Patrick O’neil Sells 13,441 Shares of Ionis Pharmaceuticals (NASDAQ:IONS) Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Patrick O’neil sold 13,441 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $69.74, for a total transaction of $937,375.34. Following the completion of the transaction, the executive vice president owned 53,889 shares in the company, valued at approximately $3,758,218.86. This trade represents a 19.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Ionis Pharmaceuticals Trading Up 0.4%

Shares of NASDAQ IONS opened at $70.27 on Friday. Ionis Pharmaceuticals, Inc. has a 1-year low of $23.95 and a 1-year high of $71.87. The company has a market cap of $11.20 billion, a PE ratio of -38.19 and a beta of 0.33. 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 company has a 50-day moving average of $54.43 and a two-hundred day moving average of $41.58.

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

Institutional Investors Weigh In On Ionis Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in Ionis Pharmaceuticals by 3,786.5% in the first quarter. GAMMA Investing LLC now owns 28,993 shares of the company’s stock valued at $961,000 after purchasing an additional 28,247 shares in the last quarter. Fifth Third Bancorp increased its stake in Ionis Pharmaceuticals by 4.8% in the first quarter. Fifth Third Bancorp now owns 9,989 shares of the company’s stock valued at $301,000 after purchasing an additional 458 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Ionis Pharmaceuticals by 1,722.5% in the first quarter. Exchange Traded Concepts LLC now owns 3,244 shares of the company’s stock valued at $98,000 after purchasing an additional 3,066 shares in the last quarter. Moisand Fitzgerald Tamayo LLC bought a new stake in Ionis Pharmaceuticals in the first quarter valued at approximately $151,000. Finally, Sovran Advisors LLC increased its stake in Ionis Pharmaceuticals by 91.4% in the first quarter. Sovran Advisors LLC now owns 328,904 shares of the company’s stock valued at $9,341,000 after purchasing an additional 157,092 shares in the last quarter. 93.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on IONS shares. Royal Bank Of Canada boosted their target price on shares of Ionis Pharmaceuticals from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Bank of America boosted their target price on shares of Ionis Pharmaceuticals from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Raymond James Financial set a $75.00 target price on shares of Ionis Pharmaceuticals and gave the stock a “strong-buy” rating in a research note on Monday, September 22nd. Needham & Company LLC boosted their price target on shares of Ionis Pharmaceuticals from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, HC Wainwright reissued a “buy” rating and set a $95.00 price target on shares of Ionis Pharmaceuticals in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.28.

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.