Insider Selling: Ionis Pharmaceuticals, Inc. (IONS) Chairman Sells 27,500 Shares of Stock
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Chairman Stanley T. Crooke sold 27,500 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $52.89, for a total transaction of $1,454,475.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Ionis Pharmaceuticals, Inc. (NASDAQ IONS) traded up 3.07% during trading on Wednesday, hitting $54.31. 861,051 shares of the stock were exchanged. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 261.11 and a beta of 3.12. The stock’s 50 day moving average price is $52.79 and its 200-day moving average price is $48.81. Ionis Pharmaceuticals, Inc. has a one year low of $24.58 and a one year high of $60.01.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The firm had revenue of $104.15 million during the quarter, compared to analyst estimates of $93.29 million. Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. The business’s revenue for the quarter was up 170.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. On average, analysts predict that Ionis Pharmaceuticals, Inc. will post ($0.17) EPS for the current year.
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Several hedge funds have recently modified their holdings of the company. Intl Fcstone Inc. acquired a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $598,000. WFG Advisors LP lifted its holdings 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 worth $193,000 after acquiring an additional 1,655 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $381,000. Verition Fund Management LLC acquired a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $742,000. Finally, Bank of Nova Scotia acquired a new position in shares of Ionis Pharmaceuticals in the 2nd quarter worth approximately $1,526,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.
A number of research analysts recently commented on IONS shares. TheStreet raised shares of Ionis Pharmaceuticals from a “d+” rating to a “c-” rating in a report on Wednesday, July 5th. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Ionis Pharmaceuticals in a report on Tuesday, September 12th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price target (up previously from $59.56) on shares of Ionis Pharmaceuticals in a report on Tuesday, July 25th. Finally, Barclays PLC started coverage on shares of Ionis Pharmaceuticals in a report on Wednesday, September 6th. They issued an “equal weight” rating and a $55.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Ionis Pharmaceuticals has an average rating of “Hold” and a consensus target price of $49.11.
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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