Stanley T. Crooke Sells 22,000 Shares of Ionis Pharmaceuticals Inc. (IONS) Stock
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) Chairman Stanley T. Crooke sold 22,000 shares of the stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $36.02, for a total transaction of $792,440.00. Following the completion of the sale, the chairman now directly owns 45,029 shares in the company, valued at $1,621,944.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Ionis Pharmaceuticals Inc. (NASDAQ:IONS) opened at 36.03 on Tuesday. The firm’s 50-day moving average is $32.58 and its 200-day moving average is $32.33. Ionis Pharmaceuticals Inc. has a 12 month low of $19.59 and a 12 month high of $65.34. The company’s market capitalization is $4.36 billion.
Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.05. The business earned $38.50 million during the quarter, compared to the consensus estimate of $38.52 million. Ionis Pharmaceuticals had a negative return on equity of 126.88% and a negative net margin of 128.94%. Ionis Pharmaceuticals’s quarterly revenue was down 68.0% on a year-over-year basis. Equities analysts anticipate that Ionis Pharmaceuticals Inc. will post ($1.11) EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on the stock. Leerink Swann reissued a “market perform” rating and issued a $26.00 price target (down from $39.00) on shares of Ionis Pharmaceuticals in a report on Monday, July 18th. Morgan Stanley assumed coverage on shares of Ionis Pharmaceuticals in a report on Tuesday, August 2nd. They issued an “equal weight” rating and a $37.00 price target on the stock. Cowen and Company reissued a “market perform” rating on shares of Ionis Pharmaceuticals in a report on Saturday, August 13th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $35.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, July 15th. Finally, Needham & Company LLC increased their price target on shares of Ionis Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $42.25.
Several large investors have recently added to or reduced their stakes in the stock. Parametric Risk Advisors LLC purchased a new stake in Ionis Pharmaceuticals during the first quarter worth about $106,000. Rockefeller Financial Services Inc. purchased a new stake in Ionis Pharmaceuticals during the second quarter worth about $114,000. Opera Trading Capital increased its stake in Ionis Pharmaceuticals by 150.0% in the first quarter. Opera Trading Capital now owns 2,892 shares of the company’s stock worth $117,000 after buying an additional 1,735 shares in the last quarter. US Bancorp DE increased its stake in Ionis Pharmaceuticals by 37.8% in the second quarter. US Bancorp DE now owns 5,952 shares of the company’s stock worth $139,000 after buying an additional 1,634 shares in the last quarter. Finally, GAM Holding AG increased its stake in Ionis Pharmaceuticals by 118.5% in the second quarter. GAM Holding AG now owns 7,727 shares of the company’s stock worth $180,000 after buying an additional 4,191 shares in the last quarter. Institutional investors and hedge funds own 89.58% of the company’s stock.
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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