Ionis Pharmaceuticals (IONS) Shares Down 7.7%

Shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) were down 7.7% during trading on Monday . The company traded as low as $44.16 and last traded at $45.00. Approximately 3,512,274 shares traded hands during trading, an increase of 207% from the average daily volume of 1,142,966 shares. The stock had previously closed at $48.73.

A number of analysts have commented on IONS shares. Barclays lowered shares of Ionis Pharmaceuticals from an “equal weight” rating to an “underweight” rating and set a $52.00 target price for the company. in a report on Wednesday, June 20th. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $52.00 target price for the company in a report on Tuesday, July 10th. Piper Jaffray Companies set a $50.00 target price on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a report on Wednesday, July 11th. Stifel Nicolaus decreased their price target on shares of Ionis Pharmaceuticals from $55.00 to $48.00 and set a “hold” rating for the company in a report on Tuesday, August 7th. Finally, Morgan Stanley decreased their price target on shares of Ionis Pharmaceuticals from $51.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Ionis Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $55.13.

The firm has a market cap of $7.08 billion, a PE ratio of 577.75 and a beta of 2.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 8.34 and a current ratio of 8.38.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Tuesday, August 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.20). Ionis Pharmaceuticals had a negative net margin of 7.20% and a negative return on equity of 1.22%. The firm had revenue of $117.75 million during the quarter, compared to analyst estimates of $128.22 million. On average, equities research analysts anticipate that Ionis Pharmaceuticals Inc will post -0.38 earnings per share for the current year.

In other news, COO Brett P. Monia sold 16,493 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $54.00, for a total value of $890,622.00. Following the completion of the transaction, the chief operating officer now owns 24,834 shares of the company’s stock, valued at approximately $1,341,036. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP C Frank Bennett sold 12,500 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $45.00, for a total transaction of $562,500.00. Following the completion of the transaction, the senior vice president now directly owns 19,409 shares of the company’s stock, valued at approximately $873,405. The disclosure for this sale can be found here. Insiders sold a total of 29,149 shares of company stock valued at $1,460,459 in the last three months. 2.44% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in IONS. Baillie Gifford & Co. lifted its position in Ionis Pharmaceuticals by 48.2% in the 2nd quarter. Baillie Gifford & Co. now owns 9,279,730 shares of the company’s stock valued at $386,687,000 after acquiring an additional 3,017,079 shares in the last quarter. Summit Trail Advisors LLC lifted its position in Ionis Pharmaceuticals by 2,960.4% in the 1st quarter. Summit Trail Advisors LLC now owns 523,108 shares of the company’s stock valued at $523,000 after acquiring an additional 506,015 shares in the last quarter. First Light Asset Management LLC lifted its position in Ionis Pharmaceuticals by 1,064.2% in the 2nd quarter. First Light Asset Management LLC now owns 494,347 shares of the company’s stock valued at $20,599,000 after acquiring an additional 451,883 shares in the last quarter. Peregrine Capital Management LLC bought a new stake in Ionis Pharmaceuticals in the 2nd quarter valued at $13,616,000. Finally, Motley Fool Wealth Management LLC lifted its position in Ionis Pharmaceuticals by 62.7% in the 2nd quarter. Motley Fool Wealth Management LLC now owns 535,296 shares of the company’s stock valued at $22,306,000 after acquiring an additional 206,322 shares in the last quarter. 85.55% of the stock is owned by institutional investors.

Ionis Pharmaceuticals Company Profile (NASDAQ:IONS)

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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