Ionis Pharmaceuticals (NASDAQ:IONS) Director Joseph Wender Sells 16,800 Shares of Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Director Joseph Wender sold 16,800 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $65.50, for a total value of $1,100,400.00. Following the transaction, the director directly owned 92,035 shares of the company’s stock, valued at approximately $6,028,292.50. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Ionis Pharmaceuticals Trading Up 4.0%

Shares of IONS stock opened at $68.40 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.87 and a quick ratio of 2.86. The company has a market cap of $10.90 billion, a price-to-earnings ratio of -37.17 and a beta of 0.32. The stock has a 50 day simple moving average of $51.71 and a 200-day simple moving average of $40.33. Ionis Pharmaceuticals, Inc. has a 1-year low of $23.95 and a 1-year high of $68.41.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on IONS. Piper Sandler increased their price objective on Ionis Pharmaceuticals from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, August 22nd. Stifel Nicolaus set a $43.00 price objective on Ionis Pharmaceuticals in a research note on Thursday, August 21st. Barclays increased their price objective on Ionis Pharmaceuticals from $78.00 to $82.00 and gave the company an “overweight” rating in a research note on Tuesday, September 23rd. Morgan Stanley increased their price objective on Ionis Pharmaceuticals from $71.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Ionis Pharmaceuticals from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ionis Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $73.88.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Allworth Financial LP grew its holdings in shares of Ionis Pharmaceuticals by 231.8% during the 2nd quarter. Allworth Financial LP now owns 740 shares of the company’s stock worth $29,000 after purchasing an additional 517 shares during the period. Signaturefd LLC grew its holdings in shares of Ionis Pharmaceuticals by 45.6% during the 1st quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock worth $42,000 after purchasing an additional 433 shares during the period. Ancora Advisors LLC purchased a new position in shares of Ionis Pharmaceuticals during the 1st quarter worth $60,000. CWM LLC grew its holdings in shares of Ionis Pharmaceuticals by 18.7% during the 1st quarter. CWM LLC now owns 2,435 shares of the company’s stock worth $73,000 after purchasing an additional 384 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Ionis Pharmaceuticals by 151.3% during the 2nd quarter. Parallel Advisors LLC now owns 1,872 shares of the company’s stock worth $74,000 after purchasing an additional 1,127 shares during the period. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Company Profile

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.