Ionis Pharmaceuticals Inc. (NASDAQ:IONS) was the target of a large decline in short interest in September. As of September 15th, there was short interest totalling 12,673,799 shares, a decline of 9.5% from the August 31st total of 14,002,218 shares. Based on an average daily trading volume, of 1,589,909 shares, the short-interest ratio is presently 8.0 days. Approximately 10.6% of the shares of the stock are short sold.
In other Ionis Pharmaceuticals news, COO B Lynne Parshall sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $29.88, for a total value of $373,500.00. Following the completion of the transaction, the chief operating officer now owns 25,558 shares of the company’s stock, valued at approximately $763,673.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Stanley T. Crooke sold 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $36.02, for a total transaction of $792,440.00. Following the completion of the transaction, the chairman now directly owns 45,029 shares of the company’s stock, valued at approximately $1,621,944.58. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake in Ionis Pharmaceuticals by 372.6% in the second quarter. AQR Capital Management LLC now owns 1,858,239 shares of the company’s stock valued at $43,278,000 after buying an additional 1,465,004 shares during the last quarter. State Street Corp boosted its stake in Ionis Pharmaceuticals by 39.8% in the second quarter. State Street Corp now owns 4,246,911 shares of the company’s stock valued at $98,915,000 after buying an additional 1,209,523 shares during the last quarter. Norges Bank bought a new stake in Ionis Pharmaceuticals during the fourth quarter valued at about $63,121,000. Fiera Capital Corp bought a new stake in Ionis Pharmaceuticals during the second quarter valued at about $22,326,000. Finally, BVF Inc. IL bought a new stake in Ionis Pharmaceuticals during the second quarter valued at about $19,797,000. Hedge funds and other institutional investors own 89.58% of the company’s stock.
Ionis Pharmaceuticals (NASDAQ:IONS) opened at 36.38 on Thursday. The firm has a 50-day moving average of $32.66 and a 200 day moving average of $32.34. Ionis Pharmaceuticals has a one year low of $19.59 and a one year high of $65.34. The company’s market capitalization is $4.40 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.05. The firm had revenue of $38.50 million for the quarter, compared to analysts’ expectations of $38.52 million. Ionis Pharmaceuticals had a negative net margin of 128.94% and a negative return on equity of 126.88%. The company’s revenue was down 68.0% on a year-over-year basis. Equities research analysts predict that Ionis Pharmaceuticals will post ($1.11) earnings per share for the current fiscal year.
A number of equities analysts have commented on the stock. Leerink Swann reissued a “market perform” rating and issued a $36.00 price target (up previously from $26.00) on shares of Ionis Pharmaceuticals in a research note on Tuesday, August 2nd. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating and set a $41.00 price objective for the company in a research note on Wednesday, August 3rd. Cowen and Company reaffirmed a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, August 3rd. Barclays PLC upped their price objective on shares of Ionis Pharmaceuticals from $26.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 2nd. Finally, Needham & Company LLC upped their price objective on shares of Ionis Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $42.25.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
Receive News & Ratings for Ionis Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.