Ionis Pharmaceuticals (NASDAQ:IONS) EVP Sells $92,982.06 in Stock

Key Points

• Shannon Devers, EVP of Ionis Pharmaceuticals, sold 1,263 shares for a total of $92,982.06, resulting in a 6.73% decrease in their ownership stake.
• Ionis reported an impressive 100.9% year-over-year revenue growth with $452 million and earnings per share of $0.70, significantly beating analyst expectations.
• Numerous analysts raised their price targets for Ionis stock, with a consensus target price of $78.50 and ratings ranging from "Strong Buy" to "Sell."

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) EVP Shannon Devers sold 1,263 shares of the business's stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $73.62, for a total transaction of $92,982.06. Following the completion of the sale, the executive vice president directly owned 17,494 shares of the company's stock, valued at $1,287,908.28. This represents a 6.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ionis Pharmaceuticals Price Performance

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

Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.70 EPS 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 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 business's revenue for the quarter was up 100.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.45) EPS. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on IONS shares. Royal Bank Of Canada upped their price objective on shares of Ionis Pharmaceuticals from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. Oppenheimer upped their price target on shares of Ionis Pharmaceuticals from $84.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, October 8th. Morgan Stanley upped their price target on shares of Ionis Pharmaceuticals from $86.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday. Bank of America upped their price objective on shares of Ionis Pharmaceuticals from $81.00 to $83.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. Finally, HC Wainwright reissued a "buy" rating and set a $95.00 target price on shares of Ionis Pharmaceuticals in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ionis Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $78.50.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exome Asset Management LLC boosted its position in Ionis Pharmaceuticals by 121.0% during the first quarter. Exome Asset Management LLC now owns 135,616 shares of the company's stock worth $4,092,000 after purchasing an additional 74,249 shares during the period. Raymond James Financial Inc. raised its stake in Ionis Pharmaceuticals by 40.8% in the first quarter. Raymond James Financial Inc. now owns 148,690 shares of the company's stock valued at $4,486,000 after purchasing an additional 43,071 shares in the last quarter. Wedmont Private Capital purchased a new position in shares of Ionis Pharmaceuticals during the second quarter worth approximately $226,000. Fifth Third Bancorp raised its stake in shares of Ionis Pharmaceuticals by 4.8% during the first quarter. Fifth Third Bancorp now owns 9,989 shares of the company's stock worth $301,000 after acquiring an additional 458 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Ionis Pharmaceuticals in the first quarter worth $3,747,000. Institutional investors own 93.86% of the company's stock.

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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