Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) Director Spencer Berthelsen sold 8,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $73.49, for a total value of $587,920.00. Following the completion of the sale, the director owned 156,013 shares of the company's stock, valued at approximately $11,465,395.37. This represents a 4.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Ionis Pharmaceuticals Stock Down 1.2%
Shares of NASDAQ IONS opened at $73.09 on Wednesday. Ionis Pharmaceuticals, Inc. has a 12-month low of $34.84 and a 12-month high of $86.74. The company has a market cap of $12.08 billion, a P/E ratio of -35.31 and a beta of 0.37. The company has a current ratio of 4.10, a quick ratio of 4.09 and a debt-to-equity ratio of 2.75. The stock has a fifty day moving average price of $74.89 and a 200 day moving average price of $77.65.
Ionis Pharmaceuticals (NASDAQ:IONS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.29. The firm had revenue of $246.09 million during the quarter, compared to the consensus estimate of $195.57 million. Ionis Pharmaceuticals had a negative return on equity of 58.65% and a negative net margin of 30.91%.The firm's quarterly revenue was up 86.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.93) EPS. Research analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.64 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 21st. Royal Bank Of Canada raised their target price on Ionis Pharmaceuticals from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. Morgan Stanley raised their target price on Ionis Pharmaceuticals from $95.00 to $130.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. Barclays raised their target price on Ionis Pharmaceuticals from $106.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Finally, Leerink Partners raised their target price on Ionis Pharmaceuticals from $102.00 to $104.00 and gave the company an "outperform" rating in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.90.
Check Out Our Latest Stock Analysis on Ionis Pharmaceuticals
Hedge Funds Weigh In On Ionis Pharmaceuticals
Hedge funds have recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new position in Ionis Pharmaceuticals in the fourth quarter worth about $27,000. Cassaday & Co Wealth Management LLC acquired a new position in Ionis Pharmaceuticals in the first quarter worth about $30,000. Quarry LP acquired a new position in Ionis Pharmaceuticals in the third quarter worth about $38,000. Hilton Head Capital Partners LLC acquired a new position in Ionis Pharmaceuticals in the fourth quarter worth about $47,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Ionis Pharmaceuticals in the fourth quarter worth about $47,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.
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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