Insider Selling: Ionis Pharmaceuticals Inc. (IONS) Chairman Sells 11,000 Shares of Stock
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) Chairman Stanley T. Crooke sold 11,000 shares of the business’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $36.61, for a total value of $402,710.00. Following the completion of the sale, the chairman now directly owns 35,029 shares in the company, valued at approximately $1,282,411.69. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Ionis Pharmaceuticals Inc. (NASDAQ:IONS) opened at 34.26 on Friday. The stock’s 50 day moving average price is $32.65 and its 200-day moving average price is $32.31. The company’s market cap is $4.14 billion. Ionis Pharmaceuticals Inc. has a 52-week low of $19.59 and a 52-week high of $65.34.
Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.05. The business had revenue of $38.50 million for the quarter, compared to the consensus estimate of $38.52 million. Ionis Pharmaceuticals had a negative return on equity of 126.88% and a negative net margin of 128.94%. The business’s quarterly revenue was down 68.0% compared to the same quarter last year. Equities analysts expect that Ionis Pharmaceuticals Inc. will post ($1.11) EPS for the current year.
Several equities analysts have issued reports on IONS shares. Piper Jaffray Cos. reiterated a “buy” rating and issued a $35.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday, June 10th. Zacks Investment Research downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, July 6th. BMO Capital Markets reiterated a “market perform” rating and issued a $26.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday, July 8th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Ionis Pharmaceuticals in a research report on Friday, July 8th. Finally, Cowen and Company reiterated a “hold” rating on shares of Ionis Pharmaceuticals in a research report on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $42.92.
Large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its stake in shares of Ionis Pharmaceuticals by 182.0% in the third quarter. BNP Paribas Arbitrage SA now owns 51,100 shares of the company’s stock worth $1,872,000 after buying an additional 32,982 shares in the last quarter. Tobam bought a new stake in shares of Ionis Pharmaceuticals during the second quarter worth about $4,630,000. Stifel Financial Corp bought a new stake in shares of Ionis Pharmaceuticals during the second quarter worth about $13,843,000. Amalgamated Bank increased its stake in shares of Ionis Pharmaceuticals by 35.8% in the second quarter. Amalgamated Bank now owns 19,232 shares of the company’s stock worth $690,000 after buying an additional 5,071 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Ionis Pharmaceuticals by 11.7% in the second quarter. Legal & General Group Plc now owns 64,960 shares of the company’s stock worth $1,513,000 after buying an additional 6,779 shares in the last quarter. 89.58% of the stock is currently owned by institutional investors and hedge funds.
Ionis Pharmaceuticals Company Profile
Ionis Pharmaceuticals, Inc, formerly Isis Pharmaceuticals, Inc, is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform.
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