Ionis Pharmaceuticals Inc (NASDAQ:IONS) shot up 5.2% on Tuesday . The stock traded as high as $47.54 and last traded at $47.49. 873,622 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 1,143,628 shares. The stock had previously closed at $45.13.

Several brokerages have recently weighed in on IONS. Stifel Nicolaus reduced their target price on shares of Ionis Pharmaceuticals from $47.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, August 28th. Piper Jaffray Companies set a $50.00 price target on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a report on Wednesday, July 11th. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 17th. Morgan Stanley cut their price target on shares of Ionis Pharmaceuticals from $51.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 8th. Finally, Barclays cut shares of Ionis Pharmaceuticals from an “equal weight” rating to an “underweight” rating and set a $52.00 price target on the stock. in a report on Wednesday, June 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $53.86.

The company has a debt-to-equity ratio of 0.76, a quick ratio of 8.34 and a current ratio of 8.38. The firm has a market capitalization of $7.08 billion, a PE ratio of 584.63 and a beta of 2.43.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Tuesday, August 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.20). Ionis Pharmaceuticals had a negative return on equity of 1.22% and a negative net margin of 7.20%. The business had revenue of $117.75 million for the quarter, compared to the consensus estimate of $128.22 million. On average, equities analysts expect that Ionis Pharmaceuticals Inc will post -0.38 EPS for the current year.

In other Ionis Pharmaceuticals news, COO Brett P. Monia sold 16,493 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $54.00, for a total transaction of $890,622.00. Following the transaction, the chief operating officer now directly owns 24,834 shares in the company, valued at approximately $1,341,036. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP C Frank Bennett sold 12,500 shares of the stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $45.00, for a total transaction of $562,500.00. Following the transaction, the senior vice president now owns 19,409 shares in the company, valued at $873,405. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,149 shares of company stock worth $1,460,459. 2.44% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of IONS. Rockefeller Capital Management L.P. bought a new position in Ionis Pharmaceuticals during the 2nd quarter worth about $156,000. Clarus Wealth Advisors grew its holdings in Ionis Pharmaceuticals by 200.0% during the 3rd quarter. Clarus Wealth Advisors now owns 3,600 shares of the company’s stock worth $186,000 after acquiring an additional 2,400 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Ionis Pharmaceuticals during the 2nd quarter worth about $212,000. Mizuho Securities USA LLC bought a new position in Ionis Pharmaceuticals during the 2nd quarter worth about $263,000. Finally, Atria Investments LLC bought a new position in Ionis Pharmaceuticals during the 3rd quarter worth about $365,000. Institutional investors own 85.55% of the company’s stock.

About Ionis Pharmaceuticals (NASDAQ:IONS)

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.

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