Ionis Pharmaceuticals Inc. (NASDAQ:IONS) fell 3.8% on Tuesday . The stock traded as low as $26.62 and last traded at $26.64, with a volume of 1,058,505 shares trading hands. The stock had previously closed at $27.69.

Several research firms recently weighed in on IONS. Leerink Swann reiterated a “hold” rating on shares of Ionis Pharmaceuticals in a research note on Saturday, April 9th. Jefferies Group restated a “sell” rating on shares of Ionis Pharmaceuticals in a research note on Sunday, May 29th. JPMorgan Chase & Co. restated a “hold” rating on shares of Ionis Pharmaceuticals in a research note on Sunday, May 29th. BMO Capital Markets cut shares of Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $55.00 to $26.00 in a research note on Friday, May 27th. Finally, Cowen and Company restated a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, May 4th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $36.90.

The company’s market capitalization is $3.22 billion. The firm’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 results on Wednesday, May 4th. The company reported ($0.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.50) by $0.02. The company had revenue of $36.90 million for the quarter, compared to analyst estimates of $36.21 million. The business’s revenue was down 41.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.14) EPS. On average, equities research analysts expect that Ionis Pharmaceuticals Inc. will post ($1.49) EPS for the current year.

In related news, Director Frederick T. Muto sold 12,500 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $22.31, for a total value of $278,875.00. Following the transaction, the director now owns 15,043 shares in the company, valued at approximately $335,609.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Several hedge funds and institutional investors have made changes to their positions in IONS. Starfire Investment Advisers Inc. acquired a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth about $1,025,000. Neuberger Berman Group LLC acquired a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth about $1,039,000. Bank of Montreal Can acquired a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth about $1,060,000. TD Asset Management Inc. acquired a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth about $1,146,000. Finally, Oxford Asset Management acquired a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth about $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.

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