Brett Monia Sells 437 Shares of Ionis Pharmaceuticals (NASDAQ:IONS) Stock

Key Points

• Brett Monia, CEO of Ionis Pharmaceuticals, sold 437 shares of the company's stock at an average price of $69.26, totaling approximately $30,266.62, which represents a 0.24% decrease in his position.
• The stock has been rated positively by several analysts, with target prices raised by firms like Barclays and Morgan Stanley, and an average rating of "Moderate Buy" with a consensus price target of $78.28.
• Ionis Pharmaceuticals reported a significant increase in its quarterly revenue, up 100.9% year-over-year, achieving $452.00 million, alongside an earnings per share (EPS) of $0.70, surpassing expectations.

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) CEO Brett Monia sold 437 shares of the business's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $69.26, for a total value of $30,266.62. Following the sale, the chief executive officer directly owned 179,572 shares of the company's stock, valued at approximately $12,437,156.72. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Ionis Pharmaceuticals Trading Up 1.5%

Shares of IONS stock traded up $1.02 during mid-day trading on Wednesday, reaching $69.96. The company's stock had a trading volume of 3,102,562 shares, compared to its average volume of 1,961,000. 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 firm has a market capitalization of $11.15 billion, a PE ratio of -38.02 and a beta of 0.33. The company's 50 day simple moving average is $53.36 and its 200-day simple moving average is $41.13. Ionis Pharmaceuticals, Inc. has a 12-month low of $23.95 and a 12-month high of $71.87.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IONS shares. Barclays upped their target price on Ionis Pharmaceuticals from $78.00 to $82.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 23rd. Morgan Stanley upped their target price on Ionis Pharmaceuticals from $71.00 to $86.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 23rd. Guggenheim boosted their price objective on shares of Ionis Pharmaceuticals from $90.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Raymond James Financial set a $75.00 price objective on shares of Ionis Pharmaceuticals and gave the stock a "strong-buy" rating in a report on Monday, September 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Ionis Pharmaceuticals from $77.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $78.28.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Allworth Financial LP increased its stake in Ionis Pharmaceuticals by 231.8% during the second quarter. Allworth Financial LP now owns 740 shares of the company's stock valued at $29,000 after purchasing an additional 517 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Ionis Pharmaceuticals by 45.6% in the 1st quarter. Signaturefd LLC now owns 1,382 shares of the company's stock worth $42,000 after acquiring an additional 433 shares during the period. Ancora Advisors LLC bought a new position in shares of Ionis Pharmaceuticals in the first quarter valued at approximately $60,000. CWM LLC increased its stake in shares of Ionis Pharmaceuticals by 18.7% during the first quarter. CWM LLC now owns 2,435 shares of the company's stock valued at $73,000 after acquiring an additional 384 shares during the period. Finally, Parallel Advisors LLC lifted its position in Ionis Pharmaceuticals by 151.3% in the second quarter. Parallel Advisors LLC now owns 1,872 shares of the company's stock worth $74,000 after purchasing an additional 1,127 shares during the period. Institutional investors and hedge funds own 93.86% of the company's stock.

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.

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