Ionis Pharmaceuticals, Inc. has experienced significant activity in its stock as Director Joseph Wender sold 28,000 shares on December 1, 2023. The shares were sold at an average price of $80.82, resulting in a total transaction value of $2,262,960. Following this sale, Wender holds 36,035 shares in the company, which are currently valued at approximately $2,912,348.70. This sale marks a notable 43.73% decrease in his ownership stake.
The transaction was officially disclosed in a document filed with the Securities and Exchange Commission (SEC), which can be accessed through the SEC’s website. This type of disclosure is standard procedure for corporate insiders to maintain transparency regarding share ownership and trading activity.
Ionis Pharmaceuticals Stock Performance
On Thursday, December 1, 2023, Ionis Pharmaceuticals’ stock opened at $81.84. Over the past year, the stock has fluctuated significantly, recording a low of $23.95 and a high of $83.09. The 50-day moving average price stands at $72.86, while the 200-day moving average is $53.89. With a market capitalization of $13.26 billion, the company has a price-to-earnings (PE) ratio of -48.43 and a beta of 0.30.
The financial health of Ionis Pharmaceuticals shows a current ratio of 2.79 and a quick ratio of 2.78, alongside a debt-to-equity ratio of 0.96. This indicates a solid liquidity position for the company, which is essential for potential investors.
Recent Earnings and Analyst Ratings
On October 29, 2023, Ionis Pharmaceuticals reported its quarterly earnings, revealing an earnings per share (EPS) of ($0.80), surpassing analysts’ expectations of ($1.15) by $0.35. The company recorded revenues of $156.72 million for the quarter, exceeding forecasts of $131.75 million. This represents a year-over-year revenue increase of 17.2%. The previous year’s EPS stood at ($0.95), highlighting the company’s growth trajectory.
Analysts have varied opinions on Ionis Pharmaceuticals. Weiss Ratings has assigned a “sell (d-)” rating, while Cowen maintains a “buy” rating. Notably, JPMorgan Chase & Co. upgraded its rating from “neutral” to “overweight,” raising the price target from $49.00 to $80.00. Similarly, Royal Bank of Canada has adjusted its price objective from $80.00 to $82.00, giving it an “outperform” rating. Meanwhile, HC Wainwright has set a target price of $110.00 on the stock.
Overall, consensus estimates suggest a moderate buy rating, with a target price averaging $84.15. Analysts predict an EPS of ($3.50) for the current year.
Ionis Pharmaceuticals specializes in developing RNA-targeted therapeutics in the United States. The company is known for its treatments such as SPINRAZA, designed for spinal muscular atrophy, TEGSEDI for hereditary transthyretin amyloidosis, and WAYLIVRA for familial chylomicronemia syndrome.
As the market continues to react to recent financial disclosures and analyst ratings, Ionis Pharmaceuticals remains a company to watch within the biotechnology sector.
