Ionis Pharmaceuticals (NASDAQ:IONS) Price Target Lowered to $45.00 at JPMorgan Chase & Co.

Ionis Pharmaceuticals (NASDAQ:IONS) had its price objective reduced by analysts at JPMorgan Chase & Co. from $47.00 to $45.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 39.45% from the stock’s current price.

A number of other equities analysts also recently weighed in on IONS. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, February 20th. BMO Capital Markets dropped their target price on shares of 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. William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Citigroup dropped their price objective on Ionis Pharmaceuticals from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $59.44.

Ionis Pharmaceuticals Trading Down 3.5 %

Shares of Ionis Pharmaceuticals stock opened at $32.27 on Monday. The company has a current ratio of 8.47, a quick ratio of 8.82 and a debt-to-equity ratio of 2.12. The stock has a fifty day simple moving average of $32.58 and a 200 day simple moving average of $35.98. Ionis Pharmaceuticals has a 12-month low of $30.23 and a 12-month high of $52.34. The company has a market capitalization of $5.13 billion, a P/E ratio of -10.62 and a beta of 0.28.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($1.12) by $0.46. Ionis Pharmaceuticals had a negative net margin of 64.25% and a negative return on equity of 100.05%. The firm had revenue of $227.00 million during the quarter, compared to analyst estimates of $140.97 million. During the same quarter last year, the business posted $0.12 EPS. The company’s revenue for the quarter was down 30.2% on a year-over-year basis. On average, sell-side analysts anticipate that Ionis Pharmaceuticals will post -3.5 earnings per share for the current fiscal year.

Insider Activity

In other Ionis Pharmaceuticals news, EVP Patrick R. O’neil sold 1,207 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $32.35, for a total value of $39,046.45. Following the transaction, the executive vice president now directly owns 56,245 shares in the company, valued at $1,819,525.75. This represents a 2.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Eric Swayze sold 7,154 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $32.84, for a total value of $234,937.36. Following the completion of the sale, the executive vice president now directly owns 45,670 shares in the company, valued at approximately $1,499,802.80. The trade was a 13.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,956 shares of company stock worth $3,608,439. 2.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Signaturefd LLC grew its stake in Ionis Pharmaceuticals by 160.0% in the 4th quarter. Signaturefd LLC now owns 949 shares of the company’s stock worth $33,000 after buying an additional 584 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Ionis Pharmaceuticals by 193.5% during the 4th quarter. Huntington National Bank now owns 951 shares of the company’s stock worth $33,000 after acquiring an additional 627 shares during the last quarter. Lindbrook Capital LLC grew its position in Ionis Pharmaceuticals by 183.8% in the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $36,000 after acquiring an additional 671 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in Ionis Pharmaceuticals by 40.9% in the third quarter. Itau Unibanco Holding S.A. now owns 1,081 shares of the company’s stock valued at $43,000 after acquiring an additional 314 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Ionis Pharmaceuticals in the third quarter valued at $51,000. 93.86% of the stock is currently owned by 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; 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.