Ionis Pharmaceuticals, Inc. (IONS) Shares Gap Down After Insider Selling
Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $59.90, but opened at $57.76. Ionis Pharmaceuticals shares last traded at $54.30, with a volume of 1075250 shares trading hands.
Specifically, Chairman Stanley T. Crooke sold 27,500 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $52.89, for a total value of $1,454,475.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO B Lynne Parshall sold 16,118 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $65.00, for a total transaction of $1,047,670.00. Following the completion of the sale, the chief operating officer now owns 33,526 shares of the company’s stock, valued at approximately $2,179,190. The disclosure for this sale can be found here. Insiders have sold a total of 98,636 shares of company stock valued at $5,723,915 in the last 90 days. Insiders own 2.13% of the company’s stock.
Several research firms recently weighed in on IONS. Stifel Nicolaus lifted their target price on shares of Ionis Pharmaceuticals from $42.00 to $50.00 and gave the company a “hold” rating in a report on Wednesday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 target price on shares of Ionis Pharmaceuticals in a report on Wednesday, July 26th. Zacks Investment Research downgraded shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Evercore ISI began coverage on shares of Ionis Pharmaceuticals in a report on Wednesday, August 16th. They issued an “outperform” rating and a $65.00 target price for the company. Finally, Laidlaw reiterated a “buy” rating and issued a $65.00 target price on shares of Ionis Pharmaceuticals in a report on Monday, August 14th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $49.64.
The firm has a market cap of $6,735.07, a PE ratio of 257.90 and a beta of 2.90. The company has a quick ratio of 5.00, a current ratio of 5.03 and a debt-to-equity ratio of 2.47.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). The firm had revenue of $104.15 million for the quarter, compared to analysts’ expectations of $93.29 million. Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. Ionis Pharmaceuticals’s revenue for the quarter was up 170.7% on a year-over-year basis. During the same period last year, the firm posted ($0.47) earnings per share. sell-side analysts anticipate that Ionis Pharmaceuticals, Inc. will post -0.13 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Candriam Luxembourg S.C.A. lifted its position in shares of Ionis Pharmaceuticals by 30.0% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 143,000 shares of the company’s stock worth $7,250,000 after purchasing an additional 33,000 shares during the last quarter. Swiss National Bank lifted its position in shares of Ionis Pharmaceuticals by 2.7% during the 3rd quarter. Swiss National Bank now owns 207,300 shares of the company’s stock worth $10,510,000 after purchasing an additional 5,400 shares during the last quarter. Scout Investments Inc. lifted its position in shares of Ionis Pharmaceuticals by 3.8% during the 3rd quarter. Scout Investments Inc. now owns 143,842 shares of the company’s stock worth $7,293,000 after purchasing an additional 5,297 shares during the last quarter. Asymmetry Capital Management L.P. purchased a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter worth $2,837,000. Finally, American Century Companies Inc. lifted its position in shares of Ionis Pharmaceuticals by 33.0% during the 3rd quarter. American Century Companies Inc. now owns 1,144,526 shares of the company’s stock worth $58,027,000 after purchasing an additional 284,266 shares during the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.
Ionis Pharmaceuticals Company Profile
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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