Ionis Pharmaceuticals (NASDAQ:IONS) Now Covered by Redburn Atlantic

Redburn Atlantic began coverage on shares of Ionis Pharmaceuticals (NASDAQ:IONS - Free Report) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $39.00 price objective on the stock.

Several other analysts also recently weighed in on IONS. Royal Bank of Canada reissued an "outperform" rating and issued a $70.00 price target on shares of Ionis Pharmaceuticals in a research note on Thursday, February 20th. William Blair reaffirmed an "outperform" rating on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. StockNews.com upgraded shares of Ionis Pharmaceuticals to a "sell" rating in a research report on Tuesday, March 18th. Needham & Company LLC restated a "buy" rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday, February 20th. Finally, BMO Capital Markets reduced their price target on Ionis Pharmaceuticals from $60.00 to $45.00 and set a "market perform" rating on the stock in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Ionis Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $58.37.

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Ionis Pharmaceuticals Stock Performance

Shares of NASDAQ:IONS traded down $1.25 during mid-day trading on Monday, reaching $27.27. The company had a trading volume of 1,015,729 shares, compared to its average volume of 1,464,539. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of -9.00 and a beta of 0.28. The company's 50-day moving average price is $32.20 and its 200-day moving average price is $35.43. The company has a current ratio of 8.47, a quick ratio of 8.82 and a debt-to-equity ratio of 2.12. Ionis Pharmaceuticals has a one year low of $27.00 and a one year high of $52.34.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($1.12) by $0.46. Ionis Pharmaceuticals had a negative return on equity of 100.05% and a negative net margin of 64.25%. The business had revenue of $227.00 million during the quarter, compared to the consensus estimate of $140.97 million. During the same quarter last year, the company earned $0.12 EPS. The firm's revenue was down 30.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Ionis Pharmaceuticals will post -3.5 EPS for the current fiscal year.

Insider Buying and Selling at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, CEO Brett P. Monia sold 33,445 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $32.63, for a total value of $1,091,310.35. Following the completion of the transaction, the chief executive officer now directly owns 207,396 shares in the company, valued at $6,767,331.48. This represents a 13.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Elizabeth L. Hougen sold 8,870 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $32.81, for a total transaction of $291,024.70. Following the sale, the chief financial officer now owns 107,885 shares in the company, valued at approximately $3,539,706.85. The trade was a 7.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,956 shares of company stock valued at $3,608,439 over the last 90 days. 2.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ionis Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IONS. Signaturefd LLC raised its holdings in Ionis Pharmaceuticals by 160.0% during the 4th quarter. Signaturefd LLC now owns 949 shares of the company's stock valued at $33,000 after buying an additional 584 shares during the period. Huntington National Bank increased its position in Ionis Pharmaceuticals by 193.5% during the fourth quarter. Huntington National Bank now owns 951 shares of the company's stock valued at $33,000 after acquiring an additional 627 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of Ionis Pharmaceuticals by 183.8% in the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock valued at $36,000 after acquiring an additional 671 shares during the period. Itau Unibanco Holding S.A. lifted its holdings in shares of Ionis Pharmaceuticals by 40.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,081 shares of the company's stock worth $43,000 after acquiring an additional 314 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Ionis Pharmaceuticals during the 3rd quarter worth about $51,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Company Profile

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.