Brett Monia Sells 50,000 Shares of Ionis Pharmaceuticals (NASDAQ:IONS) Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett Monia sold 50,000 shares of Ionis Pharmaceuticals stock in a transaction on Friday, June 26th. The shares were sold at an average price of $80.59, for a total value of $4,029,500.00. Following the completion of the transaction, the chief executive officer directly owned 245,571 shares of the company’s stock, valued at $19,790,566.89. This represents a 16.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ionis Pharmaceuticals Trading Up 3.6%

Shares of Ionis Pharmaceuticals stock opened at $81.18 on Friday. The firm’s 50-day moving average price is $75.03 and its two-hundred day moving average price is $77.36. Ionis Pharmaceuticals, Inc. has a 12-month low of $39.37 and a 12-month high of $86.74. The company has a quick ratio of 4.09, a current ratio of 4.10 and a debt-to-equity ratio of 2.75. The company has a market capitalization of $13.42 billion, a price-to-earnings ratio of -39.22 and a beta of 0.37.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.29. Ionis Pharmaceuticals had a negative net margin of 30.91% and a negative return on equity of 58.65%. The business had revenue of $246.09 million for the quarter, compared to analyst estimates of $195.56 million. During the same quarter last year, the business posted ($0.93) EPS. The firm’s revenue for the quarter was up 86.4% on a year-over-year basis. On average, analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IONS shares. The Goldman Sachs Group lifted their target price on Ionis Pharmaceuticals from $74.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday. Oppenheimer restated an “outperform” rating and issued a $111.00 price target on shares of Ionis Pharmaceuticals in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of Ionis Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Royal Bank Of Canada raised their target price on shares of Ionis Pharmaceuticals from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.90.

Key Headlines Impacting Ionis Pharmaceuticals

Here are the key news stories impacting Ionis Pharmaceuticals this week:

• Positive Sentiment: Ionis received FDA approval expanding TRYNGOLZA to treat severe hypertriglyceridemia, strengthening the drug’s commercial opportunity and making it the first approved therapy for the condition. Article Title
• Positive Sentiment: Ionis announced a licensing deal with Recordati for ex-U.S. rights to zilganersen in Alexander disease, which provides upfront and royalty potential while allowing Ionis to keep U.S. commercialization rights. Article Title
• Positive Sentiment: Leerink Partners raised its price target on Ionis, signaling continued analyst confidence in the company’s pipeline and commercial execution. Article Title
• Neutral Sentiment: HC Wainwright kept a Buy rating but lowered some 2027 EPS estimates, which is a mild headwind but not a major shift in the firm’s overall view. Article Title

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. bought a new stake in Ionis Pharmaceuticals in the fourth quarter worth approximately $27,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Ionis Pharmaceuticals in the first quarter valued at approximately $30,000. Quarry LP bought a new stake in Ionis Pharmaceuticals during the third quarter worth $38,000. Johnson Financial Group Inc. purchased a new position in Ionis Pharmaceuticals in the third quarter worth $44,000. Finally, Laurel Wealth Advisors LLC bought a new position in Ionis Pharmaceuticals in the 4th quarter valued at $47,000. Institutional investors own 93.86% of the company’s stock.

About Ionis Pharmaceuticals

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.