B Lynne Parshall Sells 5,000 Shares of Ionis Pharmaceuticals (NASDAQ:IONS) Stock

Key Points

• B Lynne Parshall, a director at Ionis Pharmaceuticals, sold 5,000 shares at an average price of $71.74, decreasing her ownership by 7.54%.
• Ionis Pharmaceuticals' stock currently has a market capitalization of $11.65 billion and has recently traded at $73.07, up 0.9% during midday trading.
• Analysts have upgraded Ionis Pharmaceuticals' rating with several firms, including BMO Capital Markets and Morgan Stanley, setting varying price targets and indicating a generally positive outlook for the stock.

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) Director B Lynne Parshall sold 5,000 shares of the business's stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $71.74, for a total transaction of $358,700.00. Following the transaction, the director owned 61,344 shares in the company, valued at approximately $4,400,818.56. This trade represents a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

B Lynne Parshall also recently made the following trade(s):

• On Tuesday, September 2nd, B Lynne Parshall sold 20,000 shares of Ionis Pharmaceuticals stock. The stock was sold at an average price of $50.91, for a total transaction of $1,018,200.00.
• On Wednesday, August 6th, B Lynne Parshall sold 5,000 shares of Ionis Pharmaceuticals stock. The stock was sold at an average price of $41.93, for a total transaction of $209,650.00.

Ionis Pharmaceuticals Stock Up 0.9%

Ionis Pharmaceuticals stock traded up $0.68 during midday trading on Thursday, hitting $73.07. 1,739,508 shares of the stock were exchanged, compared to its average volume of 2,206,730. The company has a quick ratio of 2.86, a current ratio of 2.87 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $11.65 billion, a price-to-earnings ratio of -39.71 and a beta of 0.33. Ionis Pharmaceuticals, Inc. has a 52-week low of $23.95 and a 52-week high of $74.42. The business's 50-day moving average price is $57.36 and its 200-day moving average price is $42.97.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.51. The firm had revenue of $452.00 million for the quarter, compared to analysts' expectations of $270.90 million. Ionis Pharmaceuticals had a negative net margin of 28.25% and a negative return on equity of 45.29%. The company's quarterly revenue was up 100.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.45) earnings per share. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on IONS. Wall Street Zen raised shares of Ionis Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. HC Wainwright restated a "buy" rating and set a $95.00 price objective on shares of Ionis Pharmaceuticals in a research note on Wednesday, October 8th. Guggenheim lifted their price target on shares of Ionis Pharmaceuticals from $90.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. BMO Capital Markets upgraded shares of Ionis Pharmaceuticals from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $40.00 to $70.00 in a research report on Wednesday, September 3rd. Finally, Morgan Stanley raised their price objective on Ionis Pharmaceuticals from $86.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $78.50.

Institutional Trading of Ionis Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. lifted its position in shares of Ionis Pharmaceuticals by 14.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 16,175,533 shares of the company's stock worth $488,016,000 after purchasing an additional 2,006,334 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Ionis Pharmaceuticals by 253.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,800,000 shares of the company's stock worth $150,138,000 after acquiring an additional 2,724,400 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Ionis Pharmaceuticals by 1.7% during the second quarter. Geode Capital Management LLC now owns 2,891,095 shares of the company's stock worth $114,245,000 after acquiring an additional 48,141 shares during the last quarter. BVF Inc. IL purchased a new stake in shares of Ionis Pharmaceuticals during the first quarter worth about $57,727,000. Finally, Groupama Asset Managment boosted its position in Ionis Pharmaceuticals by 8.6% in the second quarter. Groupama Asset Managment now owns 1,160,957 shares of the company's stock valued at $45,869,000 after buying an additional 91,746 shares during the last quarter. 93.86% of the stock is currently owned by institutional investors.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.