Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)’s share price gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $59.90, but opened at $57.76. Ionis Pharmaceuticals shares last traded at $54.30, with a volume of 1075250 shares trading hands.
Specifically, SVP Patrick R. O’neil sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $58.35, for a total transaction of $58,350.00. Following the completion of the sale, the senior vice president now owns 11,433 shares in the company, valued at $667,115.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Stanley T. Crooke sold 27,500 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $52.89, for a total transaction of $1,454,475.00. The disclosure for this sale can be found here. Insiders have sold 98,636 shares of company stock valued at $5,723,915 in the last 90 days. 2.13% of the stock is currently owned by corporate insiders.
A number of equities analysts have weighed in on IONS shares. Zacks Investment Research upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $62.00 target price for the company in a research report on Friday, October 27th. Needham & Company LLC reiterated a “buy” rating and set a $64.00 target price on shares of Ionis Pharmaceuticals in a research report on Tuesday, October 17th. Stifel Nicolaus reiterated a “hold” rating and set a $50.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, October 13th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $30.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, October 6th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $69.00 target price on shares of Ionis Pharmaceuticals in a research report on Monday, October 2nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Ionis Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $49.64.
The stock has a market cap of $6.74 billion, a P/E ratio of 246.76 and a beta of 2.89. The company has a debt-to-equity ratio of 2.47, a current ratio of 5.03 and a quick ratio of 5.00.
Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business had revenue of $104.15 million for the quarter, compared to analysts’ expectations of $93.29 million. Ionis Pharmaceuticals had a return on equity of 15.52% and a net margin of 5.25%. The company’s revenue was up 170.7% compared to the same quarter last year. During the same period last year, the business posted ($0.47) earnings per share. analysts expect that Ionis Pharmaceuticals, Inc. will post -0.13 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC raised its stake in shares of Ionis Pharmaceuticals by 62.8% during the second quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock worth $109,000 after acquiring an additional 800 shares in the last quarter. Hanseatic Management Services Inc. raised its stake in shares of Ionis Pharmaceuticals by 1.2% during the second quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock worth $177,000 after acquiring an additional 41 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Ionis Pharmaceuticals by 9.1% during the second quarter. The Manufacturers Life Insurance Company now owns 3,744 shares of the company’s stock worth $190,000 after acquiring an additional 311 shares in the last quarter. WFG Advisors LP raised its stake in shares of Ionis Pharmaceuticals by 77.2% during the second quarter. WFG Advisors LP now owns 3,800 shares of the company’s stock worth $193,000 after acquiring an additional 1,655 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Ionis Pharmaceuticals during the second quarter worth approximately $222,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY WARNING: This article was reported by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another publication, it was stolen and republished in violation of US and international copyright legislation. The legal version of this article can be viewed at https://www.com-unik.info/2017/11/04/ionis-pharmaceuticals-inc-ions-shares-gap-down-following-insider-selling.html.
About Ionis Pharmaceuticals
Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.
What are top analysts saying about Ionis Pharmaceuticals Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Ionis Pharmaceuticals Inc. and related companies.