Ionis Pharmaceuticals Target of Unusually Large Options Trading (IONS)

Ionis Pharmaceuticals Inc (NASDAQ:IONS) was the target of unusually large options trading on Thursday. Traders purchased 2,727 put options on the company. This represents an increase of approximately 1,180% compared to the average daily volume of 213 put options.

A number of research firms have recently commented on IONS. Needham & Company LLC reissued a “buy” rating and issued a $64.00 target price on shares of Ionis Pharmaceuticals in a research note on Tuesday, October 17th. Zacks Investment Research raised Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, October 17th. Stifel Nicolaus reissued a “hold” rating and issued a $50.00 target price on shares of Ionis Pharmaceuticals in a research note on Friday, October 13th. Goldman Sachs Group reissued a “sell” rating and issued a $30.00 target price on shares of Ionis Pharmaceuticals in a research note on Friday, October 6th. Finally, BMO Capital Markets increased their target price on Ionis Pharmaceuticals from $64.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $50.76.

Shares of Ionis Pharmaceuticals (NASDAQ:IONS) opened at $53.22 on Friday. The company has a current ratio of 6.25, a quick ratio of 6.21 and a debt-to-equity ratio of 1.50. Ionis Pharmaceuticals has a 12-month low of $37.26 and a 12-month high of $65.51. The company has a market capitalization of $6,635.38, a price-to-earnings ratio of 354.82 and a beta of 2.86.

In other news, Director Joseph Klein III sold 3,000 shares of the stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $50.56, for a total value of $151,680.00. Following the sale, the director now directly owns 12,939 shares of the company’s stock, valued at $654,195.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP C Frank Bennett sold 12,250 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $65.00, for a total value of $796,250.00. Following the completion of the sale, the senior vice president now directly owns 27,291 shares in the company, valued at $1,773,915. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,781 shares of company stock valued at $5,733,330. 2.13% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in IONS. Vanguard Group Inc. boosted its position in shares of Ionis Pharmaceuticals by 4.4% during the second quarter. Vanguard Group Inc. now owns 9,855,160 shares of the company’s stock valued at $501,332,000 after buying an additional 417,364 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Ionis Pharmaceuticals by 33.0% during the third quarter. American Century Companies Inc. now owns 1,144,526 shares of the company’s stock valued at $58,027,000 after buying an additional 284,266 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Ionis Pharmaceuticals by 40.2% during the third quarter. First Trust Advisors LP now owns 982,344 shares of the company’s stock valued at $49,805,000 after buying an additional 281,733 shares during the last quarter. BlackRock Inc. boosted its position in shares of Ionis Pharmaceuticals by 4.0% during the second quarter. BlackRock Inc. now owns 6,823,987 shares of the company’s stock valued at $347,135,000 after buying an additional 264,179 shares during the last quarter. Finally, AXA purchased a new stake in shares of Ionis Pharmaceuticals during the third quarter valued at $5,202,000. 91.40% of the stock is currently owned by institutional investors.

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Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is engaged 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 Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.

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