Traders Sell Ionis Pharmaceuticals Inc. (IONS) on Strength (IONS)
Investors sold shares of Ionis Pharmaceuticals Inc. (NASDAQ:IONS) on strength during trading hours on Monday. $222.59 million flowed into the stock on the tick-up and $239.32 million flowed out of the stock on the tick-down, for a money net flow of $16.73 million out of the stock. Of all companies tracked, Ionis Pharmaceuticals had the 0th highest net out-flow for the day. Ionis Pharmaceuticals traded up $8.82 for the day and closed at $38.01
A number of research analysts recently weighed in on IONS shares. Zacks Investment Research downgraded shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Barclays PLC lowered their price objective on shares of Ionis Pharmaceuticals from $42.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Friday, May 27th. Jefferies Group restated an “underperform” rating and set a $12.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday, July 15th. Needham & Company LLC increased their price objective on shares of Ionis Pharmaceuticals to $64.00 in a research report on Monday. Finally, BMO Capital Markets restated a “market perform” rating and set a $26.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday, July 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $39.20.
The stock’s market capitalization is $4.59 billion. The stock has a 50 day moving average price of $25.32 and a 200 day moving average price of $33.79.
In other news, Director Frederick T. Muto sold 12,500 shares of Ionis Pharmaceuticals stock in a transaction that occurred 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 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 legal filing with the SEC, which can be accessed through this link.
Several hedge funds and institutional investors have recently modified their holdings of IONS. Russell Frank Co purchased a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth about $1,823,000. TD Asset Management Inc. bought a new stake in Ionis Pharmaceuticals during the fourth quarter valued at $1,146,000. PNC Financial Services Group Inc. bought a new stake in Ionis Pharmaceuticals during the fourth quarter valued at $1,717,000. Mizuho Trust & Banking Co. Ltd. bought a new stake in Ionis Pharmaceuticals during the fourth quarter valued at $10,501,000. Finally, Morgan Stanley bought a new stake in Ionis Pharmaceuticals during the fourth quarter valued at $11,017,000.
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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