Short Interest in Ionis Pharmaceuticals Inc (NASDAQ:IONS) Decreases By 6.7%

Share on StockTwits

Ionis Pharmaceuticals Inc (NASDAQ:IONS) saw a significant decrease in short interest in September. As of September 30th, there was short interest totalling 10,510,000 shares, a decrease of 6.7% from the August 30th total of 11,260,000 shares. Currently, 8.2% of the shares of the company are sold short. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is presently 10.1 days.

Shares of Ionis Pharmaceuticals stock traded down $1.25 during trading on Thursday, hitting $56.37. The stock had a trading volume of 1,002,433 shares, compared to its average volume of 1,153,982. The company has a debt-to-equity ratio of 0.45, a current ratio of 10.01 and a quick ratio of 9.93. The firm has a market cap of $8.79 billion, a P/E ratio of 19.04 and a beta of 1.95. The business has a fifty day moving average of $61.81 and a two-hundred day moving average of $67.37. Ionis Pharmaceuticals has a fifty-two week low of $44.60 and a fifty-two week high of $86.58.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.26. The business had revenue of $164.00 million during the quarter, compared to analyst estimates of $145.31 million. Ionis Pharmaceuticals had a return on equity of 38.70% and a net margin of 49.90%. The company’s revenue was up 39.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.29) earnings per share. As a group, research analysts forecast that Ionis Pharmaceuticals will post -0.04 earnings per share for the current year.

Several research analysts have recently issued reports on IONS shares. Morgan Stanley decreased their price target on Ionis Pharmaceuticals from $68.00 to $63.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. ValuEngine cut Ionis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Cowen reissued a “hold” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday. Wells Fargo & Co increased their price target on Ionis Pharmaceuticals from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein raised Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $76.00.

In other news, Chairman Stanley T. Crooke sold 22,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $71.52, for a total value of $1,573,440.00. Following the completion of the transaction, the chairman now owns 79,634 shares of the company’s stock, valued at $5,695,423.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in IONS. First Trust Advisors LP increased its position in Ionis Pharmaceuticals by 16.7% during the 1st quarter. First Trust Advisors LP now owns 2,591,839 shares of the company’s stock valued at $210,380,000 after purchasing an additional 370,977 shares during the period. Belpointe Asset Management LLC purchased a new position in shares of Ionis Pharmaceuticals in the 1st quarter worth approximately $120,000. DNB Asset Management AS purchased a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $872,000. WINTON GROUP Ltd purchased a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $465,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $365,000. Institutional investors and hedge funds own 89.03% of the company’s stock.

Ionis Pharmaceuticals Company Profile

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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

Further Reading: Mutual funds are not immune from market timing

Receive News & Ratings for Ionis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.