Insider Selling: Ionis Pharmaceuticals Inc (NASDAQ:IONS) SVP Sells 5,000 Shares of Stock

Ionis Pharmaceuticals Inc (NASDAQ:IONS) SVP Richard S. Geary sold 5,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $65.06, for a total transaction of $325,300.00. Following the transaction, the senior vice president now directly owns 26,583 shares in the company, valued at $1,729,489.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of NASDAQ IONS traded up $0.82 during trading on Wednesday, reaching $65.00. 872,008 shares of the stock were exchanged, compared to its average volume of 1,130,595. The business’s 50-day moving average price is $58.23 and its 200 day moving average price is $63.02. Ionis Pharmaceuticals Inc has a twelve month low of $48.27 and a twelve month high of $86.58. The company has a quick ratio of 10.31, a current ratio of 10.39 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $9.00 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 2.30 and a beta of 1.91.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Wednesday, November 6th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.49. Ionis Pharmaceuticals had a net margin of 52.26% and a return on equity of 36.31%. The business had revenue of $168.00 million for the quarter, compared to analysts’ expectations of $152.47 million. During the same period in the previous year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, sell-side analysts expect that Ionis Pharmaceuticals Inc will post 1.99 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of IONS. Invesco Ltd. lifted its position in shares of Ionis Pharmaceuticals by 2,754.9% during the second quarter. Invesco Ltd. now owns 2,271,539 shares of the company’s stock worth $145,992,000 after purchasing an additional 2,191,974 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Ionis Pharmaceuticals during the second quarter worth $112,814,000. BlackRock Inc. lifted its position in shares of Ionis Pharmaceuticals by 15.5% during the second quarter. BlackRock Inc. now owns 8,802,576 shares of the company’s stock worth $565,743,000 after purchasing an additional 1,181,004 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Ionis Pharmaceuticals by 357.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 805,100 shares of the company’s stock worth $51,744,000 after purchasing an additional 629,275 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Ionis Pharmaceuticals by 3,803.9% during the second quarter. Nuveen Asset Management LLC now owns 482,909 shares of the company’s stock worth $31,037,000 after purchasing an additional 470,539 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have weighed in on IONS shares. William Blair started coverage on shares of Ionis Pharmaceuticals in a research report on Thursday, November 14th. They set a “market perform” rating on the stock. BidaskClub raised shares of Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Morgan Stanley cut shares of Ionis Pharmaceuticals from an “equal” rating to a “weight” rating and reduced their price target for the company from $63.00 to $48.00 in a research report on Thursday, November 7th. TheStreet cut shares of Ionis Pharmaceuticals from a “b-” rating to a “c” rating in a research report on Thursday, August 8th. Finally, Bank of America started coverage on shares of Ionis Pharmaceuticals in a research report on Wednesday, November 13th. They set a “buy” rating and a $70.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $75.55.

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.

Featured Article: Conference Calls

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

Receive News & Ratings for Ionis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ionis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.