Ionis Pharmaceuticals (IONS) Stock Price Down 6%

Ionis Pharmaceuticals (NASDAQ:IONS) shares fell 6% on Friday . The company traded as low as $47.55 and last traded at $47.74. 1,014,960 shares changed hands during mid-day trading, an increase of 0% from the average session volume of 1,012,292 shares. The stock had previously closed at $50.78.

A number of brokerages have weighed in on IONS. Sanford C. Bernstein reiterated a “market perform” rating and issued a $55.00 price objective (down previously from $61.00) on shares of Ionis Pharmaceuticals in a research report on Tuesday, February 20th. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Stifel Nicolaus upped their price objective on shares of Ionis Pharmaceuticals from $55.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. BMO Capital Markets upped their price objective on shares of Ionis Pharmaceuticals from $64.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Finally, BidaskClub downgraded shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, December 22nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Ionis Pharmaceuticals has an average rating of “Hold” and a consensus price target of $51.12.

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The company has a market capitalization of $5,986.74, a P/E ratio of -1,193.20 and a beta of 2.44. The company has a quick ratio of 5.15, a current ratio of 5.20 and a debt-to-equity ratio of 1.45.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Tuesday, February 27th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.10. The business had revenue of $172.00 million during the quarter, compared to analysts’ expectations of $126.38 million. Ionis Pharmaceuticals had a negative net margin of 1.18% and a negative return on equity of 1.94%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. analysts anticipate that Ionis Pharmaceuticals will post -0.13 EPS for the current year.

In related news, SVP Patrick R. O’neil sold 1,000 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $55.00, for a total transaction of $55,000.00. Following the completion of the sale, the senior vice president now owns 15,452 shares of the company’s stock, valued at approximately $849,860. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Klein III sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $51.13, for a total transaction of $102,260.00. The disclosure for this sale can be found here. Insiders have sold 108,635 shares of company stock valued at $5,615,581 in the last three months. Corporate insiders own 2.13% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in IONS. Farallon Capital Management LLC grew its stake in Ionis Pharmaceuticals by 43.3% during the 4th quarter. Farallon Capital Management LLC now owns 645,000 shares of the company’s stock valued at $32,444,000 after acquiring an additional 195,000 shares in the last quarter. Two Sigma Investments LP grew its stake in Ionis Pharmaceuticals by 3,164.1% during the 4th quarter. Two Sigma Investments LP now owns 170,160 shares of the company’s stock valued at $8,559,000 after acquiring an additional 164,947 shares in the last quarter. Tocqueville Asset Management L.P. grew its stake in Ionis Pharmaceuticals by 19.3% during the 4th quarter. Tocqueville Asset Management L.P. now owns 841,724 shares of the company’s stock valued at $42,339,000 after acquiring an additional 136,317 shares in the last quarter. Tekla Capital Management LLC purchased a new stake in Ionis Pharmaceuticals during the 4th quarter valued at about $6,485,000. Finally, ARK Investment Management LLC grew its stake in Ionis Pharmaceuticals by 49.9% during the 4th quarter. ARK Investment Management LLC now owns 370,835 shares of the company’s stock valued at $18,653,000 after acquiring an additional 123,372 shares in the last quarter. 90.71% of the stock is owned by institutional investors.

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Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.

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