Ionis Pharmaceuticals (NASDAQ:IONS) EVP Sells $126,084.00 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Richard Geary sold 1,680 shares of Ionis Pharmaceuticals stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $75.05, for a total transaction of $126,084.00. Following the transaction, the executive vice president directly owned 59,657 shares of the company’s stock, valued at $4,477,257.85. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Ionis Pharmaceuticals Price Performance

IONS stock traded down $0.65 during trading on Monday, hitting $73.65. 2,576,023 shares of the stock traded hands, compared to its average volume of 1,967,082. Ionis Pharmaceuticals, Inc. has a one year low of $23.95 and a one year high of $75.49. The stock has a market cap of $11.93 billion, a price-to-earnings ratio of -43.58 and a beta of 0.33. The company has a 50 day simple moving average of $64.61 and a 200 day simple moving average of $47.10. The company has a current ratio of 2.87, a quick ratio of 2.86 and a debt-to-equity ratio of 0.99.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Wednesday, October 29th. The company reported ($0.80) earnings per share (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 $157.00 million during the quarter, compared to the consensus estimate of $131.75 million. During the same period last year, the firm posted ($0.95) EPS. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. increased its position in shares of Ionis Pharmaceuticals by 14.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 16,175,533 shares of the company’s stock worth $488,016,000 after acquiring an additional 2,006,334 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Ionis Pharmaceuticals by 253.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,800,000 shares of the company’s stock valued at $150,138,000 after acquiring an additional 2,724,400 shares during the last quarter. Geode Capital Management LLC lifted its stake in Ionis Pharmaceuticals by 1.7% in the second quarter. Geode Capital Management LLC now owns 2,891,095 shares of the company’s stock valued at $114,245,000 after acquiring an additional 48,141 shares during the last quarter. BVF Inc. IL acquired a new stake in shares of Ionis Pharmaceuticals during the 1st quarter worth about $57,727,000. Finally, Groupama Asset Managment boosted its holdings in shares of Ionis Pharmaceuticals by 8.6% during the second quarter. Groupama Asset Managment now owns 1,160,957 shares of the company’s stock worth $45,869,000 after acquiring an additional 91,746 shares during the period. 93.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IONS has been the subject of several research reports. Piper Sandler raised their price objective on shares of Ionis Pharmaceuticals from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Oppenheimer increased their price objective on Ionis Pharmaceuticals from $84.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Wells Fargo & Company increased their price objective on Ionis Pharmaceuticals from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Bank of America increased their price objective on Ionis Pharmaceuticals from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Finally, The Goldman Sachs Group upgraded Ionis Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their price objective for the company from $45.00 to $65.00 in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.05.

About Ionis Pharmaceuticals

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.