Insider Selling: Ionis Pharmaceuticals (NASDAQ:IONS) EVP Sells 215,048 Shares of Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Elizabeth Hougen sold 215,048 shares of Ionis Pharmaceuticals stock in a transaction on Monday, March 16th. The stock was sold at an average price of $72.40, for a total transaction of $15,569,475.20. Following the completion of the sale, the executive vice president owned 92,832 shares of the company’s stock, valued at approximately $6,721,036.80. This trade represents a 69.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Ionis Pharmaceuticals Stock Down 0.9%

NASDAQ IONS traded down $0.66 during trading hours on Wednesday, reaching $71.67. 2,180,298 shares of the company traded hands, compared to its average volume of 2,331,160. The stock has a market capitalization of $11.84 billion, a PE ratio of -29.37 and a beta of 0.31. The company has a current ratio of 3.83, a quick ratio of 3.81 and a debt-to-equity ratio of 2.76. Ionis Pharmaceuticals, Inc. has a 12 month low of $23.95 and a 12 month high of $86.74. The company has a 50 day moving average of $80.20 and a two-hundred day moving average of $75.07.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Wednesday, February 25th. The company reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.18). Ionis Pharmaceuticals had a negative return on equity of 68.82% and a negative net margin of 40.36%.The company had revenue of $203.33 million during the quarter, compared to the consensus estimate of $156.07 million. During the same period in the previous year, the firm posted ($0.66) EPS. Ionis Pharmaceuticals’s revenue for the quarter was down 10.6% on a year-over-year basis. As a group, equities analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current year.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of IONS. Stanley Laman Group Ltd. bought a new stake in Ionis Pharmaceuticals in the third quarter worth about $2,340,000. Massachusetts Financial Services Co. MA boosted its position in shares of Ionis Pharmaceuticals by 66.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 862,593 shares of the company’s stock valued at $56,431,000 after purchasing an additional 343,409 shares in the last quarter. Norges Bank acquired a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $17,790,000. Assenagon Asset Management S.A. grew its stake in shares of Ionis Pharmaceuticals by 1,669.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 312,297 shares of the company’s stock worth $20,430,000 after purchasing an additional 294,643 shares during the last quarter. Finally, Dynasty Wealth Management LLC bought a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter worth approximately $938,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays began coverage on Ionis Pharmaceuticals in a report on Wednesday, January 28th. They set an “overweight” rating and a $95.00 target price on the stock. TD Cowen reiterated a “buy” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, December 3rd. Royal Bank Of Canada reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Wednesday, February 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research note on Thursday, January 22nd. Finally, Needham & Company LLC boosted their target price on shares of Ionis Pharmaceuticals from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ionis Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.