Ionis Pharmaceuticals (NASDAQ:IONS) CEO Brett Monia Sells 50,000 Shares of Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett Monia sold 50,000 shares of Ionis Pharmaceuticals stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.59, for a total transaction of $4,029,500.00. Following the transaction, the chief executive officer directly owned 245,571 shares in the company, valued at $19,790,566.89. This trade represents a 16.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ionis Pharmaceuticals Stock Performance

Ionis Pharmaceuticals stock opened at $81.18 on Friday. The firm has a 50 day simple moving average of $75.03 and a 200-day simple moving average of $77.36. The stock has a market cap of $13.42 billion, a price-to-earnings ratio of -39.22 and a beta of 0.37. The company has a debt-to-equity ratio of 2.75, a current ratio of 4.10 and a quick ratio of 4.09. Ionis Pharmaceuticals, Inc. has a 1-year low of $39.37 and a 1-year high of $86.74.

Ionis Pharmaceuticals (NASDAQ:IONS) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.29. Ionis Pharmaceuticals had a negative net margin of 30.91% and a negative return on equity of 58.65%. The firm had revenue of $246.09 million for the quarter, compared to analyst estimates of $195.56 million. During the same quarter in the previous year, the company earned ($0.93) EPS. The business’s revenue for the quarter was up 86.4% compared to the same quarter last year. On average, analysts expect that Ionis Pharmaceuticals, Inc. will post -3.64 EPS for the current year.

Institutional Trading of Ionis Pharmaceuticals

Large investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. purchased a new position in Ionis Pharmaceuticals in the fourth quarter valued at $27,000. Cassaday & Co Wealth Management LLC purchased a new stake in Ionis Pharmaceuticals during the 1st quarter worth about $30,000. Quarry LP acquired a new stake in Ionis Pharmaceuticals in the 3rd quarter valued at about $38,000. Hilton Head Capital Partners LLC purchased a new position in shares of Ionis Pharmaceuticals in the 4th quarter valued at about $47,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Ionis Pharmaceuticals during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on IONS shares. Needham & Company LLC increased their target price on shares of Ionis Pharmaceuticals from $103.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th. Leerink Partners upped their price objective on shares of Ionis Pharmaceuticals from $122.00 to $129.00 and gave the stock an “outperform” rating in a report on Thursday. Citigroup began coverage on shares of Ionis Pharmaceuticals in a research report on Monday, May 18th. They set a “buy” rating and a $115.00 price objective for the company. Canaccord Genuity Group started coverage on shares of Ionis Pharmaceuticals in a report on Monday, April 20th. They issued a “buy” rating and a $110.00 target price for the company. Finally, Wall Street Zen raised Ionis Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.90.

Key Headlines Impacting Ionis Pharmaceuticals

Here are the key news stories impacting Ionis Pharmaceuticals this week:

• Positive Sentiment: Ionis received FDA approval expanding TRYNGOLZA to treat severe hypertriglyceridemia, strengthening the drug’s commercial opportunity and making it the first approved therapy for the condition. Article Title
• Positive Sentiment: Ionis announced a licensing deal with Recordati for ex-U.S. rights to zilganersen in Alexander disease, which provides upfront and royalty potential while allowing Ionis to keep U.S. commercialization rights. Article Title
• Positive Sentiment: Leerink Partners raised its price target on Ionis, signaling continued analyst confidence in the company’s pipeline and commercial execution. Article Title
• Neutral Sentiment: HC Wainwright kept a Buy rating but lowered some 2027 EPS estimates, which is a mild headwind but not a major shift in the firm’s overall view. Article Title

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.