Joseph Klein III Sells 6,000 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Director Joseph Klein III sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $42.71, for a total value of $256,260.00. Following the sale, the director now directly owns 16,346 shares in the company, valued at $698,137.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ionis Pharmaceuticals Stock Down 1.7 %

Shares of NASDAQ IONS opened at $39.47 on Friday. The company has a debt-to-equity ratio of 3.18, a quick ratio of 5.83 and a current ratio of 5.90. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of -15.42 and a beta of 0.41. The stock has a 50 day moving average price of $42.62 and a 200 day moving average price of $46.82. Ionis Pharmaceuticals, Inc. has a 52-week low of $34.99 and a 52-week high of $54.44.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.12. The firm had revenue of $119.00 million during the quarter, compared to analyst estimates of $131.42 million. Ionis Pharmaceuticals had a negative return on equity of 90.29% and a negative net margin of 46.32%. Ionis Pharmaceuticals’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.87) earnings per share. Sell-side analysts expect that Ionis Pharmaceuticals, Inc. will post -3.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IONS has been the topic of several analyst reports. Piper Sandler boosted their price objective on Ionis Pharmaceuticals from $62.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. StockNews.com upgraded Ionis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Wolfe Research upgraded Ionis Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research report on Wednesday, April 10th. Wells Fargo & Company dropped their target price on Ionis Pharmaceuticals from $85.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on Ionis Pharmaceuticals from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.54.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Large investors have recently bought and sold shares of the business. Pingora Partners LLC bought a new position in Ionis Pharmaceuticals in the fourth quarter worth approximately $25,000. GAMMA Investing LLC bought a new position in Ionis Pharmaceuticals in the fourth quarter worth approximately $26,000. Mather Group LLC. bought a new position in Ionis Pharmaceuticals in the first quarter worth approximately $29,000. Tennessee Valley Asset Management Partners bought a new position in Ionis Pharmaceuticals in the fourth quarter worth approximately $34,000. Finally, Peoples Bank KS acquired a new position in shares of Ionis Pharmaceuticals during the third quarter worth $39,000. Institutional investors own 93.86% of the company’s stock.

Ionis Pharmaceuticals Company Profile

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.