The Insider Selling: Ionis Pharmaceuticals, Inc. (IONS) CEO Sells 15,382 Shares of Stock

The Insider Selling: Ionis Pharmaceuticals, Inc. (IONS) CEO Sells 15,382 Shares of Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Stanley T. Crooke sold 15,382 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $46.29, for a total transaction of $712,032.78. Following the completion of the sale, the chief executive officer now directly owns 30,576 shares of the company’s stock, valued at $1,415,363.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) traded up 1.12% during midday trading on Wednesday, hitting $47.14. 1,525,147 shares of the stock were exchanged. The company has a 50 day moving average price of $48.14 and a 200 day moving average price of $36.50. Ionis Pharmaceuticals, Inc. has a one year low of $19.59 and a one year high of $57.00. The firm’s market capitalization is $5.71 billion.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Wednesday, November 9th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $110.90 million for the quarter, compared to analyst estimates of $114.65 million. Ionis Pharmaceuticals had a negative return on equity of 120.60% and a negative net margin of 77.30%. The company’s quarterly revenue was up 125.9% on a year-over-year basis. Equities analysts anticipate that Ionis Pharmaceuticals, Inc. will post ($1.08) EPS for the current year.

Several large investors have recently made changes to their positions in the company. BlackRock Fund Advisors raised its stake in shares of Ionis Pharmaceuticals by 2.8% in the third quarter. BlackRock Fund Advisors now owns 2,878,111 shares of the company’s stock worth $105,454,000 after buying an additional 77,715 shares in the last quarter. Rothschild Asset Management Inc. raised its stake in shares of Ionis Pharmaceuticals by 8.1% in the third quarter. Rothschild Asset Management Inc. now owns 205,347 shares of the company’s stock worth $7,524,000 after buying an additional 15,353 shares in the last quarter. IronBridge Capital Management LP raised its stake in shares of Ionis Pharmaceuticals by 10.5% in the third quarter. IronBridge Capital Management LP now owns 93,890 shares of the company’s stock worth $3,440,000 after buying an additional 8,915 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Ionis Pharmaceuticals by 5.7% in the third quarter. TIAA CREF Investment Management LLC now owns 383,160 shares of the company’s stock worth $14,039,000 after buying an additional 20,521 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its stake in shares of Ionis Pharmaceuticals by 21.9% in the second quarter. Tocqueville Asset Management L.P. now owns 1,326,120 shares of the company’s stock worth $30,885,000 after buying an additional 238,566 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

IONS has been the subject of a number of research analyst reports. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $46.00 price target on shares of Ionis Pharmaceuticals in a research note on Monday, September 26th. Zacks Investment Research raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Wednesday, November 16th. Vetr lowered shares of Ionis Pharmaceuticals from a “sell” rating to a “strong sell” rating and set a $38.22 price target for the company. in a research note on Tuesday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price target on shares of Ionis Pharmaceuticals in a research note on Sunday, January 8th. Finally, BMO Capital Markets raised shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $42.00 to $48.00 in a research note on Thursday, October 6th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Ionis Pharmaceuticals currently has an average rating of “Hold” and an average price target of $46.09.

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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