Ionis Pharmaceuticals Inc. (IONS) Sees Strong Trading Volume
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) saw unusually-strong trading volume on Monday . Approximately 1,988,025 shares were traded during mid-day trading, a decline of 4% from the previous session’s volume of 2,073,234 shares.The stock last traded at $28.11 and had previously closed at $27.28.
Several research analysts have commented on IONS shares. Piper Jaffray Cos. reissued a “buy” rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, May 5th. Cowen and Company reissued a “buy” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, May 4th. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Wednesday, April 27th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target (down from $88.00) on shares of Ionis Pharmaceuticals in a report on Thursday, May 26th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Ionis Pharmaceuticals in a report on Thursday, May 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $36.90.
The stock’s market cap is $3.34 billion. The stock’s 50-day moving average price is $23.48 and its 200-day moving average price is $35.45.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.50) by $0.02. The firm had revenue of $36.90 million for the quarter, compared to analysts’ expectations of $36.21 million. During the same period in the previous year, the business posted ($0.14) earnings per share. Ionis Pharmaceuticals’s quarterly revenue was down 41.1% on a year-over-year basis. On average, equities analysts expect that Ionis Pharmaceuticals Inc. will post ($1.49) EPS for the current fiscal year.
In other news, Director Frederick T. Muto sold 12,500 shares of the stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $22.31, for a total value of $278,875.00. Following the completion of the sale, the director now directly owns 15,043 shares of the company’s stock, valued at $335,609.33. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Several hedge funds have recently made changes to their positions in IONS. Starfire Investment Advisers Inc. purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth about $1,025,000. Neuberger Berman Group LLC bought a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth $1,039,000. Bank of Montreal Can bought a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth $1,060,000. TD Asset Management Inc. bought a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth $1,146,000. Finally, Oxford Asset Management bought a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth $1,240,000.
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is a ribonucleic acid-targeted (RNA-targeted) drug discovery and development company. The Company is focused on discovering and developing antisense drugs. Its antisense drugs are used to treat a range of diseases, including cardiovascular; metabolic; severe and rare diseases, including neurological disorders, and cancer.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.