Ionis Pharmaceuticals Inc. (NASDAQ:IONS) Chairman Stanley T. Crooke sold 11,000 shares of Ionis Pharmaceuticals stock in a transaction that occurred 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 owns 35,029 shares in the company, valued at $1,282,411.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) opened at 34.26 on Friday. Ionis Pharmaceuticals Inc. has a 1-year low of $19.59 and a 1-year high of $65.34. The company has a 50-day moving average price of $32.65 and a 200 day moving average price of $32.31. The firm’s market capitalization is $4.14 billion.
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, beating analysts’ consensus estimates of ($0.52) by $0.05. The firm earned $38.50 million during the quarter, compared to analyst estimates of $38.52 million. Ionis Pharmaceuticals had a negative return on equity of 126.88% and a negative net margin of 128.94%. The firm’s revenue was down 68.0% on a year-over-year basis. Equities analysts anticipate that Ionis Pharmaceuticals Inc. will post ($1.11) earnings per share for the current year.
Several equities analysts recently issued reports on IONS shares. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $46.00 price objective on shares of Ionis Pharmaceuticals in a report on Monday, September 26th. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Friday, August 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, July 14th. BMO Capital Markets raised Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $42.00 to $48.00 in a report on Thursday. Finally, Jefferies Group reaffirmed an “underperform” rating and set a $12.00 price objective on shares of Ionis Pharmaceuticals in a report on Friday, July 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Ionis Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $42.92.
A number of institutional investors have recently modified their holdings of IONS. AQR Capital Management LLC raised its position in shares of Ionis Pharmaceuticals by 372.6% in the second quarter. AQR Capital Management LLC now owns 1,858,239 shares of the company’s stock worth $43,278,000 after buying an additional 1,465,004 shares during the last quarter. State Street Corp raised its position in shares of Ionis Pharmaceuticals by 39.8% in the second quarter. State Street Corp now owns 4,246,911 shares of the company’s stock worth $98,915,000 after buying an additional 1,209,523 shares during the last quarter. Fiera Capital Corp purchased a new position in shares of Ionis Pharmaceuticals during the second quarter worth about $22,326,000. BVF Inc. IL purchased a new position in shares of Ionis Pharmaceuticals during the second quarter worth about $19,797,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Ionis Pharmaceuticals during the second quarter worth about $19,719,000. 89.58% of the stock is owned by hedge funds and other institutional investors.
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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