Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CFO Elizabeth L. Hougen Sells 1,523 Shares

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CFO Elizabeth L. Hougen sold 1,523 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $32.44, for a total transaction of $49,406.12. Following the sale, the chief financial officer now owns 110,500 shares in the company, valued at $3,584,620. This represents a 1.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Ionis Pharmaceuticals Price Performance

Shares of IONS opened at $32.13 on Tuesday. The business has a 50-day moving average of $35.07 and a 200-day moving average of $40.00. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of -13.17 and a beta of 0.35. Ionis Pharmaceuticals, Inc. has a 1 year low of $31.03 and a 1 year high of $52.34.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Ionis Pharmaceuticals by 83.9% during the third quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock worth $27,000 after buying an additional 303 shares during the period. Capital Performance Advisors LLP bought a new stake in Ionis Pharmaceuticals during the third quarter valued at $40,000. Prospera Private Wealth LLC acquired a new stake in Ionis Pharmaceuticals during the 3rd quarter worth about $42,000. Itau Unibanco Holding S.A. raised its position in shares of Ionis Pharmaceuticals by 40.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,081 shares of the company’s stock worth $43,000 after acquiring an additional 314 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Ionis Pharmaceuticals in the 3rd quarter valued at about $51,000. Institutional investors own 93.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IONS shares. Piper Sandler reduced their target price on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company decreased their target price on Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price target on shares of Ionis Pharmaceuticals in a research note on Wednesday, January 15th. Finally, William Blair reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.