Eric Swayze Sells 12,972 Shares of Ionis Pharmaceuticals (NASDAQ:IONS) Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Eric Swayze sold 12,972 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $66.23, for a total value of $859,135.56. Following the transaction, the executive vice president directly owned 37,302 shares in the company, valued at approximately $2,470,511.46. This represents a 25.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Eric Swayze also recently made the following trade(s):

• On Wednesday, October 1st, Eric Swayze sold 14,142 shares of Ionis Pharmaceuticals stock. The stock was sold at an average price of $66.09, for a total value of $934,644.78.
• On Tuesday, September 2nd, Eric Swayze sold 11,130 shares of Ionis Pharmaceuticals stock. The stock was sold at an average price of $49.67, for a total value of $552,827.10.

Ionis Pharmaceuticals Trading Up 1.1%

NASDAQ:IONS opened at $69.15 on Friday. The company has a quick ratio of 2.86, a current ratio of 2.87 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $52.25 and its two-hundred day moving average is $40.63. Ionis Pharmaceuticals, Inc. has a 52 week low of $23.95 and a 52 week high of $69.25. The company has a market cap of $11.02 billion, a PE ratio of -37.58 and a beta of 0.33.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IONS. Needham & Company LLC raised their price target on Ionis Pharmaceuticals from $55.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. Morgan Stanley raised their price target on Ionis Pharmaceuticals from $71.00 to $86.00 and gave the stock an “overweight” rating in a report on Tuesday, September 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a report on Saturday, September 27th. Bank of America raised their price target on Ionis Pharmaceuticals from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Finally, Raymond James Financial set a $75.00 price target on Ionis Pharmaceuticals and gave the stock a “strong-buy” rating in a report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.88.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Large investors have recently modified their holdings of the stock. Exome Asset Management LLC boosted its stake in shares of Ionis Pharmaceuticals by 121.0% during the 1st quarter. Exome Asset Management LLC now owns 135,616 shares of the company’s stock worth $4,092,000 after acquiring an additional 74,249 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Ionis Pharmaceuticals by 3,786.5% during the 1st quarter. GAMMA Investing LLC now owns 28,993 shares of the company’s stock worth $961,000 after acquiring an additional 28,247 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Ionis Pharmaceuticals by 40.8% during the 1st quarter. Raymond James Financial Inc. now owns 148,690 shares of the company’s stock worth $4,486,000 after acquiring an additional 43,071 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Ionis Pharmaceuticals by 4.8% during the 1st quarter. Fifth Third Bancorp now owns 9,989 shares of the company’s stock worth $301,000 after acquiring an additional 458 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Ionis Pharmaceuticals during the 1st quarter worth $3,747,000. 93.86% of the stock is owned by institutional investors.

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.