Insider Selling: Ionis Pharmaceuticals (NASDAQ:IONS) EVP Sells $2,501,637.36 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Richard Geary sold 33,038 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $75.72, for a total value of $2,501,637.36. Following the sale, the executive vice president directly owned 59,657 shares in the company, valued at approximately $4,517,228.04. This trade represents a 35.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ionis Pharmaceuticals Stock Down 0.7%

Shares of NASDAQ IONS opened at $73.55 on Monday. Ionis Pharmaceuticals, Inc. has a 12-month low of $23.95 and a 12-month high of $76.78. The company has a quick ratio of 2.86, a current ratio of 2.87 and a debt-to-equity ratio of 0.99. The firm has a market cap of $11.91 billion, a PE ratio of -43.52 and a beta of 0.33. The company’s fifty day simple moving average is $67.11 and its 200 day simple moving average is $48.37.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.35. The firm had revenue of $157.00 million during the quarter, compared to analysts’ expectations of $131.75 million. Ionis Pharmaceuticals had a negative return on equity of 45.29% and a negative net margin of 26.45%.The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.95) earnings per share. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IONS has been the subject of a number of recent research reports. Cowen set a $99.00 price objective on Ionis Pharmaceuticals in a report on Thursday, October 30th. HC Wainwright upped their price target on Ionis Pharmaceuticals from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Oppenheimer raised their price objective on Ionis Pharmaceuticals from $84.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on shares of Ionis Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, Morgan Stanley increased their target price on shares of Ionis Pharmaceuticals from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.65.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Large investors have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at $665,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in Ionis Pharmaceuticals by 161.3% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 155,790 shares of the company’s stock worth $10,192,000 after buying an additional 96,164 shares during the period. denkapparat Operations GmbH bought a new stake in Ionis Pharmaceuticals during the 3rd quarter valued at $652,000. State of New Jersey Common Pension Fund D raised its holdings in Ionis Pharmaceuticals by 1.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,817 shares of the company’s stock valued at $3,913,000 after acquiring an additional 899 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Ionis Pharmaceuticals by 6.2% in the third quarter. PNC Financial Services Group Inc. now owns 12,113 shares of the company’s stock worth $792,000 after acquiring an additional 702 shares during the period. Hedge funds and other institutional investors own 93.86% of the company’s stock.

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.