Ionis Pharmaceuticals Executive Vice President Patrick R. O'neil Sells 1,207 Shares

On February 20th, Patrick R. O'neil, the Executive Vice President of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS), sold 1,207 shares of the company’s stock. The shares were sold at an average price of $32.35, amounting to a total transaction value of $39,046.45. Following this sale, O'neil holds 56,245 shares of Ionis Pharmaceuticals, which have an estimated value of $1,819,525.75. This recent transaction reflects a 2.10% decrease in his ownership stake in the company. The details of this transaction were disclosed in a filing with the Securities and Exchange Commission (SEC), which can be accessed through their official webpage.

Ionis Pharmaceuticals Price Performance

During trading on Monday, Ionis Pharmaceuticals shares fell by $0.43, resulting in a current trading price of $31.89. The trading volume for the day reached 1,430,336 shares, which is lower than the company’s average volume of 1,682,475 shares. Ionis has a debt-to-equity ratio of 2.12, along with a quick ratio of 8.82 and a current ratio of 8.47. Over the past year, the stock has experienced a low of $30.23 and a high of $52.34, and currently has a market capitalization of $5.07 billion. It also carries a price-to-earnings (PE) ratio of -10.49 and a beta of 0.34. The moving averages for the stock are currently 50 days at $33.65 and 200 days at $38.24.

Quarterly Earnings Results

Ionis Pharmaceuticals recently released its quarterly earnings results on February 19th. The company reported an earnings per share (EPS) of ($0.66) for the quarter, which was better than analysts' expectations of ($1.12) by a margin of $0.46. Ionis reported a negative return on equity of 100.05% and a negative net margin of 64.25%. The revenue for this quarter was $227.00 million, significantly exceeding analyst estimates of $140.97 million. However, this revenue represents a 30.2% decline compared to the same period last year. Analysts predict that Ionis will post an EPS of -3.5 for the current year.

Price Target Adjustments by Analysts

Equity analysts have recently updated their opinions regarding shares of Ionis Pharmaceuticals. StockNews.com downgraded Ionis from a “hold” to a “sell” rating on November 12th. Piper Sandler reduced their target price for Ionis Pharmaceuticals from $65.00 to $62.00, maintaining an “overweight” rating. Similarly, BMO Capital Markets has lowered their price target from $60.00 to $45.00, also marking it as a “market perform.” Citigroup has adjusted their price target from $67.00 to $64.00, while maintaining a “buy” rating. William Blair reaffirmed an “outperform” rating for Ionis Pharmaceuticals on December 20th. The overall consensus as noted by MarketBeat.com indicates two analysts with a “sell” rating, five with a “hold” rating, thirteen with a “buy” rating, and one giving a “strong buy” rating, resulting in a general rating of “Moderate Buy” with an average price target of $60.00.

Hedge Fund Activity with Ionis Pharmaceuticals

Various institutional investors and hedge funds have been actively managing their stakes in Ionis Pharmaceuticals. GF Fund Management CO. LTD. acquired a new stake in the company worth $116,000 during the fourth quarter. Woodline Partners LP also purchased a new position valued at $3,762,000. Vestal Point Capital LP made a significant investment in Ionis Pharmaceuticals worth approximately $20,801,000 in the same quarter. Two Sigma Advisers LP increased its holding by 1.3% in the fourth quarter and now possesses 1,349,211 shares, valued at $47,168,000 after adding 16,800 shares. Additionally, Two Sigma Investments LP added to its stake by 0.3% and now owns 921,439 shares valued at $32,214,000. Overall, institutional investors and hedge funds currently hold 93.86% of the stock.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc. is engaged in discovering and developing RNA-targeted therapeutics in the United States. The company is notable for offering SPINRAZA, a medication for spinal muscular atrophy (SMA) in both pediatric and adult populations. It also provides TEGSEDI, an antisense injection aimed at treating polyneuropathy due to hereditary transthyretin amyloidosis in adults, and WAYLIVRA, which is intended for treating familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.

Ionis, Pharmaceuticals, Stock