Elizabeth L. Hougen Sells 8,870 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CFO Elizabeth L. Hougen sold 8,870 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $32.81, for a total value of $291,024.70. Following the completion of the transaction, the chief financial officer now directly owns 107,885 shares of the company’s stock, valued at approximately $3,539,706.85. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Ionis Pharmaceuticals Trading Down 2.6 %

IONS opened at $31.43 on Friday. The firm has a 50 day simple moving average of $35.63 and a 200 day simple moving average of $41.14. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $31.40 and a fifty-two week high of $52.49. The company has a market cap of $4.96 billion, a price-to-earnings ratio of -12.88 and a beta of 0.35. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82.

Analyst Ratings Changes

IONS has been the topic of several recent analyst reports. Guggenheim reduced their target price on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Piper Sandler reduced their price target on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. StockNews.com downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Wells Fargo & Company dropped their price target on Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Ionis Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $60.65.

Institutional Trading of Ionis Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in shares of Ionis Pharmaceuticals by 38.8% in the 2nd quarter. Renaissance Technologies LLC now owns 249,514 shares of the company’s stock worth $11,892,000 after purchasing an additional 69,800 shares during the last quarter. E Fund Management Co. Ltd. lifted its stake in Ionis Pharmaceuticals by 4.4% in the second quarter. E Fund Management Co. Ltd. now owns 10,255 shares of the company’s stock valued at $489,000 after buying an additional 430 shares during the period. Amalgamated Bank boosted its holdings in Ionis Pharmaceuticals by 4.9% during the second quarter. Amalgamated Bank now owns 9,657 shares of the company’s stock worth $460,000 after buying an additional 454 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Ionis Pharmaceuticals by 3.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,624 shares of the company’s stock worth $363,000 after buying an additional 261 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter valued at about $252,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

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.