Insider Selling: Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Sells 13,242 Shares of Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett P. Monia sold 13,242 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $32.45, for a total value of $429,702.90. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ionis Pharmaceuticals Stock Down 1.5 %

NASDAQ IONS opened at $31.64 on Wednesday. Ionis Pharmaceuticals, Inc. has a one year low of $31.03 and a one year high of $52.34. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91. The business has a fifty day moving average price of $35.00 and a 200 day moving average price of $39.88. The company has a market cap of $5.00 billion, a P/E ratio of -12.97 and a beta of 0.35.

Analyst Upgrades and Downgrades

IONS has been the topic of several analyst reports. Guggenheim dropped their target price on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. William Blair reaffirmed an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. StockNews.com lowered shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Piper Sandler lowered their price target on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.65.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of IONS. Amalgamated Bank raised its holdings in Ionis Pharmaceuticals by 3.4% in the 4th quarter. Amalgamated Bank now owns 10,292 shares of the company’s stock valued at $360,000 after acquiring an additional 335 shares during the last quarter. C WorldWide Group Holding A S grew its position in shares of Ionis Pharmaceuticals by 33.3% in the fourth quarter. C WorldWide Group Holding A S now owns 400,000 shares of the company’s stock valued at $13,984,000 after purchasing an additional 100,000 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Ionis Pharmaceuticals by 1.9% in the fourth quarter. Handelsbanken Fonder AB now owns 43,811 shares of the company’s stock valued at $1,532,000 after purchasing an additional 800 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Ionis Pharmaceuticals during the fourth quarter worth approximately $107,000. Finally, AlphaCentric Advisors LLC acquired a new position in Ionis Pharmaceuticals during the fourth quarter worth $266,000. 93.86% of the stock is 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.