Ionis Pharmaceuticals (IONS) Stock Price Down 8.2%

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) shares traded down 8.2% on Tuesday . The company traded as low as $52.00 and last traded at $52.26. 1,246,500 shares changed hands during trading, a decline of 15% from the average session volume of 1,467,355 shares. The stock had previously closed at $56.93.

A number of research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price target on shares of Ionis Pharmaceuticals in a research note on Tuesday, October 17th. BidaskClub raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday. Jefferies Group reissued an “underperform” rating and set a $18.00 price objective (up from $17.00) on shares of Ionis Pharmaceuticals in a report on Thursday, August 10th. Laidlaw reissued a “buy” rating and set a $65.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday, August 14th. Finally, BMO Capital Markets boosted their price objective on Ionis Pharmaceuticals from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, August 14th. Three 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. The company currently has a consensus rating of “Hold” and an average price target of $50.31.

The firm has a market cap of $6,546.77, a price-to-earnings ratio of 349.73 and a beta of 2.85. The company has a debt-to-equity ratio of 1.50, a quick ratio of 6.21 and a current ratio of 6.25.

In related news, SVP Elizabeth L. Hougen sold 4,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $57.00, for a total value of $228,000.00. Following the sale, the senior vice president now owns 14,392 shares in the company, valued at $820,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO B Lynne Parshall sold 16,118 shares of the 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 completion of the sale, the chief operating officer now owns 33,526 shares in the company, valued at approximately $2,179,190. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,886 shares of company stock worth $7,098,315. Company insiders own 2.13% of the company’s stock.

Several hedge funds have recently modified their holdings of IONS. Steward Partners Investment Advisory LLC purchased a new stake in Ionis Pharmaceuticals during the third quarter valued at about $100,000. Parallel Advisors LLC raised its position in Ionis Pharmaceuticals by 62.8% during the second quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock valued at $109,000 after purchasing an additional 800 shares in the last quarter. Hanseatic Management Services Inc. raised its position in 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 purchasing an additional 41 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in 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 purchasing an additional 311 shares in the last quarter. Finally, WFG Advisors LP raised its position in 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 purchasing an additional 1,655 shares in the last quarter. Institutional investors own 91.59% 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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