Insider Selling: Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Sells 4,006 Shares of Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Joseph Baroldi sold 4,006 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $41.60, for a total transaction of $166,649.60. Following the sale, the executive vice president now owns 19,631 shares of the company’s stock, valued at approximately $816,649.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Ionis Pharmaceuticals Price Performance

NASDAQ IONS opened at $40.68 on Friday. The company has a market cap of $5.93 billion, a PE ratio of -15.89 and a beta of 0.39. Ionis Pharmaceuticals, Inc. has a 52 week low of $34.32 and a 52 week high of $54.44. The company has a quick ratio of 5.83, a current ratio of 5.90 and a debt-to-equity ratio of 3.18. The firm’s 50-day simple moving average is $43.86 and its two-hundred day simple moving average is $47.28.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.72. The business had revenue of $325.00 million for the quarter, compared to the consensus estimate of $176.01 million. Ionis Pharmaceuticals had a negative net margin of 46.32% and a negative return on equity of 90.29%. The company’s revenue was up 113.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.37) earnings per share. Research analysts predict that Ionis Pharmaceuticals, Inc. will post -4 earnings per share for the current year.

Institutional Investors Weigh In On Ionis Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of IONS. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 3.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 50,585 shares of the company’s stock worth $1,874,000 after buying an additional 1,604 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of Ionis Pharmaceuticals in the first quarter worth about $207,000. US Bancorp DE lifted its holdings in shares of Ionis Pharmaceuticals by 12.3% in the first quarter. US Bancorp DE now owns 21,458 shares of the company’s stock worth $795,000 after buying an additional 2,343 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 9.4% in the first quarter. PNC Financial Services Group Inc. now owns 9,662 shares of the company’s stock worth $358,000 after buying an additional 831 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in shares of Ionis Pharmaceuticals in the first quarter worth about $318,000. 93.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on IONS shares. Wolfe Research raised shares of Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research report on Wednesday, April 10th. William Blair reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their target price on shares of Ionis Pharmaceuticals from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Piper Sandler boosted their price target on shares of Ionis Pharmaceuticals from $62.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Bank of America upgraded shares of Ionis Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their target price for the company from $52.00 to $62.00 in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.08.

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.