Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Short Interest Down 5.4% in November

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 10,450,000 shares, a decline of 5.4% from the November 15th total of 11,050,000 shares. Approximately 7.2% of the shares of the stock are short sold. Based on an average daily volume of 1,700,000 shares, the days-to-cover ratio is presently 6.1 days.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IONS shares. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a research report on Thursday, November 7th. Guggenheim reduced their price objective on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Piper Sandler reduced their price objective on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. StockNews.com downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their price objective on Ionis Pharmaceuticals from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.65.

Ionis Pharmaceuticals Trading Up 4.1 %

Shares of NASDAQ:IONS opened at $38.10 on Tuesday. Ionis Pharmaceuticals has a 12-month low of $33.33 and a 12-month high of $54.44. The business’s fifty day simple moving average is $37.52 and its 200-day simple moving average is $42.37. The company has a market capitalization of $6.02 billion, a PE ratio of -15.61 and a beta of 0.35. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86.

Insider Activity at Ionis Pharmaceuticals

In other Ionis Pharmaceuticals news, EVP Eric Swayze sold 1,194 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total transaction of $45,276.48. Following the transaction, the executive vice president now directly owns 33,713 shares in the company, valued at approximately $1,278,396.96. This represents a 3.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brett P. Monia sold 6,630 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total value of $252,271.50. Following the transaction, the chief executive officer now owns 167,393 shares in the company, valued at $6,369,303.65. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,877 shares of company stock valued at $299,578 over the last quarter. 2.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC grew its stake in Ionis Pharmaceuticals by 3.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,624 shares of the company’s stock worth $363,000 after buying an additional 261 shares during the last quarter. Nicollet Investment Management Inc. grew its stake in Ionis Pharmaceuticals by 1.5% during the 3rd quarter. Nicollet Investment Management Inc. now owns 20,402 shares of the company’s stock worth $817,000 after buying an additional 294 shares during the last quarter. Amalgamated Bank grew its stake in Ionis Pharmaceuticals by 3.1% during the 3rd quarter. Amalgamated Bank now owns 9,957 shares of the company’s stock worth $399,000 after buying an additional 300 shares during the last quarter. GAMMA Investing LLC grew its stake in Ionis Pharmaceuticals by 83.9% during the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock worth $27,000 after buying an additional 303 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its stake in Ionis Pharmaceuticals by 40.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,081 shares of the company’s stock worth $43,000 after buying an additional 314 shares during the last quarter. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

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; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.