Ionis Pharmaceuticals (NASDAQ:IONS) EVP Eric Swayze Sells 6,849 Shares of Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Eric Swayze sold 6,849 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $69.02, for a total value of $472,717.98. Following the transaction, the executive vice president owned 30,453 shares in the company, valued at $2,101,866.06. This trade represents a 18.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Eric Swayze also recently made the following trade(s):

• On Thursday, October 2nd, Eric Swayze sold 12,972 shares of Ionis Pharmaceuticals stock. The shares were sold at an average price of $66.23, for a total value of $859,135.56.
• On Wednesday, October 1st, Eric Swayze sold 14,142 shares of Ionis Pharmaceuticals stock. The shares were sold at an average price of $66.09, for a total value of $934,644.78.
• On Tuesday, September 2nd, Eric Swayze sold 11,130 shares of Ionis Pharmaceuticals stock. The shares were sold at an average price of $49.67, for a total value of $552,827.10.

Ionis Pharmaceuticals Price Performance

Shares of Ionis Pharmaceuticals stock opened at $69.96 on Thursday. The company has a current ratio of 2.87, a quick ratio of 2.86 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $11.15 billion, a PE ratio of -38.02 and a beta of 0.33. The business’s 50-day moving average price is $53.89 and its 200-day moving average price is $41.33. Ionis Pharmaceuticals, Inc. has a 12 month low of $23.95 and a 12 month high of $71.87.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.19 by $0.51. The firm had revenue of $452.00 million for the quarter, compared to analyst estimates of $270.90 million. Ionis Pharmaceuticals had a negative return on equity of 45.29% and a negative net margin of 28.25%.The company’s revenue was up 100.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.45) EPS. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IONS has been the subject of several analyst reports. Needham & Company LLC increased their target price on Ionis Pharmaceuticals from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday. BMO Capital Markets upgraded Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their target price for the company from $40.00 to $70.00 in a report on Wednesday, September 3rd. Bank of America increased their target price on Ionis Pharmaceuticals from $81.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Morgan Stanley increased their target price on Ionis Pharmaceuticals from $71.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, September 23rd. Finally, Royal Bank Of Canada increased their target price on Ionis Pharmaceuticals from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.28.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP lifted its stake in shares of Ionis Pharmaceuticals by 231.8% in the 2nd quarter. Allworth Financial LP now owns 740 shares of the company’s stock valued at $29,000 after purchasing an additional 517 shares during the period. GAMMA Investing LLC lifted its stake in shares of Ionis Pharmaceuticals by 44.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,341 shares of the company’s stock valued at $88,000 after purchasing an additional 411 shares during the period. Signaturefd LLC lifted its stake in shares of Ionis Pharmaceuticals by 45.6% in the 1st quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock valued at $42,000 after purchasing an additional 433 shares during the period. Parallel Advisors LLC lifted its stake in shares of Ionis Pharmaceuticals by 151.3% in the 2nd quarter. Parallel Advisors LLC now owns 1,872 shares of the company’s stock valued at $74,000 after purchasing an additional 1,127 shares during the period. Finally, Ancora Advisors LLC purchased a new position in shares of Ionis Pharmaceuticals in the 1st quarter valued at approximately $60,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

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; 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.