Short Interest in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Drops By 16.1%

Ionis Pharmaceuticals, Inc. (NASDAQ:IONSGet Rating) was the recipient of a large decrease in short interest in May. As of May 31st, there was short interest totalling 5,990,000 shares, a decrease of 16.1% from the May 15th total of 7,140,000 shares. Approximately 4.3% of the shares of the company are short sold. Based on an average trading volume of 1,090,000 shares, the short-interest ratio is currently 5.5 days.

Shares of IONS stock traded up $1.87 during trading hours on Friday, reaching $35.60. The company’s stock had a trading volume of 16,421 shares, compared to its average volume of 992,447. The company has a quick ratio of 9.76, a current ratio of 9.86 and a debt-to-equity ratio of 1.76. Ionis Pharmaceuticals has a fifty-two week low of $25.04 and a fifty-two week high of $44.42. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of -168.64 and a beta of 0.78. The firm’s 50 day simple moving average is $37.65 and its 200-day simple moving average is $34.24.

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) last posted its earnings results on Wednesday, May 4th. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.22. Ionis Pharmaceuticals had a negative net margin of 0.36% and a negative return on equity of 0.46%. The firm had revenue of $142.00 million during the quarter, compared to analysts’ expectations of $122.46 million. During the same quarter in the prior year, the business earned ($0.64) earnings per share. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. Sell-side analysts predict that Ionis Pharmaceuticals will post -2.39 earnings per share for the current year.

In related news, EVP Patrick R. O’neil sold 6,792 shares of the firm’s stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $40.06, for a total transaction of $272,087.52. Following the completion of the sale, the executive vice president now directly owns 34,536 shares of the company’s stock, valued at approximately $1,383,512.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 7,525 shares of company stock valued at $302,085. Insiders own 2.40% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Glassman Wealth Services grew its stake in shares of Ionis Pharmaceuticals by 61.0% during the first quarter. Glassman Wealth Services now owns 681 shares of the company’s stock worth $25,000 after buying an additional 258 shares during the last quarter. Xponance Inc. raised its holdings in shares of Ionis Pharmaceuticals by 2.2% during the fourth quarter. Xponance Inc. now owns 14,890 shares of the company’s stock valued at $453,000 after purchasing an additional 318 shares during the period. Advisor Group Holdings Inc. boosted its position in shares of Ionis Pharmaceuticals by 2.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 19,566 shares of the company’s stock worth $728,000 after purchasing an additional 419 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Ionis Pharmaceuticals by 7.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,366 shares of the company’s stock valued at $273,000 after buying an additional 492 shares during the period. Finally, HighTower Advisors LLC increased its position in Ionis Pharmaceuticals by 6.0% in the 3rd quarter. HighTower Advisors LLC now owns 9,857 shares of the company’s stock valued at $334,000 after buying an additional 554 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently issued reports on IONS. Piper Sandler raised their price target on Ionis Pharmaceuticals from $54.00 to $55.00 in a research report on Friday, June 10th. Citigroup began coverage on Ionis Pharmaceuticals in a research report on Monday, February 28th. They issued a “sell” rating and a $26.00 price target on the stock. StockNews.com lowered Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, May 13th. TheStreet downgraded Ionis Pharmaceuticals from a “c-” rating to a “d” rating in a report on Monday, June 6th. Finally, SVB Leerink dropped their target price on Ionis Pharmaceuticals from $29.00 to $26.00 and set a “market perform” rating on the stock in a report on Friday, April 1st. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $43.33.

About Ionis Pharmaceuticals (Get Rating)

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 injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy.

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