Ionis Pharmaceuticals Inc. (IONS) Short Interest Down 9.5% in September
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 12,673,799 shares, a decrease of 9.5% from the August 31st total of 14,002,218 shares. Approximately 10.6% of the company’s stock are sold short. Based on an average trading volume of 1,589,909 shares, the days-to-cover ratio is presently 8.0 days.
In other news, COO B Lynne Parshall sold 12,500 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $29.88, for a total transaction of $373,500.00. Following the completion of the transaction, the chief operating officer now directly owns 25,558 shares in the company, valued at approximately $763,673.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Stanley T. Crooke sold 22,000 shares of the stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $35.50, for a total value of $781,000.00. Following the transaction, the chairman now owns 45,029 shares of the company’s stock, valued at $1,598,529.50. The disclosure for this sale can be found here. 1.86% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in IONS. AQR Capital Management LLC raised its position in shares of Ionis Pharmaceuticals by 372.6% in the second quarter. AQR Capital Management LLC now owns 1,858,239 shares of the company’s stock worth $43,278,000 after buying an additional 1,465,004 shares during the period. State Street Corp raised its position in shares of Ionis Pharmaceuticals by 39.8% in the second quarter. State Street Corp now owns 4,246,911 shares of the company’s stock worth $98,915,000 after buying an additional 1,209,523 shares during the period. Norges Bank purchased a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth $63,121,000. Fiera Capital Corp purchased a new position in shares of Ionis Pharmaceuticals during the second quarter worth $22,326,000. Finally, BVF Inc. IL purchased a new position in shares of Ionis Pharmaceuticals during the second quarter worth $19,797,000. Institutional investors own 89.58% of the company’s stock.
Shares of Ionis Pharmaceuticals (NASDAQ:IONS) opened at 36.20 on Thursday. Ionis Pharmaceuticals has a 12 month low of $19.59 and a 12 month high of $65.34. The firm’s market capitalization is $4.38 billion. The firm has a 50-day moving average price of $32.54 and a 200 day moving average price of $32.40.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.05. The firm had revenue of $38.50 million for the quarter, compared to analyst estimates of $38.52 million. Ionis Pharmaceuticals had a negative return on equity of 126.88% and a negative net margin of 128.94%. The business’s quarterly revenue was down 68.0% compared to the same quarter last year. On average, analysts anticipate that Ionis Pharmaceuticals will post ($1.07) EPS for the current fiscal year.
Several research firms have recently commented on IONS. Janney Montgomery Scott began coverage on Ionis Pharmaceuticals in a research note on Wednesday. They set a “buy” rating for the company. Piper Jaffray Cos. reiterated an “overweight” rating and set a $46.00 target price on shares of Ionis Pharmaceuticals in a research note on Monday. Wells Fargo & Co. reiterated a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Sunday, September 11th. Cowen and Company reiterated a “market perform” rating on shares of Ionis Pharmaceuticals in a research note on Saturday, August 13th. Finally, Zacks Investment Research cut Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $41.82.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
Receive News & Stock Ratings for Ionis Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.