Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Sells $166,649.60 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Joseph Baroldi sold 4,006 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $41.60, for a total value of $166,649.60. Following the completion of the transaction, the executive vice president now owns 19,631 shares in the company, valued at approximately $816,649.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ionis Pharmaceuticals Price Performance

Shares of NASDAQ:IONS traded down $0.63 on Wednesday, hitting $40.91. The company’s stock had a trading volume of 1,176,174 shares, compared to its average volume of 1,160,535. Ionis Pharmaceuticals, Inc. has a 1 year low of $34.32 and a 1 year high of $54.44. The company has a debt-to-equity ratio of 3.18, a current ratio of 5.90 and a quick ratio of 5.83. The company has a market capitalization of $5.96 billion, a PE ratio of -15.98 and a beta of 0.39. The company has a 50-day simple moving average of $44.43 and a 200 day simple moving average of $47.39.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Wednesday, February 21st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.72. The business had revenue of $325.00 million during the quarter, compared to analyst estimates of $176.01 million. Ionis Pharmaceuticals had a negative net margin of 46.32% and a negative return on equity of 90.29%. Ionis Pharmaceuticals’s revenue for the quarter was up 113.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.37) earnings per share. Sell-side analysts forecast that Ionis Pharmaceuticals, Inc. will post -4 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IONS. PNC Financial Services Group Inc. boosted its stake in Ionis Pharmaceuticals by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the company’s stock worth $424,000 after buying an additional 202 shares in the last quarter. Grandfield & Dodd LLC boosted its stake in shares of Ionis Pharmaceuticals by 0.7% in the 4th quarter. Grandfield & Dodd LLC now owns 33,104 shares of the company’s stock valued at $1,675,000 after purchasing an additional 242 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Ionis Pharmaceuticals by 21.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,429 shares of the company’s stock valued at $53,000 after purchasing an additional 249 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Ionis Pharmaceuticals by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 62,532 shares of the company’s stock worth $2,836,000 after purchasing an additional 310 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Ionis Pharmaceuticals by 2.3% in the third quarter. Victory Capital Management Inc. now owns 15,436 shares of the company’s stock worth $700,000 after purchasing an additional 348 shares during the last quarter. Institutional investors own 93.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. William Blair reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Tuesday, April 9th. Bank of America upgraded shares of Ionis Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their target price for the stock from $52.00 to $62.00 in a research report on Tuesday, January 2nd. Piper Sandler boosted their price target on shares of Ionis Pharmaceuticals from $62.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Tuesday, April 9th. Finally, Oppenheimer lifted their price objective on shares of Ionis Pharmaceuticals from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.08.

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.