Key Points
- Ionis Pharmaceuticals EVP Shannon Devers sold 1,357 shares at an average price of $43.54, for proceeds of $59,083.78. The sale covered tax withholding tied to vested equity awards and reduced Devers’ direct ownership by 7.08%.
- Ionis shares opened at $44.38, with a $7.38 billion market capitalization and a 12-month trading range of $42.08 to $86.74. The stock was trading below its 50-day and 200-day moving averages.
- Analysts maintain a consensus “Moderate Buy” rating, with 18 Buy, four Hold and one Sell rating and an average price target of $89.14. Institutional investors and hedge funds own 93.86% of the company.
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) EVP Shannon Devers sold 1,357 shares of the business's stock in a transaction on Friday, October 16th. The stock was sold at an average price of $43.54, for a total value of $59,083.78. Following the sale, the executive vice president directly owned 17,811 shares in the company, valued at $775,490.94. This trade represents a 7.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Ionis Pharmaceuticals Trading Up 3.4%
Shares of NASDAQ IONS opened at $44.38 on Tuesday. Ionis Pharmaceuticals, Inc. has a 12 month low of $42.08 and a 12 month high of $86.74. The company has a market cap of $7.38 billion, a price-to-earnings ratio of -12.83 and a beta of 0.38. The company has a quick ratio of 7.73, a current ratio of 7.89 and a debt-to-equity ratio of 3.07. The business has a fifty day simple moving average of $51.50 and a 200-day simple moving average of $63.97.
Wall Street Analysts Forecast Growth
IONS has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Ionis Pharmaceuticals from $76.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, September 22nd. Leerink Partners raised their target price on shares of Ionis Pharmaceuticals from $122.00 to $129.00 and gave the stock an "outperform" rating in a report on Thursday, June 25th. Citigroup dropped their target price on shares of Ionis Pharmaceuticals from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, July 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ionis Pharmaceuticals in a research report on Thursday. Finally, Wolfe Research restated a "peer perform" rating on shares of Ionis Pharmaceuticals in a report on Thursday, July 16th. Eighteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.14.
Get Our Latest Report on IONS
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the business. Checchi Capital Advisers LLC raised its holdings in Ionis Pharmaceuticals by 3.7% in the 1st quarter. Checchi Capital Advisers LLC now owns 4,429 shares of the company's stock valued at $333,000 after acquiring an additional 157 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Ionis Pharmaceuticals by 7.4% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 2,926 shares of the company's stock worth $232,000 after purchasing an additional 202 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Ionis Pharmaceuticals by 7.6% during the 2nd quarter. HighTower Advisors LLC now owns 4,084 shares of the company's stock worth $324,000 after purchasing an additional 287 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Ionis Pharmaceuticals during the first quarter valued at approximately $30,000. Finally, GAMMA Investing LLC increased its position in shares of Ionis Pharmaceuticals by 22.8% during the second quarter. GAMMA Investing LLC now owns 2,168 shares of the company's stock valued at $172,000 after purchasing an additional 402 shares during the period. 93.86% of the stock is owned by institutional investors and hedge funds.
About Ionis Pharmaceuticals
(
Get Free Report)
Ionis Pharmaceuticals, Inc is a biotechnology company focused on discovering and developing medicines using antisense technology. Its platform is designed to selectively target RNA and regulate the production of disease-related proteins. The company develops therapies for neurological, cardiovascular and metabolic, and rare diseases.
Ionis has developed and commercialized medicines both independently and through collaborations with larger pharmaceutical companies. Its marketed or partnered products include Spinraza (nusinersen) for spinal muscular atrophy, Tegsedi (inotersen) and Wainua (eplontersen) for hereditary transthyretin amyloidosis, and Tryngolza (olezarsen) for familial chylomicronemia syndrome.
Further Reading
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