Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Chairman Stanley T. Crooke sold 11,000 shares of Ionis Pharmaceuticals stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $55.35, for a total transaction of $608,850.00. Following the completion of the transaction, the chairman now directly owns 48,014 shares of the company’s stock, valued at $2,657,574.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Ionis Pharmaceuticals, Inc. (IONS) traded up 0.47% during midday trading on Thursday, reaching $51.02. 764,414 shares of the company’s stock were exchanged. Ionis Pharmaceuticals, Inc. has a 12 month low of $24.58 and a 12 month high of $60.01. The stock’s market cap is $6.32 billion. The company’s 50 day moving average is $53.06 and its 200-day moving average is $46.75.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Tuesday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.13. Ionis Pharmaceuticals had a negative return on equity of 14.61% and a negative net margin of 4.80%. The firm had revenue of $110.30 million for the quarter, compared to analysts’ expectations of $86.03 million. During the same quarter in the previous year, the business posted ($0.52) earnings per share. The business’s revenue for the quarter was up 199.2% on a year-over-year basis. Equities analysts forecast that Ionis Pharmaceuticals, Inc. will post ($0.15) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IONS. Legal & General Group Plc boosted its position in Ionis Pharmaceuticals by 9.7% in the second quarter. Legal & General Group Plc now owns 44,480 shares of the company’s stock worth $2,262,000 after buying an additional 3,944 shares in the last quarter. SG Americas Securities LLC boosted its position in Ionis Pharmaceuticals by 30.9% in the second quarter. SG Americas Securities LLC now owns 6,315 shares of the company’s stock worth $321,000 after buying an additional 1,489 shares in the last quarter. State of Wisconsin Investment Board boosted its position in Ionis Pharmaceuticals by 2.3% in the second quarter. State of Wisconsin Investment Board now owns 24,616 shares of the company’s stock worth $1,252,000 after buying an additional 550 shares in the last quarter. Wrapmanager Inc. boosted its position in Ionis Pharmaceuticals by 3.1% in the second quarter. Wrapmanager Inc. now owns 18,577 shares of the company’s stock worth $945,000 after buying an additional 553 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Ionis Pharmaceuticals by 30.8% in the second quarter. Advisors Asset Management Inc. now owns 8,558 shares of the company’s stock worth $435,000 after buying an additional 2,016 shares in the last quarter. Hedge funds and other institutional investors own 88.82% of the company’s stock.
IONS has been the subject of several research reports. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Monday. BMO Capital Markets reiterated a “buy” rating and issued a $59.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, June 2nd. Sanford C. Bernstein assumed coverage on shares of Ionis Pharmaceuticals in a research report on Thursday, July 27th. They issued a “market perform” rating and a $57.00 target price on the stock. Cowen and Company reissued a “market perform” rating on shares of Ionis Pharmaceuticals in a research report on Monday, May 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price objective on shares of Ionis Pharmaceuticals in a research report on Wednesday, May 17th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $46.44.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.
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