Insider Selling: Ionis Pharmaceuticals Inc. (IONS) Chairman Sells 11,000 Shares of Stock
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) Chairman Stanley T. Crooke sold 11,000 shares of the stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $36.61, for a total value of $402,710.00. Following the sale, the chairman now directly owns 35,029 shares in the company, valued at approximately $1,282,411.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) opened at 34.26 on Friday. The stock has a 50 day moving average price of $32.65 and a 200-day moving average price of $32.31. The company’s market capitalization is $4.14 billion. Ionis Pharmaceuticals Inc. has a 52 week low of $19.59 and a 52 week high of $65.34.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.05. Ionis Pharmaceuticals had a negative net margin of 128.94% and a negative return on equity of 126.88%. The business had revenue of $38.50 million for the quarter, compared to analysts’ expectations of $38.52 million. The business’s revenue was down 68.0% compared to the same quarter last year. On average, equities analysts predict that Ionis Pharmaceuticals Inc. will post ($1.11) earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of IONS. Geode Capital Management LLC boosted its stake in shares of Ionis Pharmaceuticals by 4.4% in the first quarter. Geode Capital Management LLC now owns 760,951 shares of the company’s stock worth $30,802,000 after buying an additional 31,981 shares during the last quarter. State Street Corp boosted its stake in shares of Ionis Pharmaceuticals by 15.7% in the first quarter. State Street Corp now owns 3,037,388 shares of the company’s stock worth $123,010,000 after buying an additional 412,515 shares during the last quarter. Broderick Brian C boosted its stake in shares of Ionis Pharmaceuticals by 25.4% in the second quarter. Broderick Brian C now owns 24,444 shares of the company’s stock worth $570,000 after buying an additional 4,949 shares during the last quarter. Motley Fool Wealth Management LLC boosted its stake in shares of Ionis Pharmaceuticals by 51.1% in the first quarter. Motley Fool Wealth Management LLC now owns 166,513 shares of the company’s stock worth $6,744,000 after buying an additional 56,320 shares during the last quarter. Finally, Opera Trading Capital boosted its stake in shares of Ionis Pharmaceuticals by 150.0% in the first quarter. Opera Trading Capital now owns 2,892 shares of the company’s stock worth $117,000 after buying an additional 1,735 shares during the last quarter. 89.58% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on IONS. BMO Capital Markets raised Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $42.00 to $48.00 in a research report on Thursday. Janney Montgomery Scott assumed coverage on Ionis Pharmaceuticals in a report on Wednesday, September 28th. They issued a “buy” rating and a $47.00 target price on the stock. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $46.00 target price on shares of Ionis Pharmaceuticals in a report on Monday, September 26th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Ionis Pharmaceuticals in a report on Sunday, September 11th. Finally, Cowen and Company reaffirmed a “market perform” rating on shares of Ionis Pharmaceuticals in a report on Saturday, August 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $42.92.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
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