Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Sells $252,271.50 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett P. Monia sold 6,630 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.05, for a total transaction of $252,271.50. Following the completion of the transaction, the chief executive officer now directly owns 167,393 shares of the company’s stock, valued at approximately $6,369,303.65. This trade represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Ionis Pharmaceuticals Stock Down 7.8 %

Ionis Pharmaceuticals stock opened at $34.34 on Friday. The firm has a market cap of $5.42 billion, a PE ratio of -14.07 and a beta of 0.39. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91. The firm’s 50 day moving average price is $39.62 and its two-hundred day moving average price is $42.75. Ionis Pharmaceuticals, Inc. has a twelve month low of $34.24 and a twelve month high of $54.44.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Great Point Partners LLC acquired a new position in Ionis Pharmaceuticals in the 2nd quarter valued at $15,728,000. International Assets Investment Management LLC grew its stake in Ionis Pharmaceuticals by 3,287.0% in the 3rd quarter. International Assets Investment Management LLC now owns 328,772 shares of the company’s stock valued at $13,171,000 after buying an additional 319,065 shares during the last quarter. Logos Global Management LP acquired a new position in Ionis Pharmaceuticals in the 2nd quarter valued at $14,298,000. Zimmer Partners LP acquired a new position in Ionis Pharmaceuticals in the 1st quarter valued at $11,718,000. Finally, Baker BROS. Advisors LP acquired a new position in Ionis Pharmaceuticals in the 3rd quarter valued at $8,952,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. Wells Fargo & Company dropped their target price on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Guggenheim lowered their price target on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Piper Sandler lowered their price target on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Barclays raised their target price on shares of Ionis Pharmaceuticals from $45.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.65.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.