Ionis Pharmaceuticals (NASDAQ:IONS) EVP Sells $1,856,392.56 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Eric Swayze sold 23,463 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $79.12, for a total transaction of $1,856,392.56. Following the completion of the sale, the executive vice president owned 30,453 shares in the company, valued at $2,409,441.36. This represents a 43.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Eric Swayze also recently made the following trade(s):

• On Thursday, October 16th, Eric Swayze sold 53 shares of Ionis Pharmaceuticals stock. The shares were sold at an average price of $73.62, for a total transaction of $3,901.86.

Ionis Pharmaceuticals Stock Down 2.0%

Shares of NASDAQ IONS opened at $81.54 on Friday. The firm’s 50-day moving average is $78.04 and its two-hundred day moving average is $61.89. The company has a market capitalization of $13.21 billion, a PE ratio of -48.25 and a beta of 0.28. Ionis Pharmaceuticals, Inc. has a 12-month low of $23.95 and a 12-month high of $86.15. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.79 and a quick ratio of 2.78.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, October 29th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.15) by $0.35. Ionis Pharmaceuticals had a negative return on equity of 44.26% and a negative net margin of 26.45%.The firm had revenue of $156.72 million during the quarter, compared to the consensus estimate of $131.75 million. During the same period in the previous year, the firm posted ($0.95) EPS. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. Equities analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IONS shares. JPMorgan Chase & Co. upgraded Ionis Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $49.00 to $80.00 in a research report on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, December 3rd. Piper Sandler upped their price objective on shares of Ionis Pharmaceuticals from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. HC Wainwright raised their target price on shares of Ionis Pharmaceuticals from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Finally, Royal Bank Of Canada lifted their target price on shares of Ionis Pharmaceuticals from $82.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ionis Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $87.05.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of large investors have recently bought and sold shares of IONS. Adage Capital Partners GP L.L.C. grew its stake in shares of Ionis Pharmaceuticals by 253.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,800,000 shares of the company’s stock valued at $150,138,000 after buying an additional 2,724,400 shares during the period. Marshall Wace LLP boosted its holdings in Ionis Pharmaceuticals by 7,219.3% in the third quarter. Marshall Wace LLP now owns 958,829 shares of the company’s stock valued at $62,727,000 after acquiring an additional 945,729 shares during the last quarter. American Century Companies Inc. boosted its holdings in Ionis Pharmaceuticals by 190.3% in the third quarter. American Century Companies Inc. now owns 1,372,225 shares of the company’s stock valued at $89,771,000 after acquiring an additional 899,476 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Ionis Pharmaceuticals during the third quarter valued at about $41,223,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Ionis Pharmaceuticals by 230.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 878,155 shares of the company’s stock worth $57,449,000 after acquiring an additional 612,362 shares during the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.