Ionis Pharmaceuticals Inc (NASDAQ:IONS) Director Sells $582,000.00 in Stock

Ionis Pharmaceuticals Inc (NASDAQ:IONS) Director Frederick T. Muto sold 8,000 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $72.75, for a total transaction of $582,000.00. Following the completion of the sale, the director now owns 17,794 shares in the company, valued at approximately $1,294,513.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Ionis Pharmaceuticals stock traded up $0.88 during trading hours on Friday, reaching $65.60. The stock had a trading volume of 1,193,440 shares, compared to its average volume of 1,252,052. The firm has a market cap of $9.21 billion, a PE ratio of 22.16 and a beta of 2.31. The company has a quick ratio of 9.36, a current ratio of 9.40 and a debt-to-equity ratio of 0.47. Ionis Pharmaceuticals Inc has a 52 week low of $40.91 and a 52 week high of $86.58.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Thursday, May 9th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.19. Ionis Pharmaceuticals had a net margin of 47.74% and a return on equity of 44.03%. The firm had revenue of $297.00 million for the quarter, compared to analyst estimates of $285.43 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. The company’s revenue for the quarter was up 106.3% compared to the same quarter last year. As a group, sell-side analysts expect that Ionis Pharmaceuticals Inc will post -0.21 earnings per share for the current fiscal year.

Several research analysts recently commented on IONS shares. Zacks Investment Research downgraded shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, April 5th. JPMorgan Chase & Co. increased their target price on shares of Ionis Pharmaceuticals from $47.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. ValuEngine upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, March 15th. Morgan Stanley set a $71.00 target price on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a research note on Friday, March 1st. Finally, Cantor Fitzgerald restated a “hold” rating and set a $68.00 price objective on shares of Ionis Pharmaceuticals in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $66.44.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its position in Ionis Pharmaceuticals by 12.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,485 shares of the company’s stock valued at $121,000 after buying an additional 160 shares during the period. Carroll Financial Associates Inc. grew its position in Ionis Pharmaceuticals by 27.4% during the first quarter. Carroll Financial Associates Inc. now owns 762 shares of the company’s stock valued at $61,000 after buying an additional 164 shares during the period. Blair William & Co. IL grew its position in Ionis Pharmaceuticals by 1.2% during the first quarter. Blair William & Co. IL now owns 14,669 shares of the company’s stock valued at $1,191,000 after buying an additional 179 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Ionis Pharmaceuticals by 9.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,268 shares of the company’s stock worth $184,000 after purchasing an additional 188 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in shares of Ionis Pharmaceuticals by 29.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 890 shares of the company’s stock worth $48,000 after purchasing an additional 200 shares during the period. 82.72% of the stock is owned by institutional investors.

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About Ionis Pharmaceuticals

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; and TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.

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