Ionis Pharmaceuticals, Inc. (IONS) Raised to "Buy" at Zacks Investment Research

Ionis Pharmaceuticals Inc Growing Royalties an Advancing Pipeline and Getting Back Rights to Some Drugs

Ionis Pharmaceuticals, Inc. (IONS) Raised to "Buy" at Zacks Investment Research

The company has a consensus rating of Hold and a consensus target price of $47.13.

The stock of Ionis Pharmaceuticals Incorporated (NASDAQ:IONS) registered a decrease of 0.63% in short interest. The business had revenue of $104.15 million during the quarter, compared to the consensus estimate of $93.29 million. Ionis Pharmaceuticals had a negative net margin of 4.80% and a negative return on equity of 14.61%. The firm's revenue was up 170.7% compared to the same quarter a year ago. Equities analysts anticipate that Ionis Pharmaceuticals, Inc. will post ($0.03) earnings per share for the current fiscal year.

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A number of other analysts have also recently commented on AKCA. They now have a $62.00 price target on the stock, up from their previous price target of $59.00.

Wells Fargo & Company assumed coverage on shares of Akcea Therapeut (NASDAQ:AKCA) in a report released on Tuesday morning, Marketbeat Ratings reports. They issued a buy rating and a $19.00 price objective for the company. TheStreet upgraded Ionis Pharmaceuticals from a "d+" rating to a "c-" rating in a research note on Wednesday, July 5th. The stock of Ionis Pharmaceuticals Inc (NASDAQ:IONS) earned "Buy" rating by Laidlaw on Tuesday, December 27. (IONS) traded up 1.921% during midday trading on Friday, hitting $46.435. Ionis Pharmaceuticals has a 12 month low of $24.58 and a 12 month high of $60.01.

The company is so far trading up since yesterday's close of $45.56. The firm's 50 day moving average is $52.75 and its 200 day moving average is $46.90. Hedge funds and other institutional investors own 88.77% of the company's stock. Parallel Advisors LLC boosted its stake in shares of Ionis Pharmaceuticals by 62.8% in the second quarter. Bb Biotech Ag, a Switzerland-based fund reported 682,912 shares. State Street Corp raised its position in Ionis Pharmaceuticals by 20.5% in the first quarter. Also, Chairman Stanley T. Crooke sold 16,500 shares of the firm's stock in a transaction dated Monday, July 17th. The stock was purchased at an average cost of $8.00 per share, with a total value of $25,000,000.00. Following the transaction, the chairman now owns 48,014 shares in the company, valued at $2,657,574.90. The shares were sold at an average price of $59.29, for a total transaction of $592,900.00. Following the completion of the acquisition, the insider now directly owns 28,884,540 shares of the company's stock, valued at approximately $231,076,320. The disclosure for this sale can be found here. Motley Fool Wealth Management, LLC claims 342,329 shares valued at $17,414,000. 1,847,282 shares of the company's stock were exchanged.

Ionis Pharmaceuticals, engaged in discovering and developing ribonucleic acid -targeted therapeutics. The Company's Ionis Core segment is developing a drug discovery platform.

In other Akcea Therapeut news, major shareholder Ionis Pharmaceuticals Inc acquired 3,125,000 shares of the company's stock in a transaction that occurred on Wednesday, July 19th.

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