Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Get Free Report) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 9,700,000 shares, a growth of 6.2% from the October 15th total of 9,130,000 shares. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is currently 9.6 days. Currently, 6.9% of the shares of the stock are sold short.
Ionis Pharmaceuticals Stock Up 0.9 %
NASDAQ:IONS opened at $48.97 on Friday. The company has a debt-to-equity ratio of 4.06, a current ratio of 6.39 and a quick ratio of 6.33. The firm’s 50-day moving average price is $45.56 and its 200-day moving average price is $41.99. The company has a market capitalization of $7.03 billion, a PE ratio of -17.06 and a beta of 0.46. Ionis Pharmaceuticals has a 1-year low of $32.69 and a 1-year high of $50.39.
Insider Activity at Ionis Pharmaceuticals
In other news, Director B Lynne Parshall sold 10,000 shares of the stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $45.13, for a total value of $451,300.00. Following the transaction, the director now owns 82,588 shares of the company’s stock, valued at approximately $3,727,196.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP C Frank Bennett sold 4,460 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $46.50, for a total value of $207,390.00. Following the completion of the sale, the executive vice president now directly owns 65,754 shares in the company, valued at approximately $3,057,561. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director B Lynne Parshall sold 10,000 shares of the stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $45.13, for a total transaction of $451,300.00. Following the transaction, the director now directly owns 82,588 shares in the company, valued at approximately $3,727,196.44. The disclosure for this sale can be found here. Insiders have sold 20,282 shares of company stock valued at $934,603 over the last three months. 2.65% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Ionis Pharmaceuticals
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Friday. William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Monday, November 13th. Bank of America upgraded shares of Ionis Pharmaceuticals from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $33.00 to $52.00 in a report on Monday, October 23rd. Citigroup raised Ionis Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price target for the company from $36.00 to $60.00 in a research report on Monday, July 31st. Finally, StockNews.com upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, November 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $48.23.
About Ionis Pharmaceuticals
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; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.
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