In the market the company is trading down by 8.33% at $54.15 and is one of the laggers in today’s market. More than 2,140,831 shares have changed hands.
Ionis Pharmaceuticals, Inc. in the news.
Ionis Recommends Shareholders Reject The Below-The-Market Mini-Tender Offer By TRC Capital Corporation
Ionis Earns $40 Million SPINRAZA Regulatory Milestone Payment from Biogen
New Data Presented at European Society for Medical Oncology Meeting Demonstrate Antitumor Activity with IONIS-STAT3-2.5 Rx in Combination with Imfinzi.
It is trading at $54.15 barely above the 50 day moving average which is $51.73 and which is quite a bit above the 200 day moving average of $48.15. The 50 day moving average was up $2.42 or +4.68% and the 200 day average was up $6.00.
Short traders are more bullish recently as shown by the change in short interest. The firm saw a fall in short interest between August 15, 2017 and August 31, 2017 of -4.34%. Short shares fell 522,150 over that period. With short interest at 11,514,444 and short average daily volume at 868,077, days to cover is 13.0 and the short interest percentage is 0.09% as of August 31.
There has been some selling insider activity on Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) recently. Patrick R. O’neil, Sr VP sold $55,000 worth of shares at a price of $55.00 on Wed the 6th. That brings O’neil’s holdings to $573,815 per an SEC filing yesterday. C. Frank Bennett, SVP, Antisense Research disclosed the sale of 10,000 shares. The shares were purchased at an average price of $59.29. Bennett now owns $891,781 of the stock according to the SEC filing.
Chairman Stanley T. Crooke disclosed the sale of 11,000 shares of IONS stock. The shares were sold on July 20th for an average price of $55.35. The Chairman now owns $169,482 of the stock per the Form 4 SEC filing.
These funds have shifted positions in (IONS). Motley Fool Wealth Management, LLC expanded its stake by buying 16,364 shares an increase of 5.0% as of 06/30/2017. Motley Fool Wealth Management, LLC claims 342,329 shares worth $17,414,000. The total value of its holdings increased 32.9%. As of quarter end Bellevue Group Ag had bought 19,309 shares growing its holdings by 9.4%. The value in dollars increased from $8,251,000 to $11,423,000 increasing 38.4% quarter to quarter.
As of the end of the quarter Ironbridge Capital Management Lp had acquired a total of 5,970 shares growing its stake by 6.4%. The value of the company’s investment in Ionis Pharmaceuticals, Inc. went from $4,472,000 to $3,999,000 a change of 10.6% since the last quarter. Ubs Group Ag augmented its investment by buying 38,149 shares an increase of 127.9% in the quarter. Ubs Group Ag now holds 67,965 shares with a value of $3,457,000. The value of the position overall is up by 188.3%.
On September 7, 2017 Barclays starting coverage on IONS with a rating of “Equal-Weight”. On August 17 analysts at Evercore ISI Group released its first research report on the stock giving it an initial rating of “Outperform”.
August 14 investment analysts at BMO Capital held the stock rating at “Outperform” but raised the price expectation from $67.00 to $69.00. Bernstein issued its first research report on the stock with an initial rating of “Outperform”.
The company’s P/E ratio is 260.34 and the market cap of the company is 6.73B. In the latest earnings report the EPS was $0.21 and is expected to be $-0.17 for the current year with 124,354,000 shares outstanding. Next quarter’s EPS is forecasted to be $-0.09 and the next full year EPS is projected to be $0.08.
Ionis Pharmaceuticals, Inc., launched on March 25, 1991, is involved 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 Business’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is involved in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners. The Akcea Therapeutics segment includes the operations of the Business’s subsidiary, Akcea Therapeutics, Inc. (Akcea Therapeutics). Akcea Therapeutics is focused on developing and commercializing volanesorsen and other clinical-stage drugs for serious cardiometabolic diseases caused by lipid disorders..