Insider Selling: Ionis Pharmaceuticals (NASDAQ:IONS) Director Sells $1,100,400.00 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Director Joseph Wender sold 16,800 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $65.50, for a total value of $1,100,400.00. Following the sale, the director owned 92,035 shares of the company’s stock, valued at approximately $6,028,292.50. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Ionis Pharmaceuticals Price Performance

NASDAQ:IONS opened at $69.15 on Friday. Ionis Pharmaceuticals, Inc. has a 12 month low of $23.95 and a 12 month high of $69.25. The stock has a 50 day moving average of $52.25 and a two-hundred day moving average of $40.63. The company has a current ratio of 2.87, a quick ratio of 2.86 and a debt-to-equity ratio of 0.99. The firm has a market cap of $11.02 billion, a P/E ratio of -37.58 and a beta of 0.33.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.51. The business had revenue of $452.00 million during the quarter, compared to analyst estimates of $270.90 million. Ionis Pharmaceuticals had a negative return on equity of 45.29% and a negative net margin of 28.25%.The business’s revenue was up 100.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.45) earnings per share. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. On average, analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group upgraded Ionis Pharmaceuticals from a “sell” rating to a “neutral” rating and upped their price target for the company from $45.00 to $65.00 in a research report on Friday, September 26th. Wells Fargo & Company upped their price target on Ionis Pharmaceuticals from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Piper Sandler upped their price target on Ionis Pharmaceuticals from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research report on Saturday, September 27th. Finally, Wall Street Zen upgraded Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.88.

Institutional Trading of Ionis Pharmaceuticals

Several hedge funds have recently modified their holdings of IONS. Allworth Financial LP raised its stake in shares of Ionis Pharmaceuticals by 231.8% in the second quarter. Allworth Financial LP now owns 740 shares of the company’s stock valued at $29,000 after acquiring an additional 517 shares in the last quarter. Signaturefd LLC raised its stake in shares of Ionis Pharmaceuticals by 45.6% in the first quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock valued at $42,000 after acquiring an additional 433 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Ionis Pharmaceuticals in the first quarter valued at $60,000. CWM LLC raised its stake in shares of Ionis Pharmaceuticals by 18.7% in the first quarter. CWM LLC now owns 2,435 shares of the company’s stock valued at $73,000 after acquiring an additional 384 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Ionis Pharmaceuticals by 151.3% in the second quarter. Parallel Advisors LLC now owns 1,872 shares of the company’s stock valued at $74,000 after acquiring an additional 1,127 shares in the last quarter. 93.86% of the stock is currently owned by institutional investors and hedge funds.

About Ionis Pharmaceuticals

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.