Shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) saw strong trading volume on Thursday . 4,164,729 shares were traded during mid-day trading, an increase of 266% from the previous session’s volume of 1,136,479 shares.The stock last traded at $62.22 and had previously closed at $61.69.
Several equities research analysts have weighed in on the stock. Oppenheimer assumed coverage on shares of Ionis Pharmaceuticals in a research note on Thursday. They issued a “buy” rating and a $77.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $87.00 price target on shares of Ionis Pharmaceuticals in a research note on Thursday, November 7th. ValuEngine raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Sanford C. Bernstein raised shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Tuesday, September 10th. Finally, Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Saturday, November 16th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Ionis Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $75.67.
The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 2.27 and a beta of 1.91. The business’s fifty day moving average price is $59.23 and its 200-day moving average price is $62.86. The company has a debt-to-equity ratio of 0.44, a current ratio of 10.39 and a quick ratio of 10.31.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.49. The firm had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $152.47 million. Ionis Pharmaceuticals had a net margin of 52.26% and a return on equity of 36.31%. The business’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. Equities research analysts predict that Ionis Pharmaceuticals Inc will post 1.99 earnings per share for the current fiscal year.
In related news, SVP Richard S. Geary sold 5,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $65.06, for a total transaction of $325,300.00. Following the transaction, the senior vice president now directly owns 26,583 shares in the company, valued at $1,729,489.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Elizabeth L. Hougen sold 4,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $58.80, for a total transaction of $235,200.00. Following the transaction, the chief financial officer now owns 24,055 shares in the company, valued at $1,414,434. The disclosure for this sale can be found here. Insiders have sold 38,154 shares of company stock valued at $2,397,122 over the last quarter. Corporate insiders own 2.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its holdings in Ionis Pharmaceuticals by 38.5% during the second quarter. Advisory Services Network LLC now owns 907 shares of the company’s stock worth $58,000 after purchasing an additional 252 shares during the last quarter. Great Point Partners LLC purchased a new position in Ionis Pharmaceuticals in the third quarter valued at about $16,176,000. Pacer Advisors Inc. purchased a new position in Ionis Pharmaceuticals in the second quarter valued at about $1,307,000. Raymond James Trust N.A. boosted its stake in Ionis Pharmaceuticals by 19.4% in the third quarter. Raymond James Trust N.A. now owns 5,337 shares of the company’s stock valued at $320,000 after acquiring an additional 866 shares during the last quarter. Finally, Quest Capital Management Inc. ADV purchased a new position in Ionis Pharmaceuticals in the third quarter valued at about $36,000. Institutional investors and hedge funds own 85.65% of the company’s stock.
Ionis Pharmaceuticals Company Profile (NASDAQ:IONS)
Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.
Recommended Story: Why are trading ranges significant?
Receive News & Ratings for Ionis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.