C Frank Bennett Sells 12,500 Shares of Ionis Pharmaceuticals Inc (IONS) Stock

Ionis Pharmaceuticals Inc (NASDAQ:IONS) SVP C Frank Bennett sold 12,500 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $49.54, for a total transaction of $619,250.00. Following the completion of the sale, the senior vice president now directly owns 31,896 shares of the company’s stock, valued at $1,580,127.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

C Frank Bennett also recently made the following trade(s):

  • On Wednesday, August 8th, C Frank Bennett sold 12,500 shares of Ionis Pharmaceuticals stock. The stock was sold at an average price of $45.00, for a total transaction of $562,500.00.

Shares of IONS opened at $51.70 on Friday. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 646.25 and a beta of 2.44. Ionis Pharmaceuticals Inc has a fifty-two week low of $39.07 and a fifty-two week high of $57.92. The company has a current ratio of 8.38, a quick ratio of 8.34 and a debt-to-equity ratio of 0.76.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its quarterly earnings results on Tuesday, August 7th. The company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.20). The company had revenue of $117.75 million during the quarter, compared to analyst estimates of $128.22 million. Ionis Pharmaceuticals had a negative net margin of 7.20% and a negative return on equity of 1.22%. Sell-side analysts forecast that Ionis Pharmaceuticals Inc will post -0.15 earnings per share for the current fiscal year.

Several research firms have commented on IONS. ValuEngine raised shares of Ionis Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley set a $45.00 target price on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a research note on Wednesday, October 3rd. Stifel Nicolaus lifted their target price on shares of Ionis Pharmaceuticals from $45.00 to $48.00 and gave the stock a “hold” rating in a research note on Tuesday, September 25th. Piper Jaffray Companies set a $50.00 target price on shares of Ionis Pharmaceuticals and gave the stock a “hold” rating in a research note on Monday, September 24th. Finally, Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $53.86.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Ionis Pharmaceuticals by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 237,581 shares of the company’s stock valued at $10,473,000 after acquiring an additional 12,770 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 38,277 shares of the company’s stock valued at $1,687,000 after acquiring an additional 1,479 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Ionis Pharmaceuticals by 2.1% during the 1st quarter. Guggenheim Capital LLC now owns 91,282 shares of the company’s stock valued at $4,024,000 after acquiring an additional 1,893 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Ionis Pharmaceuticals by 39.3% during the 1st quarter. Millennium Management LLC now owns 272,837 shares of the company’s stock valued at $12,027,000 after acquiring an additional 76,920 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Ionis Pharmaceuticals by 2.9% during the 1st quarter. Legal & General Group Plc now owns 68,452 shares of the company’s stock valued at $3,017,000 after acquiring an additional 1,925 shares in the last quarter. Institutional investors own 85.59% of the company’s stock.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; and Kynamro an oligonucleotide inhibitor for use in patients with homozygous familial hypercholesterolemia to reduce low density lipoprotein-cholesterol, apolipoprotein B, total cholesterol, and non-high density lipoprotein.

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