Ionis Pharmaceuticals Target of Unusually Large Options Trading (IONS)

Ionis Pharmaceuticals Inc (NASDAQ:IONS) was the target of unusually large options trading on Thursday. Investors purchased 2,727 put options on the stock. This represents an increase of approximately 1,180% compared to the average daily volume of 213 put options.

Several brokerages recently issued reports on IONS. Needham & Company LLC reiterated a “buy” rating and set a $64.00 price target on shares of Ionis Pharmaceuticals in a report on Tuesday, October 17th. Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $68.00 price target for the company in a report on Tuesday, October 17th. Stifel Nicolaus reiterated a “hold” rating and set a $50.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, October 13th. Goldman Sachs Group reiterated a “sell” rating and set a $30.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, October 6th. Finally, BMO Capital Markets upped their price target on Ionis Pharmaceuticals from $64.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $50.76.

Ionis Pharmaceuticals (NASDAQ IONS) opened at $53.22 on Friday. The stock has a market capitalization of $6,635.38, a price-to-earnings ratio of 354.82 and a beta of 2.86. The company has a debt-to-equity ratio of 1.50, a current ratio of 6.25 and a quick ratio of 6.21. Ionis Pharmaceuticals has a 12 month low of $37.26 and a 12 month high of $65.51.

In related news, SVP C Frank Bennett sold 12,250 shares of the company’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $65.00, for a total transaction of $796,250.00. Following the completion of the sale, the senior vice president now owns 27,291 shares in the company, valued at $1,773,915. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO B Lynne Parshall sold 16,118 shares of the company’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $65.00, for a total value of $1,047,670.00. Following the sale, the chief operating officer now owns 33,526 shares of the company’s stock, valued at approximately $2,179,190. The disclosure for this sale can be found here. Insiders have sold 102,781 shares of company stock valued at $5,733,330 in the last quarter. 2.13% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Ionis Pharmaceuticals by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 9,855,160 shares of the company’s stock valued at $501,332,000 after purchasing an additional 417,364 shares during the period. BlackRock Inc. grew its stake in Ionis Pharmaceuticals by 4.0% in the 2nd quarter. BlackRock Inc. now owns 6,823,987 shares of the company’s stock valued at $347,135,000 after purchasing an additional 264,179 shares during the period. American Century Companies Inc. lifted its position in shares of Ionis Pharmaceuticals by 33.0% during the 3rd quarter. American Century Companies Inc. now owns 1,144,526 shares of the company’s stock valued at $58,027,000 after buying an additional 284,266 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Ionis Pharmaceuticals by 40.2% during the 3rd quarter. First Trust Advisors LP now owns 982,344 shares of the company’s stock valued at $49,805,000 after buying an additional 281,733 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Ionis Pharmaceuticals by 7.8% during the 2nd quarter. Northern Trust Corp now owns 621,816 shares of the company’s stock valued at $31,631,000 after buying an additional 44,750 shares during the last quarter. Hedge funds and other institutional investors own 91.40% of the company’s stock.

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Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is engaged 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 Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.

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