Shares of Ionis Pharmaceuticals (NASDAQ:IONS) were up 5.8% during mid-day trading on Friday . The stock traded as high as $50.44 and last traded at $48.51. Approximately 4,731,654 shares traded hands during trading, an increase of 330% from the average daily volume of 1,101,373 shares. The stock had previously closed at $45.85.
Several analysts have issued reports on IONS shares. BidaskClub raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, March 9th. TheStreet downgraded shares of Ionis Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Tuesday, February 27th. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. ValuEngine raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Finally, Stifel Nicolaus boosted their target price on shares of Ionis Pharmaceuticals from $55.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $52.15.
The company has a current ratio of 5.20, a quick ratio of 5.15 and a debt-to-equity ratio of 1.45. The firm has a market cap of $5,774.09, a P/E ratio of 606.38 and a beta of 2.49.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.10. Ionis Pharmaceuticals had a negative net margin of 1.18% and a negative return on equity of 1.94%. The business had revenue of $172.00 million for the quarter, compared to analysts’ expectations of $126.38 million. During the same period in the previous year, the company posted $0.33 EPS. Ionis Pharmaceuticals’s revenue was up 7.5% on a year-over-year basis. sell-side analysts forecast that Ionis Pharmaceuticals will post -0.13 EPS for the current year.
In other news, Chairman Stanley T. Crooke sold 13,962 shares of the business’s stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $44.40, for a total transaction of $619,912.80. Following the transaction, the chairman now directly owns 56,714 shares in the company, valued at approximately $2,518,101.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Patrick R. O’neil sold 645 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $55.00, for a total transaction of $35,475.00. Following the transaction, the senior vice president now owns 15,097 shares in the company, valued at $830,335. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,462 shares of company stock worth $2,637,323. 2.13% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. AXA purchased a new position in shares of Ionis Pharmaceuticals during the 3rd quarter valued at $5,202,000. Bailard Inc. purchased a new position in shares of Ionis Pharmaceuticals during the 4th quarter valued at $292,000. California Public Employees Retirement System grew its holdings in shares of Ionis Pharmaceuticals by 1.6% during the 3rd quarter. California Public Employees Retirement System now owns 222,900 shares of the company’s stock valued at $11,301,000 after acquiring an additional 3,600 shares in the last quarter. Farallon Capital Management LLC grew its holdings in shares of 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. Finally, Icon Wealth Partners LLC purchased a new position in shares of Ionis Pharmaceuticals during the 4th quarter valued at $182,000. Institutional investors and hedge funds own 90.91% of the company’s stock.
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About Ionis Pharmaceuticals
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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