Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Sells $1,091,310.35 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett P. Monia sold 33,445 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $32.63, for a total transaction of $1,091,310.35. Following the sale, the chief executive officer now directly owns 207,396 shares in the company, valued at $6,767,331.48. This trade represents a 13.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Ionis Pharmaceuticals Price Performance

IONS traded down $0.85 during midday trading on Friday, hitting $31.43. 1,371,506 shares of the company traded hands, compared to its average volume of 1,525,691. The business has a 50 day simple moving average of $35.63 and a two-hundred day simple moving average of $41.17. Ionis Pharmaceuticals, Inc. has a 52-week low of $31.40 and a 52-week high of $52.49. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of -12.88 and a beta of 0.35. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86.

Analysts Set New Price Targets

Several research firms have weighed in on IONS. Guggenheim dropped their price target on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Wells Fargo & Company reduced 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. StockNews.com downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Finally, William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.65.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Ionis Pharmaceuticals by 83.9% during the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock worth $27,000 after buying an additional 303 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Ionis Pharmaceuticals in the second quarter valued at approximately $37,000. Capital Performance Advisors LLP acquired a new stake in shares of Ionis Pharmaceuticals in the third quarter worth approximately $40,000. Prospera Private Wealth LLC purchased a new stake in shares of Ionis Pharmaceuticals during the third quarter worth approximately $42,000. Finally, Quantbot Technologies LP acquired a new position in Ionis Pharmaceuticals in the 3rd quarter valued at $51,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

Ionis Pharmaceuticals Company Profile

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.