Ionis Pharmaceuticals (NASDAQ:IONS) Director Sells $1,100,400.00 in Stock

Key Points

• Ionis Pharmaceuticals Director Joseph Wender sold 16,800 shares of the company's stock for a total of $1,100,400.00, which represents a 15.44% decrease in his ownership.
• The stock price of Ionis Pharmaceuticals increased to $68.40 with a trading volume of nearly 3 million shares, and the company has a market cap of $10.90 billion.
• Ionis Pharmaceuticals reported significant earnings, with a quarterly revenue of $452 million, reflecting a 100.9% increase year-over-year, and a positive earnings per share of $0.70 for the last quarter.

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) Director Joseph Wender sold 16,800 shares of the business's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $65.50, for a total value of $1,100,400.00. Following the completion of the sale, the director directly owned 92,035 shares of the company's stock, valued at $6,028,292.50. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Ionis Pharmaceuticals Stock Performance

Shares of Ionis Pharmaceuticals stock traded up $2.60 on Thursday, hitting $68.40. The stock had a trading volume of 2,999,327 shares, compared to its average volume of 2,312,510. Ionis Pharmaceuticals, Inc. has a 52-week low of $23.95 and a 52-week high of $68.41. The company has a current ratio of 2.87, a quick ratio of 2.86 and a debt-to-equity ratio of 0.99. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of -37.17 and a beta of 0.33. The company's 50 day moving average price is $51.71 and its 200 day moving average price is $40.33.

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last posted 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. Ionis Pharmaceuticals had a negative return on equity of 45.29% and a negative net margin of 28.25%.The business had revenue of $452.00 million during the quarter, compared to the consensus estimate of $270.90 million. During the same period in the previous year, the business earned ($0.45) EPS. The business's quarterly revenue was up 100.9% on a year-over-year basis. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current year.

Institutional Investors Weigh In On Ionis Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP lifted its stake in shares of Ionis Pharmaceuticals by 231.8% during the 2nd quarter. Allworth Financial LP now owns 740 shares of the company's stock worth $29,000 after purchasing an additional 517 shares during the period. Signaturefd LLC lifted its stake in shares of Ionis Pharmaceuticals by 45.6% during the 1st quarter. Signaturefd LLC now owns 1,382 shares of the company's stock worth $42,000 after purchasing an additional 433 shares during the period. Ancora Advisors LLC purchased a new position in shares of Ionis Pharmaceuticals during the 1st quarter worth $60,000. CWM LLC lifted its stake in shares of Ionis Pharmaceuticals by 18.7% during the 1st quarter. CWM LLC now owns 2,435 shares of the company's stock worth $73,000 after purchasing an additional 384 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Ionis Pharmaceuticals by 151.3% during the 2nd 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. Hedge funds and other institutional investors own 93.86% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IONS. Jefferies Financial Group boosted their price target on Ionis Pharmaceuticals from $83.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Wells Fargo & Company boosted their price target on Ionis Pharmaceuticals from $77.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Needham & Company LLC boosted their price target on Ionis Pharmaceuticals from $55.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Barclays boosted their price target on Ionis Pharmaceuticals from $78.00 to $82.00 and gave the company an "overweight" rating in a research report on Tuesday, September 23rd. Finally, Royal Bank Of Canada boosted their target price on Ionis Pharmaceuticals from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $73.88.

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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