticals had a return on equity of 38.70% and a net margin of 49.90%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) earnings per share. Analysts anticipate that Ionis Pharmaceuticals will post 0.25 earnings per share for the current fiscal year.

In other Ionis Pharmaceuticals news, Chairman Stanley T. Crooke sold 22,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $71.52, for a total value of $1,573,440.00. Following the sale, the chairman now directly owns 79,634 shares of the company’s stock, valued at approximately $5,695,423.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.40% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the business. Whittier Trust Co. boosted its stake in Ionis Pharmaceuticals by 283.0% in the 2nd quarter. Whittier Trust Co. now owns 383 shares of the company’s stock worth $25,000 after buying an additional 283 shares during the last quarter. CWM LLC boosted its stake in Ionis Pharmaceuticals by 361.4% in the 2nd quarter. CWM LLC now owns 406 shares of the company’s stock worth $26,000 after buying an additional 318 shares during the last quarter. Ellis Investment Partners LLC acquired a new stake in Ionis Pharmaceuticals in the 2nd quarter worth about $32,000. Rehmann Capital Advisory Group boosted its stake in Ionis Pharmaceuticals by 41.3% in the 2nd quarter. Rehmann Capital Advisory Group now owns 592 shares of the company’s stock worth $38,000 after buying an additional 173 shares during the last quarter. Finally, Quest Capital Management Inc. ADV acquired a new stake in Ionis Pharmaceuticals in the 3rd quarter worth about $36,000. 88.89% of the stock is currently owned by hedge funds and other 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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