Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Major Shareholder Acquires $25,000,000.00 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) major shareholder Ionis Pharmaceuticals Inc purchased 3,125,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were bought at an average cost of $8.00 per share, for a total transaction of $25,000,000.00. Following the acquisition, the insider now owns 28,884,540 shares in the company, valued at $231,076,320. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Ionis Pharmaceuticals, Inc. (IONS) opened at 48.06 on Thursday. The stock’s market cap is $5.96 billion. The firm’s 50-day moving average is $53.14 and its 200 day moving average is $46.85. Ionis Pharmaceuticals, Inc. has a one year low of $24.58 and a one year high of $60.01.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. Ionis Pharmaceuticals had a negative net margin of 4.80% and a negative return on equity of 14.61%. The firm had revenue of $104.15 million during the quarter, compared to analyst estimates of $93.29 million. During the same period in the prior year, the company posted ($0.47) earnings per share. The firm’s revenue for the quarter was up 170.7% compared to the same quarter last year. On average, analysts anticipate that Ionis Pharmaceuticals, Inc. will post $0.05 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its position in Ionis Pharmaceuticals by 62.8% in the second quarter. Parallel Advisors LLC now owns 2,073 shares of the company’s stock valued at $109,000 after buying an additional 800 shares in the last quarter. Hanseatic Management Services Inc. purchased a new position in Ionis Pharmaceuticals during the first quarter valued at approximately $138,000. Westpac Banking Corp purchased a new position in Ionis Pharmaceuticals during the first quarter valued at approximately $171,000. Cambridge Investment Research Advisors Inc. purchased a new position in Ionis Pharmaceuticals during the second quarter valued at approximately $222,000. Finally, Cheyne Capital Management UK LLP bought a new stake in shares of Ionis Pharmaceuticals during the second quarter worth about $249,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on IONS shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $59.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday, April 26th. Piper Jaffray Companies set a $51.00 price target on shares of Ionis Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. Leerink Swann reaffirmed an “outperform” rating and set a $45.00 price target (down previously from $47.00) on shares of Ionis Pharmaceuticals in a report on Wednesday, May 17th. Finally, Cowen and Company reissued a “market perform” rating on shares of Ionis Pharmaceuticals in a report on Monday, May 22nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.05.

Ionis Pharmaceuticals Company Profile

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.

Insider Buying and Selling by Quarter for Ionis Pharmaceuticals (NASDAQ:IONS)

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