Ionis Pharmaceuticals (NASDAQ:IONS) EVP Holly Kordasiewicz Sells 60,846 Shares

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Holly Kordasiewicz sold 60,846 shares of the company’s stock in a transaction that occurred on 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 directly owned 22,458 shares of the company’s stock, valued at $1,648,641.78. This trade represents a 73.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ionis Pharmaceuticals Price Performance

IONS stock opened at $73.09 on Wednesday. The company has a market capitalization of $12.08 billion, a P/E 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 business has a 50 day simple moving average of $74.89 and a 200-day simple moving average of $77.65. 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) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.29. The business had revenue of $246.09 million during the quarter, compared to the consensus estimate of $195.57 million. Ionis Pharmaceuticals had a negative return on equity of 58.65% and a negative net margin of 30.91%.The company’s revenue was up 86.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.93) earnings per share. As a group, equities analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.64 EPS for the current year.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Several hedge funds have recently modified their holdings of IONS. Capital World Investors lifted its holdings in shares of Ionis Pharmaceuticals by 41.2% during the fourth quarter. Capital World Investors now owns 17,961,299 shares of the company’s stock worth $1,420,918,000 after purchasing an additional 5,238,571 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 19,941.6% during the fourth quarter. Franklin Resources Inc. now owns 1,321,345 shares of the company’s stock worth $104,532,000 after purchasing an additional 1,314,752 shares during the period. Baker BROS. Advisors LP lifted its holdings in shares of Ionis Pharmaceuticals by 216.1% during the fourth quarter. Baker BROS. Advisors LP now owns 1,791,841 shares of the company’s stock worth $141,753,000 after purchasing an additional 1,225,043 shares during the period. Marshall Wace LLP lifted its holdings in shares of Ionis Pharmaceuticals by 7,219.3% during the third quarter. Marshall Wace LLP now owns 958,829 shares of the company’s stock worth $62,727,000 after purchasing an additional 945,729 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 190.3% during the third quarter. American Century Companies Inc. now owns 1,372,225 shares of the company’s stock worth $89,771,000 after purchasing an additional 899,476 shares during the period. 93.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IONS has been the subject of several research analyst reports. Raymond James Financial initiated coverage on Ionis Pharmaceuticals in a report on Friday, April 10th. They issued an “outperform” rating and a $104.00 price objective for the company. Royal Bank Of Canada increased their price objective on Ionis Pharmaceuticals from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Piper Sandler increased their price objective on Ionis Pharmaceuticals from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a report on Tuesday, April 21st. Finally, TD Cowen reissued a “buy” rating and issued a $108.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday. Two research 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, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $100.90.

Ionis Pharmaceuticals Company Profile

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.