In yesterday’s Wall Street session, Ionis Pharmaceuticals Inc (NASDAQ:IONS) shares traded at $41.02, down -3.55% from the previous session.
IONS stock price is now -14.24% away from the 50-day moving average and -10.61% away from the 200-day moving average. The market capitalization of the company currently stands at $6.00B.
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With the price target reduced from $67 to $60, BMO Capital Markets Downgraded its rating from Outperform to Market Perform for Ionis Pharmaceuticals Inc (NASDAQ: IONS). On July 24, 2024, Leerink Partners Upgraded its previous ‘Market Perform’ rating to ‘Outperform’ on the stock increasing its target price from $53 to quote $62, while ‘Jefferies’ rates the stock as ‘Buy’
In other news, Geary Richard S, EVP, Chief Development Officer sold 331 shares of the company’s stock on Aug 29 ’24. The stock was sold for $16,428 at an average price of $49.63. Upon completion of the transaction, the EVP, Chief Development Officer now directly owns 84,823 shares in the company, valued at $3.48 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 28 ’24, EVP, Chief Development Officer Geary Richard S sold 320 shares of the business’s stock. A total of $15,731 was realized by selling the stock at an average price of $49.16. This leaves the insider owning 85,154 shares of the company worth $3.49 million. A total of 8.31% of the company’s stock is owned by insiders.
During the past 12 months, Ionis Pharmaceuticals Inc has had a low of $35.95 and a high of $54.44. As of last week, the company has a debt-to-equity ratio of 7.50, a current ratio of 7.61, and a quick ratio of 7.51. The fifty day moving average price for IONS is $47.7476 and a two-hundred day moving average price translates $45.84355 for the stock.
The latest earnings results from Ionis Pharmaceuticals Inc (NASDAQ: IONS) was released for 2024-06-30. The net profit margin was -44.90% and return on equity was -105.63% for IONS. The company reported revenue of $225.25 million for the quarter, compared to $188.41 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 19.55 percent.
