Insider Selling: Ionis Pharmaceuticals Inc (IONS) Chairman Sells 5,500 Shares of Stock

Ionis Pharmaceuticals Inc (NASDAQ:IONS) Chairman Stanley T. Crooke sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 19th. The shares were sold at an average price of $43.25, for a total transaction of $237,875.00. Following the completion of the sale, the chairman now directly owns 43,014 shares in the company, valued at approximately $1,860,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) traded up 3.15% during midday trading on Friday, hitting $44.26. 2,123,443 shares of the stock were exchanged. The company’s market capitalization is $5.48 billion. Ionis Pharmaceuticals Inc has a 1-year low of $19.59 and a 1-year high of $57.00. The firm has a 50-day moving average of $41.65 and a 200-day moving average of $42.02.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Tuesday, February 28th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.53. The firm earned $160.30 million during the quarter, compared to analyst estimates of $97.47 million. Ionis Pharmaceuticals had a negative net margin of 77.30% and a negative return on equity of 120.60%. The business’s revenue was up 210.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.59) earnings per share. On average, equities analysts expect that Ionis Pharmaceuticals Inc will post ($0.50) EPS for the current year.

Insider Buying and Selling by Quarter for Ionis Pharmaceuticals (NASDAQ:IONS)

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Several analysts have recently issued reports on IONS shares. Leerink Swann boosted their price target on shares of Ionis Pharmaceuticals from $40.00 to $47.00 and gave the company a “market perform” rating in a research report on Tuesday, December 27th. Laidlaw upped their target price on shares of Ionis Pharmaceuticals from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, December 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 target price on shares of Ionis Pharmaceuticals in a report on Tuesday, December 27th. BMO Capital Markets upped their target price on shares of Ionis Pharmaceuticals from $61.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, December 28th. Finally, Janney Montgomery Scott reaffirmed a “neutral” rating and set a $54.00 target price (up previously from $50.00) on shares of Ionis Pharmaceuticals in a report on Wednesday, December 28th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.74.

Several hedge funds have recently modified their holdings of IONS. HL Financial Services LLC bought a new stake in shares of Ionis Pharmaceuticals during the third quarter worth about $216,000. Commonwealth Equity Services Inc raised its stake in shares of Ionis Pharmaceuticals by 15.8% in the third quarter. Commonwealth Equity Services Inc now owns 19,011 shares of the company’s stock worth $697,000 after buying an additional 2,594 shares in the last quarter. Rothschild Asset Management Inc. raised its stake in shares of Ionis Pharmaceuticals by 8.1% in the third quarter. Rothschild Asset Management Inc. now owns 205,347 shares of the company’s stock worth $7,524,000 after buying an additional 15,353 shares in the last quarter. LMR Partners LLP bought a new stake in shares of Ionis Pharmaceuticals during the third quarter worth about $5,305,000. Finally, Aperio Group LLC raised its stake in shares of Ionis Pharmaceuticals by 14.4% in the third quarter. Aperio Group LLC now owns 11,766 shares of the company’s stock worth $431,000 after buying an additional 1,479 shares in the last quarter. 87.76% of the stock is owned by hedge funds and other institutional investors.

About Ionis Pharmaceuticals

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.

5 Day Chart for NASDAQ:IONS

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