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 business’s stock in a transaction dated Tuesday, November 12th. The stock was 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 owns 167,393 shares of the company’s stock, valued at $6,369,303.65. This 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 hyperlink.

Ionis Pharmaceuticals Stock Performance

IONS traded down $1.17 during trading hours on Friday, reaching $36.06. 146,444 shares of the stock traded hands, compared to its average volume of 1,309,802. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $35.95 and a fifty-two week high of $54.44. 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 firm’s fifty day simple moving average is $39.87 and its two-hundred day simple moving average is $42.80.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IONS. Mirae Asset Global Investments Co. Ltd. acquired a new position in Ionis Pharmaceuticals in the first quarter worth about $613,000. SG Americas Securities LLC grew its position in shares of Ionis Pharmaceuticals by 23.7% during the first quarter. SG Americas Securities LLC now owns 7,582 shares of the company’s stock worth $329,000 after acquiring an additional 1,453 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Ionis Pharmaceuticals by 11.4% in the 1st quarter. ProShare Advisors LLC now owns 10,216 shares of the company’s stock worth $443,000 after acquiring an additional 1,049 shares during the period. Bleakley Financial Group LLC lifted its position in Ionis Pharmaceuticals by 32.6% in the 1st quarter. Bleakley Financial Group LLC now owns 16,229 shares of the company’s stock valued at $704,000 after purchasing an additional 3,990 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in Ionis Pharmaceuticals during the 1st quarter valued at about $630,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. Guggenheim decreased their price objective on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on Ionis Pharmaceuticals from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. StockNews.com downgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, The Goldman Sachs Group raised their price target on shares of Ionis Pharmaceuticals from $33.00 to $37.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.65.

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.