Insider Selling: Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Sells $234,937.36 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Eric Swayze sold 7,154 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $32.84, for a total value of $234,937.36. Following the sale, the executive vice president now owns 45,670 shares of the company’s stock, valued at approximately $1,499,802.80. This represents a 13.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Eric Swayze also recently made the following trade(s):

• On Tuesday, November 12th, Eric Swayze sold 1,194 shares of Ionis Pharmaceuticals stock. The shares were sold at an average price of $37.92, for a total transaction of $45,276.48.

Ionis Pharmaceuticals Stock Performance

NASDAQ:IONS opened at $31.43 on Monday. The business’s fifty day moving average is $35.63 and its 200 day moving average is $41.11. The firm 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 quick ratio of 8.82 and a current ratio of 8.91. Ionis Pharmaceuticals, Inc. has a 52-week low of $31.40 and a 52-week high of $52.49.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IONS. Piper Sandler cut their target price on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Wells Fargo & Company reduced their price objective on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 target price on shares of Ionis Pharmaceuticals in a research note on Wednesday, January 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. Finally, StockNews.com cut Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Two investment 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.65.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in Ionis Pharmaceuticals by 38.8% during the second quarter. Renaissance Technologies LLC now owns 249,514 shares of the company’s stock valued at $11,892,000 after acquiring an additional 69,800 shares in the last quarter. E Fund Management Co. Ltd. grew its position in shares of Ionis Pharmaceuticals by 4.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 10,255 shares of the company’s stock valued at $489,000 after purchasing an additional 430 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Ionis Pharmaceuticals by 4.9% in the second quarter. Amalgamated Bank now owns 9,657 shares of the company’s stock worth $460,000 after purchasing an additional 454 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in shares of Ionis Pharmaceuticals by 3.5% in the second 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 in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Ionis Pharmaceuticals during the second quarter valued at $252,000. 93.86% of the stock is currently owned by 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.