Insider Selling: Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Sells 6,630 Shares of Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett P. Monia sold 6,630 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $38.05, for a total value 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 approximately $6,369,303.65. This represents a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ionis Pharmaceuticals Stock Down 1.5 %

IONS stock traded down $0.55 during midday trading on Thursday, hitting $37.23. The company’s stock had a trading volume of 1,921,175 shares, compared to its average volume of 1,315,067. The company has a market cap of $5.88 billion, a PE ratio of -15.32 and a beta of 0.39. Ionis Pharmaceuticals, Inc. has a 12 month low of $35.95 and a 12 month high of $54.44. 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 $40.09 and its 200-day moving average is $42.84.

Hedge Funds Weigh In On Ionis Pharmaceuticals

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

Wall Street Analysts Forecast Growth

IONS has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their target price on Ionis Pharmaceuticals from $33.00 to $37.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Piper Sandler reduced 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. TD Cowen lifted their target price on Ionis Pharmaceuticals from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Guggenheim reduced their price target on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Two 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 stock. According to data from MarketBeat.com, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price 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.