Ionis Pharmaceuticals Inc. (NASDAQ:IONS) traded down 2.1% on Friday . The stock traded as low as $35.26 and last traded at $35.85, with a volume of 1,836,503 shares. The stock had previously closed at $36.63.

Several equities research analysts have weighed in on the company. Piper Jaffray Cos. reissued a “buy” rating on shares of Ionis Pharmaceuticals in a report on Thursday, April 7th. BMO Capital Markets assumed coverage on Ionis Pharmaceuticals in a report on Thursday, April 7th. They issued an “outperform” rating and a $55.00 price target for the company. Zacks Investment Research raised 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. 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Ionis Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $40.82.

The firm’s 50-day moving average is $26.99 and its 200 day moving average is $33.81. The company’s market capitalization is $4.36 billion.

In related news, Director Frederick T. Muto sold 12,500 shares of the company’s stock in a transaction dated Tuesday, May 31st. The stock was 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 approximately $335,609.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Several hedge funds have recently made changes to their positions in IONS. BlackRock Advisors LLC purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth about $76,845,000. Morgan Stanley purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth about $11,017,000. Mizuho Trust & Banking Co. Ltd. purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth about $10,501,000. Marshall Wace LLP purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth about $7,947,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of Ionis Pharmaceuticals during the fourth quarter worth about $6,193,000.

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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