Eric Swayze Sells 14,142 Shares of Ionis Pharmaceuticals (NASDAQ:IONS) Stock

Key Points

• Eric Swayze, EVP of Ionis Pharmaceuticals, sold 14,142 shares for approximately $934,644, reducing his ownership by 27.49% to a remaining 37,302 shares.
• Recently, Ionis Pharmaceuticals saw an impressive 100.9% increase in quarterly revenue, reporting $452 million, significantly exceeding analyst estimates.
• Multiple analysts have upgraded Ionis Pharmaceuticals, with several raising the price target to a range of $65.00 to $96.00, reflecting increased market confidence in the company's performance.

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) EVP Eric Swayze sold 14,142 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $66.09, for a total transaction of $934,644.78. Following the completion of the transaction, the executive vice president directly owned 37,302 shares of the company's stock, valued at $2,465,289.18. The trade was a 27.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, October 2nd, Eric Swayze sold 12,972 shares of Ionis Pharmaceuticals stock. The stock was sold at an average price of $66.23, for a total transaction of $859,135.56.
• On Tuesday, September 2nd, Eric Swayze sold 11,130 shares of Ionis Pharmaceuticals stock. The stock was sold at an average price of $49.67, for a total transaction of $552,827.10.

Ionis Pharmaceuticals Price Performance

IONS traded up $2.60 on Thursday, reaching $68.40. 2,999,327 shares of the company's stock were exchanged, compared to its average volume of 2,312,510. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.87 and a quick ratio of 2.86. The stock has a market cap of $10.90 billion, a PE ratio of -37.17 and a beta of 0.33. The stock's fifty day moving average price is $51.71 and its 200-day moving average price is $40.33. Ionis Pharmaceuticals, Inc. has a twelve month low of $23.95 and a twelve month high of $68.41.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.19 by $0.51. The firm had revenue of $452.00 million for the quarter, compared to analyst estimates of $270.90 million. Ionis Pharmaceuticals had a negative net margin of 28.25% and a negative return on equity of 45.29%. The business's revenue for the quarter was up 100.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.45) EPS. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Ionis Pharmaceuticals by 44.2% in the third quarter. GAMMA Investing LLC now owns 1,341 shares of the company's stock worth $88,000 after buying an additional 411 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Ionis Pharmaceuticals by 0.3% during the second quarter. Corient Private Wealth LLC now owns 237,840 shares of the company's stock worth $9,397,000 after purchasing an additional 707 shares during the period. Osaic Holdings Inc. raised its position in Ionis Pharmaceuticals by 123.2% during the second quarter. Osaic Holdings Inc. now owns 5,296 shares of the company's stock valued at $209,000 after acquiring an additional 2,923 shares in the last quarter. Orion Porfolio Solutions LLC acquired a new position in shares of Ionis Pharmaceuticals during the 2nd quarter worth $221,000. Finally, Marex Group plc acquired a new position in shares of Ionis Pharmaceuticals during the 2nd quarter worth $3,294,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IONS has been the topic of several analyst reports. BMO Capital Markets raised shares of Ionis Pharmaceuticals from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $40.00 to $70.00 in a report on Wednesday, September 3rd. Royal Bank Of Canada raised their price objective on shares of Ionis Pharmaceuticals from $70.00 to $80.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. Jefferies Financial Group boosted their price objective on shares of Ionis Pharmaceuticals from $83.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. HC Wainwright reiterated a "buy" rating and set a $95.00 price objective on shares of Ionis Pharmaceuticals in a research note on Tuesday, September 23rd. Finally, The Goldman Sachs Group upgraded shares of Ionis Pharmaceuticals from a "sell" rating to a "neutral" rating and increased their price objective for the company from $45.00 to $65.00 in a research note on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Ionis Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $73.88.

Ionis Pharmaceuticals Company Profile

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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