Richard Geary Sells 89,249 Shares of Ionis Pharmaceuticals (NASDAQ:IONS) Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Richard Geary sold 89,249 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $75.11, for a total transaction of $6,703,492.39. Following the completion of the sale, the executive vice president directly owned 59,657 shares in the company, valued at approximately $4,480,837.27. This represents a 59.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ionis Pharmaceuticals Trading Down 0.9%

Shares of NASDAQ:IONS traded down $0.65 during trading on Monday, reaching $73.65. The stock had a trading volume of 2,576,023 shares, compared to its average volume of 1,967,082. The firm’s fifty day moving average is $64.61 and its 200 day moving average is $47.10. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.86 and a current ratio of 2.87. Ionis Pharmaceuticals, Inc. has a 52 week low of $23.95 and a 52 week high of $75.49. The stock has a market cap of $11.93 billion, a price-to-earnings ratio of -43.58 and a beta of 0.33.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Wednesday, October 29th. The company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($1.15) by $0.35. Ionis Pharmaceuticals had a negative net margin of 26.45% and a negative return on equity of 45.29%. The company had revenue of $157.00 million for the quarter, compared to analyst estimates of $131.75 million. During the same period in the prior year, the firm posted ($0.95) EPS. The company’s quarterly revenue was up 17.2% on a year-over-year basis. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IONS. Jefferies Financial Group upped their price objective on shares of Ionis Pharmaceuticals from $83.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Citigroup upped their price objective on shares of Ionis Pharmaceuticals from $69.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. JPMorgan Chase & Co. upgraded shares of Ionis Pharmaceuticals from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $49.00 to $80.00 in a report on Wednesday, October 8th. Wells Fargo & Company upped their price objective on shares of Ionis Pharmaceuticals from $77.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, August 22nd. Finally, Barclays upped their price objective on shares of Ionis Pharmaceuticals from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given 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 $83.05.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. bought a new position in Ionis Pharmaceuticals in the 3rd quarter worth approximately $25,000. Golden State Wealth Management LLC grew its stake in Ionis Pharmaceuticals by 198.4% during the third quarter. Golden State Wealth Management LLC now owns 376 shares of the company’s stock valued at $25,000 after acquiring an additional 250 shares in the last quarter. Mather Group LLC. purchased a new position in Ionis Pharmaceuticals during the third quarter valued at approximately $27,000. Allworth Financial LP grew its stake in Ionis Pharmaceuticals by 231.8% during 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. Finally, Signaturefd LLC grew its stake in Ionis Pharmaceuticals by 45.6% during 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. Hedge funds and other institutional investors own 93.86% of the company’s stock.

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.