Brett P. Monia Sells 38,843 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett P. Monia sold 38,843 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $31.65, for a total transaction of $1,229,380.95. Following the transaction, the chief executive officer now owns 180,683 shares of the company’s stock, valued at approximately $5,718,616.95. This represents a 17.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ionis Pharmaceuticals Stock Performance

Shares of Ionis Pharmaceuticals stock opened at $31.40 on Friday. The company has a market cap of $4.96 billion, a P/E ratio of -12.87 and a beta of 0.35. 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 business has a 50-day moving average price of $34.88 and a two-hundred day moving average price of $39.79. Ionis Pharmaceuticals, Inc. has a 1-year low of $31.03 and a 1-year high of $52.34.

Wall Street Analyst Weigh In

IONS has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set 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 issued a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Wells Fargo & Company cut their price target on Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Piper Sandler lowered their price objective 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. Finally, StockNews.com lowered shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ionis Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $60.65.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new position in shares of Ionis Pharmaceuticals during the 2nd quarter worth approximately $784,000. SG Americas Securities LLC bought a new position in Ionis Pharmaceuticals during the third quarter worth $297,000. Handelsbanken Fonder AB grew its holdings in Ionis Pharmaceuticals by 26.8% in the third quarter. Handelsbanken Fonder AB now owns 43,011 shares of the company’s stock worth $1,723,000 after purchasing an additional 9,100 shares during the period. GAMMA Investing LLC increased its stake in Ionis Pharmaceuticals by 83.9% in the third quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock valued at $27,000 after purchasing an additional 303 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Ionis Pharmaceuticals by 5.7% during the third quarter. Creative Planning now owns 28,382 shares of the company’s stock valued at $1,137,000 after purchasing an additional 1,522 shares during the period. 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.