Ionis Pharmaceuticals (NASDAQ:IONS) EVP Sells $437,640.00 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Shannon Devers sold 6,000 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $72.94, for a total transaction of $437,640.00. Following the transaction, the executive vice president owned 15,937 shares of the company’s stock, valued at approximately $1,162,444.78. The trade was a 27.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Ionis Pharmaceuticals Stock Performance

Shares of IONS stock opened at $73.09 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 firm has a fifty day moving average price of $57.99 and a 200 day moving average price of $43.38. The company has a market cap of $11.65 billion, a P/E ratio of -39.72 and a beta of 0.33. Ionis Pharmaceuticals, Inc. has a 12 month low of $23.95 and a 12 month high of $74.42.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IONS. Jefferies Financial Group upped their price objective on shares of Ionis Pharmaceuticals from $83.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Bank of America upped their price objective on shares of Ionis Pharmaceuticals from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. The Goldman Sachs Group upgraded shares of Ionis Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their target price for the stock from $45.00 to $65.00 in a research note on Friday, September 26th. HC Wainwright restated a “buy” rating and issued a $95.00 price objective on shares of Ionis Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given 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 an average rating of “Moderate Buy” and an average price target of $78.50.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of hedge funds have recently made changes to their positions in IONS. Fifth Third Bancorp boosted its holdings in shares of Ionis Pharmaceuticals by 4.8% in the 1st quarter. Fifth Third Bancorp now owns 9,989 shares of the company’s stock valued at $301,000 after purchasing an additional 458 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Ionis Pharmaceuticals by 1,722.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,244 shares of the company’s stock valued at $98,000 after purchasing an additional 3,066 shares during the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Ionis Pharmaceuticals in the 1st quarter valued at $151,000. Sovran Advisors LLC boosted its holdings in shares of Ionis Pharmaceuticals by 91.4% in the 1st quarter. Sovran Advisors LLC now owns 328,904 shares of the company’s stock valued at $9,341,000 after purchasing an additional 157,092 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Ionis Pharmaceuticals by 660.7% in the 1st quarter. Teacher Retirement System of Texas now owns 500,451 shares of the company’s stock valued at $15,099,000 after purchasing an additional 434,659 shares during the last quarter. Institutional investors and hedge funds 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.