Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Chairman Sells $865,425.00 in Stock
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Chairman Stanley T. Crooke sold 16,500 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $52.45, for a total transaction of $865,425.00. Following the completion of the sale, the chairman now owns 53,014 shares in the company, valued at $2,780,584.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) traded up 1.75% during trading on Tuesday, hitting $53.94. 1,440,288 shares of the company traded hands. The stock has a 50-day moving average price of $48.73 and a 200-day moving average price of $46.13. Ionis Pharmaceuticals, Inc. has a 12-month low of $24.34 and a 12-month high of $57.00. The firm’s market capitalization is $6.69 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.13. The business had revenue of $110.30 million during the quarter, compared to analyst estimates of $86.03 million. Ionis Pharmaceuticals had a negative return on equity of 14.61% and a negative net margin of 4.80%. Ionis Pharmaceuticals’s quarterly revenue was up 199.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.52) EPS. Equities analysts expect that Ionis Pharmaceuticals, Inc. will post ($0.37) EPS for the current fiscal year.
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A number of research firms have recently issued reports on IONS. Stifel Nicolaus reiterated a “hold” rating and issued a $42.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday, July 10th. TheStreet upgraded shares of Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a report on Wednesday, July 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price objective (up from $59.00) on shares of Ionis Pharmaceuticals in a report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Wednesday, July 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $44.55.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth about $976,000. Comerica Bank increased its position in shares of Ionis Pharmaceuticals by 33.3% in the fourth quarter. Comerica Bank now owns 16,505 shares of the company’s stock worth $794,000 after buying an additional 4,122 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Ionis Pharmaceuticals by 361.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 97,341 shares of the company’s stock worth $4,656,000 after buying an additional 76,259 shares during the period. Norges Bank acquired a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth about $50,976,000. Finally, Teachers Advisors LLC increased its position in shares of Ionis Pharmaceuticals by 14.7% in the fourth quarter. Teachers Advisors LLC now owns 123,810 shares of the company’s stock worth $5,922,000 after buying an additional 15,904 shares during the period. Hedge funds and other institutional investors own 88.72% of the company’s stock.
About Ionis Pharmaceuticals
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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