Key Points
- Ionis EVP Shannon Devers sold 6,193 shares under a pre-arranged Rule 10b5-1 plan on April 2 at an average of $74.05, totaling $458,591.65 and reducing her stake by 27.47% to 16,348 shares.
- Recent quarter: Ionis reported EPS of ($1.41) (miss vs. ($1.23) consensus) while revenue came in at $203.33M (beat $156.07M); the company has a negative net margin (~40.36%) and revenue declined about 10.6% year-over-year.
- Analyst sentiment: The consensus is a "Moderate Buy" with an average price target of $92.84, and several firms have recently raised targets into the $100–$120 range despite one sell rating.
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) EVP Shannon Devers sold 6,193 shares of Ionis Pharmaceuticals stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $74.05, for a total value of $458,591.65. Following the transaction, the executive vice president directly owned 16,348 shares of the company's stock, valued at approximately $1,210,569.40. The trade was a 27.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Ionis Pharmaceuticals Stock Down 0.5%
IONS opened at $74.79 on Friday. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of -30.65 and a beta of 0.40. The company has a debt-to-equity ratio of 2.76, a quick ratio of 3.81 and a current ratio of 3.83. The firm's 50-day simple moving average is $78.55 and its 200-day simple moving average is $75.93. Ionis Pharmaceuticals, Inc. has a twelve month low of $23.95 and a twelve month high of $86.74.
Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($1.41) EPS for the quarter, missing analysts' consensus estimates of ($1.23) by ($0.18). The firm had revenue of $203.33 million during the quarter, compared to analyst estimates of $156.07 million. Ionis Pharmaceuticals had a negative net margin of 40.36% and a negative return on equity of 68.82%. Ionis Pharmaceuticals's quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.66) earnings per share. Equities research analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.
Institutional Trading of Ionis Pharmaceuticals
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. raised its holdings in Ionis Pharmaceuticals by 23.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,726 shares of the company's stock worth $216,000 after purchasing an additional 523 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Ionis Pharmaceuticals by 3,184.3% in the 4th quarter. Corient Private Wealth LLC now owns 216,438 shares of the company's stock valued at $17,122,000 after purchasing an additional 209,848 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of Ionis Pharmaceuticals during the 4th quarter worth approximately $228,000. Mercer Global Advisors Inc. ADV grew its position in shares of Ionis Pharmaceuticals by 48.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,554 shares of the company's stock worth $439,000 after buying an additional 1,807 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Ionis Pharmaceuticals by 8.4% during the fourth quarter. Mackenzie Financial Corp now owns 3,891 shares of the company's stock worth $307,000 after buying an additional 303 shares during the last quarter. 93.86% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on IONS. Piper Sandler raised their price target on Ionis Pharmaceuticals from $87.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, February 27th. Leerink Partners increased their target price on Ionis Pharmaceuticals from $102.00 to $104.00 and gave the stock an "outperform" rating in a report on Tuesday, March 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Ionis Pharmaceuticals in a research note on Thursday, January 22nd. HC Wainwright lifted their price target on Ionis Pharmaceuticals from $110.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, March 25th. Finally, Wells Fargo & Company increased their price objective on shares of Ionis Pharmaceuticals from $82.00 to $100.00 and gave the stock an "overweight" rating in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $92.84.
Check Out Our Latest Stock Analysis on Ionis Pharmaceuticals
Ionis Pharmaceuticals Company Profile
(
Get Free Report)
Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company's proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis' pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.
Since its founding in 1989 by Dr.
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