Ionis Pharmaceuticals (NASDAQ:IONS) EVP Shannon Devers Sells 1,263 Shares

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Shannon Devers sold 1,263 shares of the stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $73.62, for a total value of $92,982.06. Following the transaction, the executive vice president owned 17,494 shares of the company’s stock, valued at $1,287,908.28. The trade was a 6.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Ionis Pharmaceuticals Stock Up 0.9%

Shares of NASDAQ IONS opened at $73.07 on Friday. Ionis Pharmaceuticals, Inc. has a 52 week low of $23.95 and a 52 week high of $74.42. The business has a 50-day simple moving average of $57.36 and a two-hundred day simple moving average of $42.97. 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 company has a market cap of $11.65 billion, a P/E ratio of -39.71 and a beta of 0.33.

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

Analyst Ratings Changes

Several brokerages have commented on IONS. JPMorgan Chase & Co. upgraded Ionis Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $49.00 to $80.00 in a research note on Wednesday, October 8th. HC Wainwright restated a “buy” rating and issued a $95.00 target price on shares of Ionis Pharmaceuticals in a research note on Wednesday, October 8th. Bank of America raised their target price on Ionis Pharmaceuticals from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Needham & Company LLC lifted their price target on Ionis Pharmaceuticals from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

Institutional Trading of Ionis Pharmaceuticals

A number of large investors have recently modified their holdings of the business. CWM LLC boosted its position in shares of Ionis Pharmaceuticals by 7.3% during the 3rd quarter. CWM LLC now owns 2,488 shares of the company’s stock valued at $163,000 after acquiring an additional 170 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Ionis Pharmaceuticals by 105.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 18,070 shares of the company’s stock worth $1,182,000 after buying an additional 9,268 shares during the last quarter. Mitchell & Pahl Private Wealth LLC bought a new stake in Ionis Pharmaceuticals in the 3rd quarter worth approximately $234,000. Assenagon Asset Management S.A. lifted its position in Ionis Pharmaceuticals by 1,669.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 312,297 shares of the company’s stock worth $20,430,000 after buying an additional 294,643 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Ionis Pharmaceuticals by 44.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,341 shares of the company’s stock worth $88,000 after buying an additional 411 shares during the last quarter. Institutional investors own 93.86% of the company’s stock.

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.