Ionis Pharmaceuticals (NASDAQ:IONS) EVP Richard Geary Sells 33,038 Shares

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Richard Geary sold 33,038 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $75.72, for a total transaction of $2,501,637.36. Following the sale, the executive vice president directly owned 59,657 shares in the company, valued at approximately $4,517,228.04. This trade represents a 35.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ionis Pharmaceuticals Stock Performance

Shares of IONS traded down $0.55 during trading hours on Friday, hitting $73.55. The company’s stock had a trading volume of 2,332,340 shares, compared to its average volume of 1,971,165. The business has a 50 day simple moving average of $66.49 and a two-hundred day simple moving average of $47.79. Ionis Pharmaceuticals, Inc. has a 52-week low of $23.95 and a 52-week high of $76.78. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.87 and a quick ratio of 2.86. The company has a market cap of $11.91 billion, a price-to-earnings ratio of -43.52 and a beta of 0.33.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.80) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $131.75 million. During the same period last year, the firm earned ($0.95) EPS. Ionis Pharmaceuticals’s revenue for the quarter was up 17.2% on a year-over-year basis. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of institutional investors have recently made changes to their positions in IONS. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 14.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,175,533 shares of the company’s stock worth $488,016,000 after acquiring an additional 2,006,334 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Ionis Pharmaceuticals by 253.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,800,000 shares of the company’s stock valued at $150,138,000 after purchasing an additional 2,724,400 shares in the last quarter. Geode Capital Management LLC raised its position in Ionis Pharmaceuticals by 1.7% during the second quarter. Geode Capital Management LLC now owns 2,891,095 shares of the company’s stock valued at $114,245,000 after purchasing an additional 48,141 shares in the last quarter. BVF Inc. IL bought a new stake in Ionis Pharmaceuticals during the first quarter worth about $57,727,000. Finally, Groupama Asset Managment boosted its holdings in shares of Ionis Pharmaceuticals by 8.6% in the 2nd quarter. Groupama Asset Managment now owns 1,160,957 shares of the company’s stock worth $45,869,000 after purchasing an additional 91,746 shares in the last quarter. Institutional investors own 93.86% of the company’s stock.

Analyst Upgrades and Downgrades

IONS has been the subject of several analyst reports. Guggenheim raised their target price on Ionis Pharmaceuticals from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Wells Fargo & Company increased their price target on shares of Ionis Pharmaceuticals from $77.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, August 22nd. Piper Sandler raised their price objective on shares of Ionis Pharmaceuticals from $70.00 to $77.00 and gave the company an “overweight” rating in a research report on Tuesday. Citigroup upped their target price on shares of Ionis Pharmaceuticals from $69.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Finally, Wall Street Zen lowered shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ionis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.65.

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.