Insider Selling: Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Director Sells 6,000 Shares of Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Director Joseph Klein III sold 6,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $42.71, for a total transaction of $256,260.00. Following the sale, the director now directly owns 16,346 shares of the company’s stock, valued at approximately $698,137.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ionis Pharmaceuticals Trading Down 1.9 %

IONS stock opened at $40.16 on Thursday. The firm has a fifty day moving average price of $42.74 and a 200 day moving average price of $46.87. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $34.79 and a fifty-two week high of $54.44. The firm has a market cap of $5.85 billion, a PE ratio of -15.69 and a beta of 0.41. The company has a debt-to-equity ratio of 3.18, a quick ratio of 5.83 and a current ratio of 5.90.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.12. Ionis Pharmaceuticals had a negative net margin of 46.32% and a negative return on equity of 90.29%. The business had revenue of $119.00 million during the quarter, compared to analyst estimates of $131.42 million. During the same quarter last year, the business earned ($0.87) earnings per share. Ionis Pharmaceuticals’s quarterly revenue was down 9.2% compared to the same quarter last year. Sell-side analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in shares of Ionis Pharmaceuticals in the 4th quarter valued at approximately $26,000. Pingora Partners LLC bought a new stake in Ionis Pharmaceuticals in the fourth quarter worth $25,000. Mather Group LLC. purchased a new position in Ionis Pharmaceuticals during the first quarter worth $29,000. Tennessee Valley Asset Management Partners purchased a new position in Ionis Pharmaceuticals during the fourth quarter worth $34,000. Finally, Peoples Bank KS bought a new position in Ionis Pharmaceuticals during the third quarter valued at $39,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Oppenheimer boosted their price target on Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Wednesday. William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. Royal Bank of Canada upped their price target on shares of Ionis Pharmaceuticals from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, Piper Sandler raised their price objective on shares of Ionis Pharmaceuticals from $62.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ionis Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $59.54.

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.