Insider Selling: Ionis Pharmaceuticals (NASDAQ:IONS) EVP Sells 16,777 Shares of Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Shannon Devers sold 16,777 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $80.91, for a total value of $1,357,427.07. Following the completion of the sale, the executive vice president directly owned 17,494 shares of the company’s stock, valued at approximately $1,415,439.54. This trade represents a 48.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ionis Pharmaceuticals Stock Performance

Shares of NASDAQ:IONS traded up $0.05 during midday trading on Friday, reaching $82.75. 852,943 shares of the company traded hands, compared to its average volume of 2,072,262. Ionis Pharmaceuticals, Inc. has a 12 month low of $23.95 and a 12 month high of $82.95. The firm’s fifty day moving average price is $71.28 and its two-hundred day moving average price is $52.38. 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 capitalization of $13.40 billion, a price-to-earnings ratio of -48.96 and a beta of 0.33.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Wednesday, October 29th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($1.15) by $0.35. Ionis Pharmaceuticals had a negative net margin of 26.45% and a negative return on equity of 45.29%. The firm had revenue of $156.72 million during the quarter, compared to the consensus estimate of $131.75 million. During the same period last year, the firm earned ($0.95) EPS. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current year.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter valued at about $25,000. Golden State Wealth Management LLC increased its holdings in Ionis Pharmaceuticals by 198.4% during the third quarter. Golden State Wealth Management LLC now owns 376 shares of the company’s stock valued at $25,000 after buying an additional 250 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Ionis Pharmaceuticals during the 3rd quarter worth $27,000. Allworth Financial LP grew its position in shares of Ionis Pharmaceuticals by 231.8% during the 2nd quarter. Allworth Financial LP now owns 740 shares of the company’s stock valued at $29,000 after acquiring an additional 517 shares during the period. Finally, Quarry LP purchased a new stake in shares of Ionis Pharmaceuticals in the 3rd quarter worth $38,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Citigroup increased their price target on shares of Ionis Pharmaceuticals from $69.00 to $84.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Needham & Company LLC raised their target price on Ionis Pharmaceuticals from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, October 8th. HC Wainwright increased their price objective on Ionis Pharmaceuticals from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Finally, BMO Capital Markets raised Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $40.00 to $70.00 in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.15.

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.