Latest Stocks: BMO Capital Markets Reiterates “Buy” Rating for Ionis Pharmaceuticals Inc (IONS)

Latest Stocks: BMO Capital Markets Reiterates “Buy” Rating for Ionis Pharmaceuticals Inc (IONS)

Ionis Pharmaceuticals Inc (NASDAQ:IONS)‘s stock had its “buy” rating reiterated by BMO Capital Markets in a report released on Friday. They presently have a $59.00 target price on the stock. BMO Capital Markets’ target price would suggest a potential upside of 21.57% from the company’s current price.

Several other research analysts have also issued reports on IONS. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Monday, February 13th. Needham & Company LLC reissued a “buy” rating and set a $64.00 target price on shares of Ionis Pharmaceuticals in a research note on Tuesday, February 28th. Goldman Sachs Group Inc lowered shares of Ionis Pharmaceuticals from a “neutral” rating to a “sell” rating and cut their target price for the stock from $28.00 to $25.00 in a research note on Friday, March 10th. Vetr raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating and set a $37.67 target price on the stock in a research note on Tuesday, March 21st. Finally, Piper Jaffray Companies set a $51.00 price objective on shares of Ionis Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, May 10th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $43.97.

Ionis Pharmaceuticals (NASDAQ:IONS) opened at 48.53 on Friday. The firm has a 50-day moving average of $45.76 and a 200-day moving average of $45.29. Ionis Pharmaceuticals has a 52 week low of $20.49 and a 52 week high of $57.00. The company’s market capitalization is $6.02 billion.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Tuesday, May 9th. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.13. Ionis Pharmaceuticals had a negative net margin of 77.30% and a negative return on equity of 120.60%. The company had revenue of $110.30 million for the quarter, compared to analyst estimates of $86.03 million. During the same period in the prior year, the firm posted ($0.52) EPS. The company’s quarterly revenue was up 199.2% on a year-over-year basis. Equities analysts expect that Ionis Pharmaceuticals will post ($0.39) earnings per share for the current fiscal year. In other news, Chairman Stanley T. Crooke sold 22,000 shares of the business’s stock in a transaction on Thursday, April 13th. The shares were sold at an average price of $40.69, for a total transaction of $895,180.00. Following the sale, the chairman now owns 48,014 shares in the company, valued at approximately $1,953,689.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Patrick R. O’neil sold 1,000 shares of the business’s stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $40.07, for a total transaction of $40,070.00. Following the sale, the senior vice president now owns 10,449 shares in the company, valued at approximately $418,691.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,220 shares of company stock worth $2,019,538. 1.86% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the stock. Utah Retirement Systems boosted its stake in shares of Ionis Pharmaceuticals by 0.5% in the first quarter. Utah Retirement Systems now owns 22,000 shares of the company’s stock worth $884,000 after buying an additional 100 shares during the period. Grandfield & Dodd LLC boosted its position in shares of Ionis Pharmaceuticals by 1.1% in the first quarter. Grandfield & Dodd LLC now owns 12,119 shares of the company’s stock worth $487,000 after buying an additional 135 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of Ionis Pharmaceuticals by 2.9% in the first quarter. Raymond James Trust N.A. now owns 5,705 shares of the company’s stock worth $229,000 after buying an additional 159 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of Ionis Pharmaceuticals by 10.3% in the first quarter. Capstone Asset Management Co. now owns 5,148 shares of the company’s stock worth $207,000 after buying an additional 480 shares during the last quarter. Finally, Wrapmanager Inc. boosted its position in shares of Ionis Pharmaceuticals by 4.0% in the first quarter. Wrapmanager Inc. now owns 18,024 shares of the company’s stock worth $725,000 after buying an additional 696 shares during the last quarter. Hedge funds and other institutional investors own 87.76% of the company’s stock. Ionis Pharmaceuticals Company Profile

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