Ionis Pharmaceuticals Inc. (IONS) Sees Large Volume Increase
Shares of Ionis Pharmaceuticals Inc. (NASDAQ:IONS) saw an uptick in trading volume on Monday . 1,988,025 shares traded hands 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 firms recently issued reports on IONS. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Ionis Pharmaceuticals in a research report on Thursday, April 7th. BMO Capital Markets began coverage on Ionis Pharmaceuticals in a research report on Thursday, April 7th. They issued an “outperform” rating and a $55.00 price objective on the stock. Zacks Investment Research raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Wednesday, April 27th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Ionis Pharmaceuticals in a report on Monday, May 2nd. Finally, Leerink Swann reissued a “hold” rating on shares of Ionis Pharmaceuticals in a report on Saturday, April 9th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $36.90.
The stock has a 50 day moving average price of $23.57 and a 200 day moving average price of $35.39. The firm’s market capitalization is $3.30 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates 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. Ionis Pharmaceuticals’s revenue was down 41.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.14) earnings per share. Equities research analysts expect that Ionis Pharmaceuticals Inc. will post ($1.49) earnings per share for the current fiscal year.
In other news, Director Frederick T. Muto sold 12,500 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $22.31, for a total transaction of $278,875.00. Following 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 Securities & Exchange Commission, which is available through this link.
Several large investors recently made changes to their positions in the stock. Baillie Gifford & Co. bought a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth $500,302,000. BB Biotech AG bought a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth $404,393,000. Pinnacle Associates Ltd. bought a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth $104,678,000. New York State Common Retirement Fund bought a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth $25,085,000. Finally, California Public Employees Retirement System bought a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth $16,963,000.
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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