Ionis Pharmaceuticals Target of Unusually Large Options Trading (IONS)

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

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

In other Ionis Pharmaceuticals news, COO B Lynne Parshall sold 16,118 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 33,526 shares of the company’s stock, valued at $2,179,190. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP C Frank Bennett sold 12,250 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $65.00, for a total value of $796,250.00. Following the completion of the sale, the senior vice president now directly owns 27,291 shares of the company’s stock, valued at approximately $1,773,915. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,781 shares of company stock valued at $5,733,330. 2.13% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in IONS. Steward Partners Investment Advisory LLC bought a new position in shares of Ionis Pharmaceuticals during the third quarter valued at approximately $100,000. Hanseatic Management Services Inc. raised its holdings in shares of Ionis Pharmaceuticals by 1.2% during the second quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock valued at $177,000 after acquiring an additional 41 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Ionis Pharmaceuticals by 60.3% during the third quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock valued at $182,000 after acquiring an additional 1,250 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Ionis Pharmaceuticals by 9.1% during the second quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock valued at $190,000 after acquiring an additional 311 shares in the last quarter. Finally, WFG Advisors LP raised its holdings in shares of Ionis Pharmaceuticals by 77.2% during the second quarter. WFG Advisors LP now owns 3,800 shares of the company’s stock valued at $193,000 after acquiring an additional 1,655 shares in the last quarter. Institutional investors own 91.40% of the company’s stock.

IONS has been the subject of several recent research reports. Stifel Nicolaus reiterated a “hold” rating and issued a $50.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday, October 13th. Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a research report on Friday, October 27th. BidaskClub upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Morgan Stanley boosted their price objective on Ionis Pharmaceuticals from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 8th. Finally, BMO Capital Markets boosted their price objective on Ionis Pharmaceuticals from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Ionis Pharmaceuticals has a consensus rating of “Hold” and an average target price of $50.76.

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About Ionis Pharmaceuticals

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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