Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) major shareholder Ionis Pharmaceuticals Inc bought 3,125,000 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were purchased at an average price of $8.00 per share, for a total transaction of $25,000,000.00. Following the purchase, the insider now owns 28,884,540 shares in the company, valued at approximately $231,076,320. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Ionis Pharmaceuticals, Inc. (IONS) traded up 0.95% during mid-day trading on Friday, hitting $56.39. 1,165,808 shares of the stock were exchanged. The stock’s market cap is $6.99 billion. Ionis Pharmaceuticals, Inc. has a 52-week low of $24.58 and a 52-week high of $57.77. The stock’s 50 day moving average is $51.90 and its 200 day moving average is $46.44.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Tuesday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.13. The business had revenue of $110.30 million for the quarter, compared to the consensus estimate of $86.03 million. Ionis Pharmaceuticals had a negative net margin of 4.80% and a negative return on equity of 14.61%. The company’s revenue was up 199.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.52) earnings per share. Analysts forecast that Ionis Pharmaceuticals, Inc. will post ($0.27) EPS for the current fiscal year.

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A number of research analysts recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and set a $62.00 target price (up previously from $59.00) on shares of Ionis Pharmaceuticals in a research note on Wednesday, July 12th. Stifel Nicolaus restated a “hold” rating and set a $42.00 target price on shares of Ionis Pharmaceuticals in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Wednesday, July 12th. Cowen and Company restated a “market perform” rating on shares of Ionis Pharmaceuticals in a research note on Monday, May 22nd. Finally, Piper Jaffray Companies set a $51.00 target price on shares of Ionis Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, May 10th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $44.55.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Ionis Pharmaceuticals by 37,569.7% in the first quarter. BlackRock Inc. now owns 6,559,808 shares of the company’s stock worth $263,704,000 after buying an additional 6,542,394 shares during the period. Wellington Management Group LLP boosted its stake in shares of Ionis Pharmaceuticals by 56.1% in the first quarter. Wellington Management Group LLP now owns 9,360,553 shares of the company’s stock worth $376,295,000 after buying an additional 3,364,621 shares during the period. State Street Corp boosted its stake in shares of Ionis Pharmaceuticals by 20.5% in the first quarter. State Street Corp now owns 3,340,471 shares of the company’s stock worth $134,285,000 after buying an additional 567,792 shares during the period. BB Biotech AG boosted its stake in shares of Ionis Pharmaceuticals by 7.9% in the first quarter. BB Biotech AG now owns 7,461,295 shares of the company’s stock worth $299,944,000 after buying an additional 548,123 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Ionis Pharmaceuticals by 4.3% in the first quarter. Vanguard Group Inc. now owns 9,437,796 shares of the company’s stock worth $379,399,000 after buying an additional 384,830 shares during the period. Institutional investors and hedge funds 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.

Insider Buying and Selling by Quarter for Ionis Pharmaceuticals (NASDAQ:IONS)

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