Eric Swayze Sells 6,849 Shares of Ionis Pharmaceuticals (NASDAQ:IONS) Stock

Key Points

• Eric Swayze, EVP of Ionis Pharmaceuticals, sold a total of 6,849 shares on October 6th for approximately $472,718, resulting in an 18.36% reduction of his ownership stake.
• Ionis Pharmaceuticals shares saw a 1.5% increase in trading, reaching $69.96, with a significant trading volume of over 3 million shares compared to its average.
• Analysts have a positive outlook on Ionis Pharmaceuticals, with multiple brokerages raising their price targets, leading to an average target of $78.28.

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) EVP Eric Swayze sold 6,849 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $69.02, for a total value of $472,717.98. Following the completion of the sale, the executive vice president owned 30,453 shares of the company's stock, valued at approximately $2,101,866.06. This represents a 18.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, October 2nd, Eric Swayze sold 12,972 shares of Ionis Pharmaceuticals stock. The shares were sold at an average price of $66.23, for a total value of $859,135.56.
• On Wednesday, October 1st, Eric Swayze sold 14,142 shares of Ionis Pharmaceuticals stock. The shares were sold at an average price of $66.09, for a total value of $934,644.78.
• On Tuesday, September 2nd, Eric Swayze sold 11,130 shares of Ionis Pharmaceuticals stock. The shares were sold at an average price of $49.67, for a total value of $552,827.10.

Ionis Pharmaceuticals Stock Up 1.5%

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

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.51. The company 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 company's revenue was up 100.9% on a year-over-year basis. During the same period last year, the firm earned ($0.45) earnings per share. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP raised its holdings in shares of 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 buying an additional 517 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Ionis Pharmaceuticals by 45.6% during the first quarter. Signaturefd LLC now owns 1,382 shares of the company's stock valued at $42,000 after buying an additional 433 shares during the last quarter. Ancora Advisors LLC bought a new stake in shares of Ionis Pharmaceuticals during the first quarter valued at approximately $60,000. CWM LLC raised its holdings 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 buying an additional 384 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Ionis Pharmaceuticals by 151.3% during the second quarter. Parallel Advisors LLC now owns 1,872 shares of the company's stock valued at $74,000 after buying an additional 1,127 shares during the last quarter. Institutional investors own 93.86% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IONS. Citigroup increased their price target on shares of Ionis Pharmaceuticals from $69.00 to $84.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Guggenheim increased their price target on shares of Ionis Pharmaceuticals from $90.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. Stifel Nicolaus increased their price target on shares of Ionis Pharmaceuticals from $43.00 to $67.00 and gave the stock a "hold" rating in a research report on Monday. Oppenheimer increased their price target on shares of Ionis Pharmaceuticals from $84.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Raymond James Financial set a $75.00 price target on shares of Ionis Pharmaceuticals and gave the stock a "strong-buy" rating in a research report on Monday, September 22nd. One 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 stock. According to MarketBeat.com, Ionis Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $78.28.

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.