Ionis Pharmaceuticals, Inc. (IONS) Short Interest Update
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) saw a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 10,235,812 shares, a decrease of 11.1% from the August 31st total of 11,514,444 shares. Approximately 8.3% of the company’s stock are short sold. Based on an average daily volume of 948,653 shares, the short-interest ratio is currently 10.8 days.
In other news, Chairman Stanley T. Crooke sold 16,500 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $52.45, for a total value of $865,425.00. Following the transaction, the chairman now directly owns 53,014 shares of the company’s stock, valued at $2,780,584.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ionis Pharmaceuticals Inc purchased 3,125,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was bought at an average cost of $8.00 per share, for a total transaction of $25,000,000.00. Following the completion of the purchase, the insider now directly owns 28,884,540 shares of the company’s stock, valued at approximately $231,076,320. The disclosure for this purchase can be found here. Insiders sold a total of 38,500 shares of company stock worth $2,122,175 in the last quarter. 1.86% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the business. Intl Fcstone Inc. bought a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter worth approximately $598,000. WFG Advisors LP boosted its holdings in shares of Ionis Pharmaceuticals by 77.2% in the 2nd quarter. WFG Advisors LP now owns 3,800 shares of the company’s stock valued at $193,000 after buying an additional 1,655 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter valued at approximately $381,000. Verition Fund Management LLC acquired a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter valued at approximately $742,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter valued at approximately $1,526,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.
Ionis Pharmaceuticals (NASDAQ IONS) opened at 50.70 on Monday. The company has a market cap of $6.30 billion, a P/E ratio of 243.75 and a beta of 3.13. The company has a 50-day moving average of $51.73 and a 200 day moving average of $48.15. Ionis Pharmaceuticals has a one year low of $24.58 and a one year high of $60.01.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The company had revenue of $104.15 million for the quarter, compared to the consensus estimate of $93.29 million. During the same quarter in the previous year, the company posted ($0.47) EPS. The business’s revenue was up 170.7% on a year-over-year basis. Equities research analysts predict that Ionis Pharmaceuticals will post ($0.17) EPS for the current year.
Several research analysts have weighed in on IONS shares. TheStreet raised Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research report on Wednesday, July 5th. Stifel Nicolaus reiterated a “hold” rating and set a $42.00 price target on shares of Ionis Pharmaceuticals in a report on Monday, July 10th. Zacks Investment Research upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Wednesday, July 12th. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price target (up previously from $59.00) on shares of Ionis Pharmaceuticals in a research note on Wednesday, July 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $64.00 price target on shares of Ionis Pharmaceuticals in a research note on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Ionis Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $49.11.
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Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.
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