Ionis Pharmaceuticals (NASDAQ:IONS) EVP Sells $412,477.64 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Eugene Schneider sold 5,812 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $70.97, for a total transaction of $412,477.64. Following the sale, the executive vice president owned 63,890 shares of the company’s stock, valued at $4,534,273.30. This trade represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Eugene Schneider also recently made the following trade(s):

• On Friday, January 30th, Eugene Schneider sold 6,179 shares of Ionis Pharmaceuticals stock. The shares were sold at an average price of $83.45, for a total value of $515,637.55.
• On Friday, January 16th, Eugene Schneider sold 9,302 shares of Ionis Pharmaceuticals stock. The shares were sold at an average price of $75.59, for a total value of $703,138.18.

Ionis Pharmaceuticals Trading Down 0.3%

Shares of IONS stock traded down $0.20 during midday trading on Monday, hitting $70.79. The company had a trading volume of 2,198,127 shares, compared to its average volume of 2,540,887. The company’s 50 day simple moving average is $79.37 and its 200 day simple moving average is $75.53. Ionis Pharmaceuticals, Inc. has a 52-week low of $23.95 and a 52-week high of $86.74. The company has a current ratio of 3.83, a quick ratio of 3.81 and a debt-to-equity ratio of 2.76.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($1.41) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.18). Ionis Pharmaceuticals had a negative return on equity of 68.82% and a negative net margin of 40.36%.The company had revenue of $203.33 million for the quarter, compared to analysts’ expectations of $156.07 million. During the same quarter last year, the company earned ($0.66) EPS. Ionis Pharmaceuticals’s revenue for the quarter was down 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IONS shares. TD Cowen reaffirmed a “buy” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, December 3rd. Piper Sandler raised their price objective on shares of Ionis Pharmaceuticals from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Needham & Company LLC lifted their price objective on Ionis Pharmaceuticals from $90.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Morgan Stanley set a $95.00 target price on Ionis Pharmaceuticals and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Finally, Barclays assumed coverage on Ionis Pharmaceuticals in a report on Wednesday, January 28th. They issued an “overweight” rating and a $95.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.00.

Institutional Investors Weigh In On Ionis Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of IONS. Brown Brothers Harriman & Co. purchased a new position in Ionis Pharmaceuticals in the 4th quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its position in Ionis Pharmaceuticals by 198.4% during the third quarter. Golden State Wealth Management LLC now owns 376 shares of the company’s stock worth $25,000 after purchasing an additional 250 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in Ionis Pharmaceuticals in the third quarter valued at $25,000. Mather Group LLC. purchased a new position in shares of Ionis Pharmaceuticals in the third quarter valued at $27,000. Finally, Quarry LP acquired a new position in shares of Ionis Pharmaceuticals during the 3rd quarter worth $38,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.