Ionis Pharmaceuticals Inc (NASDAQ:IONS) Chairman Stanley T. Crooke sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $45.17, for a total transaction of $677,550.00. Following the sale, the chairman now owns 61,545 shares in the company, valued at approximately $2,779,987.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Ionis Pharmaceuticals stock opened at $46.75 on Thursday. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 22.58 and a beta of 2.04. The company’s 50 day moving average is $53.59 and its 200 day moving average is $58.68. Ionis Pharmaceuticals Inc has a twelve month low of $39.32 and a twelve month high of $86.58. The company has a quick ratio of 9.90, a current ratio of 9.97 and a debt-to-equity ratio of 0.47.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.37. Ionis Pharmaceuticals had a net margin of 26.09% and a return on equity of 22.23%. The company had revenue of $494.00 million for the quarter, compared to the consensus estimate of $407.05 million. During the same quarter in the prior year, the firm earned $2.21 earnings per share. The firm’s revenue for the quarter was up 157.3% compared to the same quarter last year. Sell-side analysts expect that Ionis Pharmaceuticals Inc will post -0.06 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its position in Ionis Pharmaceuticals by 4.5% in the fourth quarter. Baillie Gifford & Co. now owns 8,790,025 shares of the company’s stock worth $531,006,000 after acquiring an additional 374,736 shares during the period. BVF Inc. IL raised its position in Ionis Pharmaceuticals by 133.0% in the fourth quarter. BVF Inc. IL now owns 2,179,735 shares of the company’s stock worth $131,678,000 after acquiring an additional 1,244,187 shares during the period. Renaissance Technologies LLC raised its position in Ionis Pharmaceuticals by 12.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,038,711 shares of the company’s stock worth $123,159,000 after acquiring an additional 225,700 shares during the period. Geode Capital Management LLC raised its position in Ionis Pharmaceuticals by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 1,443,742 shares of the company’s stock worth $87,134,000 after acquiring an additional 15,705 shares during the period. Finally, Norges Bank bought a new position in Ionis Pharmaceuticals in the fourth quarter worth approximately $73,035,000. Institutional investors and hedge funds own 86.60% of the company’s stock.
A number of equities research analysts have recently commented on IONS shares. Piper Sandler cut their price target on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Citigroup started coverage on shares of Ionis Pharmaceuticals in a report on Thursday, March 5th. They set a “buy” rating and a $73.00 price target on the stock. Bank of America restated a “buy” rating and set a $70.00 price objective on shares of Ionis Pharmaceuticals in a research report on Tuesday, December 31st. Needham & Company LLC restated a “buy” rating and set a $87.00 price objective on shares of Ionis Pharmaceuticals in a research report on Monday, December 23rd. Finally, William Blair restated a “hold” rating on shares of Ionis Pharmaceuticals in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Ionis Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $73.29.
About Ionis Pharmaceuticals
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.
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