Ionis Pharmaceuticals (NASDAQ:IONS) Reaches New 1-Year Low on Insider Selling

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)’s stock price reached a new 52-week low on Monday following insider selling activity. The company traded as low as $31.32 and last traded at $31.48, with a volume of 8464 shares. The stock had previously closed at $31.90.

Specifically, CFO Elizabeth L. Hougen sold 1,523 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $32.44, for a total transaction of $49,406.12. Following the completion of the sale, the chief financial officer now owns 110,500 shares of the company’s stock, valued at $3,584,620. This represents a 1.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett P. Monia sold 13,242 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $32.45, for a total transaction of $429,702.90. Following the completion of the transaction, the chief executive officer now directly owns 219,526 shares in the company, valued at $7,123,618.70. This represents a 5.69 % decrease in their position. The disclosure for this sale can be found here. In other news, EVP Eric Swayze sold 1,367 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $32.31, for a total transaction of $44,167.77. Following the completion of the transaction, the executive vice president now directly owns 48,017 shares of the company’s stock, valued at approximately $1,551,429.27. This represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IONS shares. Wells Fargo & Company reduced their price objective on Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective on shares of Ionis Pharmaceuticals in a research report on Wednesday, January 15th. StockNews.com cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Finally, Guggenheim cut their price target on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.65.

Ionis Pharmaceuticals Stock Down 1.5 %

The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86. The firm’s 50 day moving average is $35.00 and its 200 day moving average is $39.88.

Institutional Investors Weigh In On Ionis Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in shares of Ionis Pharmaceuticals by 3,287.0% during the third quarter. International Assets Investment Management LLC now owns 328,772 shares of the company’s stock worth $13,171,000 after purchasing an additional 319,065 shares during the period. Baker BROS. Advisors LP acquired a new stake in Ionis Pharmaceuticals during the 3rd quarter worth about $8,952,000. Geode Capital Management LLC lifted its stake in Ionis Pharmaceuticals by 7.4% during the third quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock valued at $106,922,000 after buying an additional 183,814 shares in the last quarter. Sovran Advisors LLC acquired a new position in shares of Ionis Pharmaceuticals in the fourth quarter worth about $5,617,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Ionis Pharmaceuticals by 967.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 141,917 shares of the company’s stock worth $4,961,000 after acquiring an additional 128,619 shares in the last quarter. 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.