Patrick O’neil Sells 14,827 Shares of Ionis Pharmaceuticals (NASDAQ:IONS) Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Patrick O’neil sold 14,827 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $64.68, for a total transaction of $959,010.36. Following the sale, the executive vice president directly owned 57,130 shares in the company, valued at $3,695,168.40. This trade represents a 20.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Ionis Pharmaceuticals Stock Performance

Shares of IONS opened at $68.40 on Friday. 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 stock has a market capitalization of $10.90 billion, a P/E ratio of -37.17 and a beta of 0.32. The firm’s fifty day simple moving average is $51.71 and its two-hundred day simple moving average is $40.33. Ionis Pharmaceuticals, Inc. has a 12 month low of $23.95 and a 12 month high of $68.41.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm posted ($0.45) earnings per share. The business’s quarterly 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, analysts predict that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current year.

Institutional Investors Weigh In On Ionis Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings 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 worth $88,000 after acquiring an additional 411 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Ionis Pharmaceuticals by 0.3% in the 2nd quarter. Corient Private Wealth LLC now owns 237,840 shares of the company’s stock worth $9,397,000 after buying an additional 707 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Ionis Pharmaceuticals by 123.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,296 shares of the company’s stock worth $209,000 after buying an additional 2,923 shares during the last quarter. Orion Porfolio Solutions LLC purchased a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $221,000. Finally, Marex Group plc purchased a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $3,294,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

Analysts Set New Price Targets

IONS has been the topic of several research reports. Stifel Nicolaus set a $43.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, August 21st. Barclays upped their price objective on shares of Ionis Pharmaceuticals from $78.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, September 23rd. The Goldman Sachs Group upgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “neutral” rating and upped their price objective for the company from $45.00 to $65.00 in a report on Friday, September 26th. Piper Sandler upped their price objective on shares of Ionis Pharmaceuticals from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, August 22nd. Finally, Needham & Company LLC upped their price objective on shares of Ionis Pharmaceuticals from $55.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.88.

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.