Insider Selling: Ionis Pharmaceuticals, Inc. (IONS) SVP Sells 1,000 Shares of Stock
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) SVP Patrick R. O’neil sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $55.00, for a total transaction of $55,000.00. Following the completion of the sale, the senior vice president now directly owns 10,633 shares in the company, valued at approximately $584,815. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Ionis Pharmaceuticals, Inc. (IONS) traded up 2.28% during trading on Thursday, reaching $56.43. 1,135,349 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $50.97 and its 200 day moving average price is $47.59. The firm has a market cap of $7.02 billion, a P/E ratio of 271.30 and a beta of 3.13. Ionis Pharmaceuticals, Inc. has a 52-week low of $24.58 and a 52-week high of $60.01.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.03. Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The company had revenue of $104.15 million during the quarter, compared to analyst estimates of $93.29 million. During the same quarter in the previous year, the business posted ($0.47) earnings per share. The company’s revenue for the quarter was up 170.7% on a year-over-year basis. Equities research analysts anticipate that Ionis Pharmaceuticals, Inc. will post ($0.19) EPS for the current fiscal year.
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A number of analysts recently weighed in on IONS shares. TheStreet raised shares of Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a research note on Wednesday, July 5th. BMO Capital Markets reissued a “buy” rating and issued a $59.00 target price on shares of Ionis Pharmaceuticals in a research note on Friday, June 2nd. Needham & Company LLC reissued a “buy” rating and issued a $64.00 target price on shares of Ionis Pharmaceuticals in a research note on Wednesday, May 17th. Leerink Swann reissued an “outperform” rating and issued a $45.00 target price (down previously from $47.00) on shares of Ionis Pharmaceuticals in a research note on Wednesday, May 17th. Finally, Zacks Investment Research raised 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. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $49.31.
A number of large investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in shares of Ionis Pharmaceuticals by 62.8% in the 2nd quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock worth $109,000 after purchasing an additional 800 shares during the period. Hanseatic Management Services Inc. bought a new stake in shares of Ionis Pharmaceuticals in the 1st quarter valued at $138,000. Westpac Banking Corp bought a new stake in shares of Ionis Pharmaceuticals in the 1st quarter valued at $171,000. The Manufacturers Life Insurance Company increased its stake in shares of Ionis Pharmaceuticals by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock valued at $190,000 after acquiring an additional 311 shares in the last quarter. Finally, WFG Advisors LP increased its stake in shares of Ionis Pharmaceuticals by 77.2% in the 2nd quarter. WFG Advisors LP now owns 3,800 shares of the company’s stock valued at $193,000 after acquiring an additional 1,655 shares in the last quarter. Institutional investors and hedge funds own 89.32% of the company’s stock.
Ionis Pharmaceuticals Company Profile
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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