Insider Selling: Ionis Pharmaceuticals, Inc. (IONS) Chairman Sells $1,454,475.00 in Stock
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Chairman Stanley T. Crooke sold 27,500 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $52.89, for a total transaction of $1,454,475.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Ionis Pharmaceuticals, Inc. (NASDAQ IONS) opened at 55.55 on Friday. The company has a market capitalization of $6.91 billion, a P/E ratio of 267.07 and a beta of 3.12. Ionis Pharmaceuticals, Inc. has a 52 week low of $24.58 and a 52 week high of $60.01. The firm has a 50 day moving average of $53.28 and a 200-day moving average of $48.97.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $104.15 million during the quarter, compared to the consensus estimate of $93.29 million. Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The firm’s revenue was up 170.7% compared to the same quarter last year. During the same period last year, the company posted ($0.47) EPS. On average, analysts forecast that Ionis Pharmaceuticals, Inc. will post ($0.17) earnings per share for the current year.
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Several equities analysts recently issued reports on the stock. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $30.00 price target on shares of Ionis Pharmaceuticals in a report on Friday. BMO Capital Markets reissued an “outperform” rating and set a $69.00 price target on shares of Ionis Pharmaceuticals in a report on Monday, October 2nd. Jefferies Group LLC reissued an “underperform” rating and set a $18.00 price target (up from $17.00) on shares of Ionis Pharmaceuticals in a report on Thursday, August 10th. Laidlaw reissued a “buy” rating and set a $65.00 price target on shares of Ionis Pharmaceuticals in a report on Monday, August 14th. Finally, Sanford C. Bernstein assumed coverage on shares of Ionis Pharmaceuticals in a report on Thursday, July 27th. They set a “market perform” rating and a $57.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $49.44.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Ionis Pharmaceuticals by 37,569.7% in the 1st quarter. BlackRock Inc. now owns 6,559,808 shares of the company’s stock valued at $263,704,000 after buying an additional 6,542,394 shares during the last quarter. State Street Corp raised its holdings in Ionis Pharmaceuticals by 20.5% in the 1st quarter. State Street Corp now owns 3,340,471 shares of the company’s stock valued at $134,285,000 after buying an additional 567,792 shares during the last quarter. Vanguard Group Inc. raised its holdings in Ionis Pharmaceuticals by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 9,855,160 shares of the company’s stock valued at $501,332,000 after buying an additional 417,364 shares during the last quarter. Smith Asset Management Group LP bought a new position in Ionis Pharmaceuticals in the 2nd quarter valued at approximately $11,394,000. Finally, Gotham Asset Management LLC raised its holdings in Ionis Pharmaceuticals by 227.6% in the 1st quarter. Gotham Asset Management LLC now owns 313,432 shares of the company’s stock valued at $12,600,000 after buying an additional 217,756 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.
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