Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett P. Monia Sells 6,630 Shares

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett P. Monia sold 6,630 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 167,393 shares in the company, valued at approximately $6,369,303.65. This trade represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Ionis Pharmaceuticals Price Performance

Shares of Ionis Pharmaceuticals stock traded down $1.17 during trading on Friday, hitting $36.06. 146,444 shares of the company’s stock traded hands, compared to its average volume of 1,309,802. Ionis Pharmaceuticals, Inc. has a 1 year low of $35.95 and a 1 year high of $54.44. The business has a 50-day simple moving average of $39.87 and a 200-day simple moving average of $42.80. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IONS. JPMorgan Chase & Co. upped their target price on Ionis Pharmaceuticals from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a research report on Thursday, November 7th. Leerink Partners upgraded Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $53.00 to $62.00 in a research note on Wednesday, July 24th. StockNews.com lowered shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Wells Fargo & Company cut 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.65.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Baker BROS. Advisors LP purchased a new position in Ionis Pharmaceuticals during the third quarter valued at $8,952,000. Erste Asset Management GmbH bought a new position in shares of Ionis Pharmaceuticals during the 3rd quarter valued at approximately $2,096,000. HBK Investments L P purchased a new stake in shares of Ionis Pharmaceuticals in the third quarter valued at $2,404,000. Castle Hook Partners LP bought a new stake in Ionis Pharmaceuticals in the third quarter worth about $959,000. Finally, FORA Capital LLC purchased a new stake in Ionis Pharmaceuticals in the third quarter worth $204,000. 93.86% of the stock is owned by hedge funds and other institutional investors.

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.