Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett P. Monia Sells 13,242 Shares of Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett P. Monia sold 13,242 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $32.45, for a total value of $429,702.90. Following the completion of the transaction, the chief executive officer now owns 219,526 shares in the company, valued at approximately $7,123,618.70. This trade represents a 5.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ionis Pharmaceuticals Trading Up 0.7 %

NASDAQ:IONS opened at $32.13 on Tuesday. The firm has a market cap of $5.07 billion, a PE ratio of -13.17 and a beta of 0.35. The stock has a fifty day moving average price of $35.07 and a 200 day moving average price of $40.00. Ionis Pharmaceuticals, Inc. has a 12-month low of $31.03 and a 12-month high of $52.34. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IONS. William Blair reaffirmed an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Piper Sandler cut their target price on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. StockNews.com cut Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $70.00 target price on shares of Ionis Pharmaceuticals in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ionis Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $60.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IONS. International Assets Investment Management LLC boosted its holdings in Ionis Pharmaceuticals by 3,287.0% in the third quarter. International Assets Investment Management LLC now owns 328,772 shares of the company’s stock valued at $13,171,000 after purchasing an additional 319,065 shares during the period. Baker BROS. Advisors LP purchased a new position in Ionis Pharmaceuticals in the third quarter valued at $8,952,000. Geode Capital Management LLC boosted its holdings in Ionis Pharmaceuticals by 7.4% in the third quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock valued at $106,922,000 after purchasing an additional 183,814 shares during the period. Sovran Advisors LLC purchased a new position in Ionis Pharmaceuticals in the fourth quarter valued at $5,617,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Ionis Pharmaceuticals by 967.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 141,917 shares of the company’s stock valued at $4,961,000 after purchasing an additional 128,619 shares during the period. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

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.