Ionis Pharmaceuticals (NASDAQ:IONS) Shares Gap Down Following Insider Selling

Ionis Pharmaceuticals, Inc. (NASDAQ:IONSGet Rating) gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $39.80, but opened at $38.65. Ionis Pharmaceuticals shares last traded at $40.06, with a volume of 1,214 shares traded.

Specifically, CEO Brett P. Monia sold 25,066 shares of the stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $39.49, for a total transaction of $989,856.34. Following the completion of the transaction, the chief executive officer now directly owns 120,863 shares in the company, valued at $4,772,879.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ionis Pharmaceuticals news, CEO Brett P. Monia sold 25,066 shares of the stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $39.49, for a total transaction of $989,856.34. Following the completion of the transaction, the chief executive officer now directly owns 120,863 shares in the company, valued at $4,772,879.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elizabeth L. Hougen sold 8,280 shares of the stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $39.70, for a total value of $328,716.00. Following the transaction, the chief financial officer now owns 73,435 shares of the company’s stock, valued at $2,915,369.50. The disclosure for this sale can be found here. Insiders sold a total of 40,977 shares of company stock valued at $1,622,348 over the last ninety days. 2.36% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on IONS shares. SVB Leerink lowered their target price on Ionis Pharmaceuticals from $30.00 to $26.00 and set a “market perform” rating for the company in a research note on Thursday, November 10th. StockNews.com started coverage on Ionis Pharmaceuticals in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Citigroup raised their target price on Ionis Pharmaceuticals from $28.00 to $31.00 and gave the company a “sell” rating in a research note on Thursday, November 10th. Morgan Stanley lowered Ionis Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $56.00 to $40.00 in a research note on Wednesday, December 21st. Finally, Barclays raised their target price on Ionis Pharmaceuticals to $44.00 in a research note on Tuesday, November 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $43.22.

Ionis Pharmaceuticals Stock Performance

The stock has a 50-day moving average of $39.58 and a 200 day moving average of $41.78. The company has a debt-to-equity ratio of 2.10, a current ratio of 7.59 and a quick ratio of 7.52. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of -338.14 and a beta of 0.54.

Ionis Pharmaceuticals (NASDAQ:IONSGet Rating) last issued its earnings results on Wednesday, November 9th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.41. Ionis Pharmaceuticals had a return on equity of 1.18% and a net margin of 0.91%. The firm had revenue of $160.00 million for the quarter, compared to analysts’ expectations of $149.48 million. On average, analysts expect that Ionis Pharmaceuticals, Inc. will post -2.49 EPS for the current year.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in Ionis Pharmaceuticals by 4.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 15,056,046 shares of the company’s stock worth $557,375,000 after buying an additional 705,586 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Ionis Pharmaceuticals by 5.0% during the third quarter. Vanguard Group Inc. now owns 12,806,023 shares of the company’s stock worth $566,411,000 after buying an additional 605,747 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Ionis Pharmaceuticals by 10.1% during the first quarter. Clearbridge Investments LLC now owns 6,476,033 shares of the company’s stock worth $239,872,000 after buying an additional 593,051 shares during the last quarter. BVF Inc. IL boosted its holdings in Ionis Pharmaceuticals by 125.1% during the third quarter. BVF Inc. IL now owns 2,872,953 shares of the company’s stock worth $127,071,000 after buying an additional 1,596,379 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in Ionis Pharmaceuticals by 30.1% during the third quarter. First Trust Advisors LP now owns 2,077,260 shares of the company’s stock worth $91,877,000 after buying an additional 481,205 shares during the last quarter. Institutional investors own 87.32% of the company’s stock.

Ionis Pharmaceuticals Company Profile

(Get Rating)

Ionis Pharmaceuticals, Inc engages in the development and commercialization of human therapeutic drugs using antisense technology. It operates through the Ionis Core and Akcea Therapeutics segments. The Ionis Core segment exploits a novel drug discovery platform to generate a pipeline of drugs. The Akcea Therapeutics segment develops and commercializes drugs for cardiometabolic diseases.

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