Ionis Pharmaceuticals (NASDAQ:IONS) EVP Sells $4,466,704.86 in Stock

by · The Cerbat Gem

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Get Free Report) EVP Holly Kordasiewicz sold 60,846 shares of Ionis Pharmaceuticals stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $73.41, for a total value of $4,466,704.86. Following the completion of the transaction, the executive vice president owned 22,458 shares of the company’s stock, valued at $1,648,641.78. The trade was a 73.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ionis Pharmaceuticals Stock Down 1.2%

Shares of IONS stock traded down $0.87 on Tuesday, reaching $73.09. 1,801,390 shares of the stock were exchanged, compared to its average volume of 2,053,600. The business’s 50 day moving average price is $74.92 and its 200 day moving average price is $77.71. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of -35.31 and a beta of 0.37. Ionis Pharmaceuticals, Inc. has a twelve month low of $34.84 and a twelve month high of $86.74. The company has a current ratio of 4.10, a quick ratio of 4.09 and a debt-to-equity ratio of 2.75.

Ionis Pharmaceuticals (NASDAQ:IONS – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.29. Ionis Pharmaceuticals had a negative return on equity of 58.65% and a negative net margin of 30.91%.The business had revenue of $246.09 million during the quarter, compared to analysts’ expectations of $195.57 million. During the same period in the prior year, the firm posted ($0.93) EPS. The business’s quarterly revenue was up 86.4% compared to the same quarter last year. As a group, sell-side analysts expect that Ionis Pharmaceuticals, Inc. will post -3.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in Ionis Pharmaceuticals by 72.5% in the first quarter. Goldman Sachs Group Inc. now owns 652,518 shares of the company’s stock worth $19,686,000 after purchasing an additional 274,310 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Ionis Pharmaceuticals by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 659,435 shares of the company’s stock valued at $19,895,000 after purchasing an additional 39,794 shares in the last quarter. Focus Partners Wealth boosted its position in Ionis Pharmaceuticals by 30.1% in the first quarter. Focus Partners Wealth now owns 9,832 shares of the company’s stock valued at $297,000 after buying an additional 2,277 shares in the last quarter. Franklin Resources Inc. acquired a new position in Ionis Pharmaceuticals during the 2nd quarter worth $220,000. Finally, Prudential Financial Inc. boosted its stake in Ionis Pharmaceuticals by 47.8% in the second quarter. Prudential Financial Inc. now owns 9,254 shares of the company’s stock valued at $341,000 after acquiring an additional 2,991 shares during the last quarter. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IONS. Needham & Company LLC boosted their target price on Ionis Pharmaceuticals from $103.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, March 25th. Oppenheimer reissued an “outperform” rating and set a $111.00 price target on shares of Ionis Pharmaceuticals in a research note on Thursday, April 30th. Royal Bank Of Canada upped their price target on Ionis Pharmaceuticals from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Piper Sandler increased their price target on Ionis Pharmaceuticals from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Finally, Canaccord Genuity Group initiated coverage on Ionis Pharmaceuticals in a research note on Monday, April 20th. They set a “buy” rating and a $110.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $100.90.

View Our Latest Stock Report on IONS

About Ionis Pharmaceuticals

(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.

Further Reading