Ionis Pharmaceuticals Inc. (IONS) Chairman Stanley T. Crooke Sells 11,000 Shares of Stock
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) Chairman Stanley T. Crooke sold 11,000 shares of the stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $36.61, for a total value of $402,710.00. Following the completion of the transaction, the chairman now owns 35,029 shares in the company, valued at approximately $1,282,411.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Ionis Pharmaceuticals Inc. (NASDAQ:IONS) opened at 34.26 on Friday. The company’s market capitalization is $4.14 billion. The stock has a 50 day moving average price of $32.65 and a 200 day moving average price of $32.31. Ionis Pharmaceuticals Inc. has a 52-week low of $19.59 and a 52-week high of $65.34.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its earnings results on Tuesday, August 9th. The company reported ($0.47) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.05. The firm had revenue of $38.50 million for the quarter, compared to analysts’ expectations of $38.52 million. Ionis Pharmaceuticals had a negative return on equity of 126.88% and a negative net margin of 128.94%. The company’s revenue was down 68.0% compared to the same quarter last year. On average, analysts predict that Ionis Pharmaceuticals Inc. will post ($1.11) earnings per share for the current fiscal year.
A number of research firms recently commented on IONS. Piper Jaffray Cos. restated a “buy” rating and issued a $35.00 price objective on shares of Ionis Pharmaceuticals in a report on Friday, June 10th. Cowen and Company restated a “market perform” rating on shares of Ionis Pharmaceuticals in a report on Saturday, August 13th. BMO Capital Markets increased their price objective on Ionis Pharmaceuticals from $25.00 to $40.00 and gave the stock a “market perform” rating in a report on Monday, August 1st. Morgan Stanley began coverage on Ionis Pharmaceuticals in a report on Tuesday, August 2nd. They issued an “equal weight” rating and a $37.00 price objective on the stock. Finally, Wells Fargo & Co. restated an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Friday, August 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $42.92.
A number of large investors have recently added to or reduced their stakes in IONS. AQR Capital Management LLC boosted its stake in Ionis Pharmaceuticals by 372.6% in the second quarter. AQR Capital Management LLC now owns 1,858,239 shares of the company’s stock valued at $43,278,000 after buying an additional 1,465,004 shares during the last quarter. State Street Corp boosted its stake in Ionis Pharmaceuticals by 39.8% in the second quarter. State Street Corp now owns 4,246,911 shares of the company’s stock valued at $98,915,000 after buying an additional 1,209,523 shares during the last quarter. Fiera Capital Corp purchased a new stake in Ionis Pharmaceuticals during the second quarter valued at approximately $22,326,000. BVF Inc. IL purchased a new stake in Ionis Pharmaceuticals during the second quarter valued at approximately $19,797,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Ionis Pharmaceuticals during the second quarter valued at approximately $19,719,000. Hedge funds and other institutional investors own 89.58% of the company’s stock.
About Ionis Pharmaceuticals
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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