Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Chairman Sells $865,425.00 in Stock
Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Chairman Stanley T. Crooke sold 16,500 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $52.45, for a total transaction of $865,425.00. Following the sale, the chairman now owns 53,014 shares in the company, valued at $2,780,584.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Ionis Pharmaceuticals, Inc. (NASDAQ IONS) traded up 1.75% during midday trading on Tuesday, hitting $53.94. 1,440,288 shares of the stock were exchanged. The company has a 50 day moving average price of $48.73 and a 200 day moving average price of $46.13. Ionis Pharmaceuticals, Inc. has a one year low of $24.34 and a one year high of $57.00. The firm’s market capitalization is $6.69 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Tuesday, May 9th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.13. The business had revenue of $110.30 million for the quarter, compared to the consensus estimate of $86.03 million. Ionis Pharmaceuticals had a negative net margin of 4.80% and a negative return on equity of 14.61%. Ionis Pharmaceuticals’s revenue for the quarter was up 199.2% on a year-over-year basis. During the same period last year, the company posted ($0.52) EPS. Equities analysts anticipate that Ionis Pharmaceuticals, Inc. will post ($0.37) EPS for the current year.
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A number of research firms have commented on IONS. Cowen and Company restated a “market perform” rating on shares of Ionis Pharmaceuticals in a research report on Monday, May 22nd. BMO Capital Markets boosted their price target on shares of Ionis Pharmaceuticals from $32.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, May 11th. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Wednesday, July 12th. Vetr downgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating and set a $37.67 price target on the stock. in a research report on Monday, April 3rd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $42.00 target price on shares of Ionis Pharmaceuticals in a report on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $44.55.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Ionis Pharmaceuticals by 37,569.7% in the first quarter. BlackRock Inc. now owns 6,559,808 shares of the company’s stock worth $263,704,000 after buying an additional 6,542,394 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Ionis Pharmaceuticals by 56.1% in the first quarter. Wellington Management Group LLP now owns 9,360,553 shares of the company’s stock valued at $376,295,000 after buying an additional 3,364,621 shares during the period. Norges Bank bought a new stake in shares of Ionis Pharmaceuticals during the fourth quarter valued at approximately $50,976,000. State Street Corp increased its stake in shares of Ionis Pharmaceuticals by 20.5% in the first quarter. State Street Corp now owns 3,340,471 shares of the company’s stock valued at $134,285,000 after buying an additional 567,792 shares during the period. Finally, BB Biotech AG increased its stake in shares of Ionis Pharmaceuticals by 7.9% in the first quarter. BB Biotech AG now owns 7,461,295 shares of the company’s stock valued at $299,944,000 after buying an additional 548,123 shares during the period. Institutional investors and hedge funds own 88.72% of the company’s stock.
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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