Ionis Pharmaceuticals (NASDAQ:IONS) EVP Shannon Devers Sells 44,199 Shares

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Shannon Devers sold 44,199 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $85.08, for a total transaction of $3,760,450.92. Following the transaction, the executive vice president directly owned 17,494 shares in the company, valued at $1,488,389.52. The trade was a 71.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ionis Pharmaceuticals Stock Performance

Shares of IONS opened at $80.30 on Friday. The firm’s 50 day moving average price is $78.16 and its two-hundred day moving average price is $62.19. The firm has a market cap of $13.01 billion, a P/E ratio of -47.51 and a beta of 0.28. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.78 and a current ratio of 2.79. Ionis Pharmaceuticals, Inc. has a twelve month low of $23.95 and a twelve month high of $86.15.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.35. Ionis Pharmaceuticals had a negative net margin of 26.45% and a negative return on equity of 44.26%. The business had revenue of $156.72 million for the quarter, compared to analyst estimates of $131.75 million. During the same quarter in the previous year, the firm posted ($0.95) earnings per share. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.5 EPS for the current fiscal year.

Institutional Trading of Ionis Pharmaceuticals

A number of institutional investors have recently bought and sold shares of IONS. Golden State Wealth Management LLC increased its position in Ionis Pharmaceuticals by 198.4% in the 3rd quarter. Golden State Wealth Management LLC now owns 376 shares of the company’s stock valued at $25,000 after buying an additional 250 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in shares of Ionis Pharmaceuticals in the 3rd quarter worth $25,000. Mather Group LLC. bought a new position in shares of Ionis Pharmaceuticals in the 3rd quarter worth $27,000. Quarry LP acquired a new stake in Ionis Pharmaceuticals in the 3rd quarter valued at $38,000. Finally, Johnson Financial Group Inc. bought a new stake in Ionis Pharmaceuticals during the 3rd quarter valued at $44,000. Institutional investors own 93.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IONS shares. Piper Sandler lifted their target price on shares of Ionis Pharmaceuticals from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Guggenheim lifted their price objective on shares of Ionis Pharmaceuticals from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $89.00 target price (up previously from $85.00) on shares of Ionis Pharmaceuticals in a report on Thursday, October 30th. Finally, Bank of America lifted their price target on Ionis Pharmaceuticals from $86.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.05.

About Ionis Pharmaceuticals

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.