Ionis Pharmaceuticals (NASDAQ:IONS) EVP Sells $937,375.34 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Patrick O’neil sold 13,441 shares of Ionis Pharmaceuticals stock in a transaction on Monday, October 6th. The stock was sold at an average price of $69.74, for a total transaction of $937,375.34. Following the transaction, the executive vice president owned 53,889 shares in the company, valued at $3,758,218.86. This represents a 19.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ionis Pharmaceuticals Trading Down 0.4%

Shares of Ionis Pharmaceuticals stock opened at $69.97 on Friday. The company’s fifty day simple moving average is $54.97 and its 200-day simple moving average is $41.84. The stock has a market capitalization of $11.15 billion, a PE ratio of -38.03 and a beta of 0.33. Ionis Pharmaceuticals, Inc. has a 1-year low of $23.95 and a 1-year high of $71.87. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.87 and a quick ratio of 2.86.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.51. Ionis Pharmaceuticals had a negative net margin of 28.25% and a negative return on equity of 45.29%. The business had revenue of $452.00 million for the quarter, compared to analysts’ expectations of $270.90 million. During the same quarter last year, the company posted ($0.45) EPS. The company’s revenue was up 100.9% compared to the same quarter last year. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on IONS. Wells Fargo & Company lifted their target price on shares of Ionis Pharmaceuticals from $77.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, August 22nd. Citigroup lifted their target price on shares of Ionis Pharmaceuticals from $69.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday. Needham & Company LLC lifted their target price on shares of Ionis Pharmaceuticals from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets upgraded shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $40.00 to $70.00 in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.28.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IONS. GAMMA Investing LLC lifted its holdings in Ionis Pharmaceuticals by 3,786.5% during the first quarter. GAMMA Investing LLC now owns 28,993 shares of the company’s stock valued at $961,000 after purchasing an additional 28,247 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Ionis Pharmaceuticals by 4.8% in the first quarter. Fifth Third Bancorp now owns 9,989 shares of the company’s stock worth $301,000 after buying an additional 458 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Ionis Pharmaceuticals by 1,722.5% in the first quarter. Exchange Traded Concepts LLC now owns 3,244 shares of the company’s stock worth $98,000 after buying an additional 3,066 shares in the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Ionis Pharmaceuticals in the first quarter worth about $151,000. Finally, Sovran Advisors LLC lifted its stake in shares of Ionis Pharmaceuticals by 91.4% in the first quarter. Sovran Advisors LLC now owns 328,904 shares of the company’s stock worth $9,341,000 after buying an additional 157,092 shares in the last quarter. 93.86% of the stock is 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.