Richard Geary Sells 1,680 Shares of Ionis Pharmaceuticals (NASDAQ:IONS) Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Richard Geary sold 1,680 shares of Ionis Pharmaceuticals stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $75.05, for a total transaction of $126,084.00. Following the completion of the sale, the executive vice president owned 59,657 shares of the company’s stock, valued at $4,477,257.85. This trade represents a 2.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ionis Pharmaceuticals Stock Performance

Ionis Pharmaceuticals stock traded down $0.65 during midday trading on Monday, hitting $73.65. The company’s stock had a trading volume of 2,576,023 shares, compared to its average volume of 1,967,082. Ionis Pharmaceuticals, Inc. has a 1-year low of $23.95 and a 1-year high of $75.49. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.87 and a quick ratio of 2.86. The company has a 50-day moving average price of $64.61 and a two-hundred day moving average price of $47.10. The company has a market cap of $11.93 billion, a price-to-earnings ratio of -43.58 and a beta of 0.33.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Wednesday, October 29th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($1.15) by $0.35. Ionis Pharmaceuticals had a negative net margin of 26.45% and a negative return on equity of 45.29%. The business had revenue of $157.00 million during the quarter, compared to analysts’ expectations of $131.75 million. During the same quarter in the previous year, the company earned ($0.95) EPS. The business’s revenue was up 17.2% on a year-over-year basis. Ionis Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current year.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in IONS. Adage Capital Partners GP L.L.C. increased its position in Ionis Pharmaceuticals by 253.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,800,000 shares of the company’s stock worth $150,138,000 after purchasing an additional 2,724,400 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Ionis Pharmaceuticals by 14.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,175,533 shares of the company’s stock worth $488,016,000 after acquiring an additional 2,006,334 shares during the last quarter. BVF Inc. IL bought a new stake in Ionis Pharmaceuticals during the 1st quarter worth approximately $57,727,000. Vestal Point Capital LP bought a new stake in Ionis Pharmaceuticals during the 2nd quarter worth approximately $19,755,000. Finally, Norges Bank bought a new stake in shares of Ionis Pharmaceuticals in the second quarter worth $17,790,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IONS has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Ionis Pharmaceuticals from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Cowen set a $99.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday. Wall Street Zen downgraded shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday. BMO Capital Markets upgraded shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $40.00 to $70.00 in a research report on Wednesday, September 3rd. Finally, Royal Bank Of Canada boosted their price objective on shares of Ionis Pharmaceuticals from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.05.

About Ionis Pharmaceuticals

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.