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

A number of analysts recently commented on the company. Leerink Swann reaffirmed a “hold” rating on shares of Ionis Pharmaceuticals in a research note on Saturday, April 9th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Ionis Pharmaceuticals in a research note on Sunday, May 29th. Jefferies Group reaffirmed a “sell” rating on shares of Ionis Pharmaceuticals in a research note on Sunday, May 29th. BMO Capital Markets lowered Ionis Pharmaceuticals from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $55.00 to $26.00 in a research report on Friday, May 27th. Finally, Zacks Investment Research raised Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Wednesday, April 27th. Three 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. The company has an average rating of “Hold” and a consensus price target of $36.90.

The firm’s market capitalization is $3.39 billion. The company has a 50 day moving average of $23.70 and a 200-day moving average of $35.33.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.52) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by $0.02. The business earned $36.90 million during the quarter, compared to the consensus estimate of $36.21 million. The firm’s revenue was down 41.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.14) earnings per share. Analysts predict that Ionis Pharmaceuticals Inc. will post ($1.49) earnings per share for the current fiscal year.

In other Ionis Pharmaceuticals news, Director Frederick T. Muto sold 12,500 shares of the company’s stock in a transaction on Tuesday, May 31st. The stock was 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 of the company’s stock, valued at approximately $335,609.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Other large investors have recently modified their holdings of the company. Russell Frank Co purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter valued at $1,823,000. Neuberger Berman Group LLC purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter valued at $1,039,000. Rhumbline Advisers purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter valued at $8,110,000. TD Asset Management Inc. purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter valued at $1,146,000. Finally, California Public Employees Retirement System purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter valued at $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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