Stock is down at $62.80 (IONS) Ionis Pharmaceuticals to Hold Third…


Ionis Pharmaceuticals, Inc. (NASDAQ:IONS):

Ionis Pharmaceuticals to Hold Third Quarter 2017 Financial Results Webcast.

The company is now down from yesterday’s close of 64.39.

Ionis Pharmaceuticals, Inc., launched on March 25, 1991, is involved in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Business’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is involved in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners. The Akcea Therapeutics segment includes the operations of the Business’s subsidiary, Akcea Therapeutics, Inc. (Akcea Therapeutics). Akcea Therapeutics is focused on developing and commercializing volanesorsen and other clinical-stage drugs for serious cardiometabolic diseases caused by lipid disorders..

Company shares are trading at $62.80 impressively higher than the 50 day moving average of $56.71 and significantly higher than the 200 day moving average of $50.85. The 50 day moving average moved up $6.09 whereas the 200 day moving average was up $11.95 or +23.51%.

The company currently has a P/E ratio of 301.92 and the market value is 7.81B. As of the latest earnings report the EPS was $0.21 and is projected to be $-0.16 for the current year with 124,354,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $-0.09 and the next full year EPS is anticipated to be $0.07.

Investors are more bullish on shares of the company if you take note of the decrease in short interest. The stock realized a fall in short interest of -4.71% between September 15, 2017 and September 29, 2017. Short shares decreased 482,056 over that period. Days to cover decreased from 11.0 to 6.0 and the percentage of shorted shares was 0.08% on September 29.

Several brokerage firms have issued ratings on the company recently. On July 27, 2017 Bernstein starting coverage on the stock with an initial rating of “Outperform”. On August 14 BMO Capital held the company rating at “Outperform” but raised the price expectation from $67.00 to $69.00.

Evercore ISI Group initiated coverage setting a rating of “Outperform”. Equity analyst Barclays issued its first research report on the stock with a rating of “Equal-Weight”.

September 21 investment analysts at Barclays held the stock rating at “Equal-Weight” and lowered the price target to $52.00 from $55.00.