Ionis Pharmaceuticals (NASDAQ:IONS) EVP Sells $2,827,460.45 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Kyle Jenne sold 37,277 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $75.85, for a total value of $2,827,460.45. Following the transaction, the executive vice president owned 11,714 shares of the company’s stock, valued at $888,506.90. This trade represents a 76.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Kyle Jenne also recently made the following trade(s):

• On Friday, January 16th, Kyle Jenne sold 1,823 shares of Ionis Pharmaceuticals stock. The shares were sold at an average price of $75.96, for a total value of $138,475.08.

Ionis Pharmaceuticals Price Performance

Ionis Pharmaceuticals stock traded down $0.87 during mid-day trading on Wednesday, hitting $74.79. 1,839,227 shares of the company were exchanged, compared to its average volume of 2,315,510. The company has a market capitalization of $12.35 billion, a PE ratio of -30.65 and a beta of 0.31. The business has a fifty day moving average of $80.90 and a 200 day moving average of $74.01. Ionis Pharmaceuticals, Inc. has a 1-year low of $23.95 and a 1-year high of $86.74. The company has a quick ratio of 3.81, a current ratio of 3.83 and a debt-to-equity ratio of 2.76.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its earnings results on Wednesday, February 25th. The company reported ($1.41) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.18). The firm had revenue of $203.33 million during the quarter, compared to analyst estimates of $156.07 million. Ionis Pharmaceuticals had a negative net margin of 40.36% and a negative return on equity of 68.82%. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.66) EPS. As a group, sell-side analysts expect that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current year.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Large investors have recently made changes to their positions in the company. Steigerwald Gordon & Koch Inc. bought a new position in shares of Ionis Pharmaceuticals in the 3rd quarter valued at about $25,000. Golden State Wealth Management LLC grew its position in shares of Ionis Pharmaceuticals by 198.4% during the 3rd quarter. Golden State Wealth Management LLC now owns 376 shares of the company’s stock worth $25,000 after buying an additional 250 shares during the period. Mather Group LLC. bought a new stake in shares of Ionis Pharmaceuticals during the third quarter worth approximately $27,000. Brown Brothers Harriman & Co. bought a new stake in shares of Ionis Pharmaceuticals during the 4th quarter valued at $27,000. Finally, Allworth Financial LP increased its holdings in Ionis Pharmaceuticals by 231.8% in the second quarter. Allworth Financial LP now owns 740 shares of the company’s stock valued at $29,000 after purchasing an additional 517 shares during the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Morgan Stanley set a $95.00 price objective on shares of Ionis Pharmaceuticals and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Needham & Company LLC increased their price target on Ionis Pharmaceuticals from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Wednesday, February 25th. Wall Street Zen lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Leerink Partners raised their target price on Ionis Pharmaceuticals from $102.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.00.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.