Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CFO Sells $291,024.70 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CFO Elizabeth L. Hougen sold 8,870 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $32.81, for a total transaction of $291,024.70. Following the completion of the transaction, the chief financial officer now directly owns 107,885 shares in the company, valued at approximately $3,539,706.85. This represents a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Ionis Pharmaceuticals Stock Down 2.6 %

Shares of NASDAQ:IONS opened at $31.43 on Monday. The company has a market capitalization of $4.96 billion, a PE 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. The company’s fifty day moving average is $35.63 and its 200-day moving average is $41.11. Ionis Pharmaceuticals, Inc. has a 52 week low of $31.40 and a 52 week high of $52.49.

Institutional Trading of Ionis Pharmaceuticals

Several large investors have recently added to or reduced their stakes in IONS. Great Point Partners LLC bought a new position in shares of Ionis Pharmaceuticals in the second quarter valued at approximately $15,728,000. International Assets Investment Management LLC raised its position in Ionis Pharmaceuticals by 3,287.0% in the 3rd quarter. International Assets Investment Management LLC now owns 328,772 shares of the company’s stock valued at $13,171,000 after purchasing an additional 319,065 shares during the last quarter. Logos Global Management LP acquired a new position in Ionis Pharmaceuticals in the second quarter worth $14,298,000. Baker BROS. Advisors LP bought a new stake in shares of Ionis Pharmaceuticals during the third quarter worth $8,952,000. Finally, Geode Capital Management LLC increased its stake in shares of Ionis Pharmaceuticals by 7.4% in the third quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock valued at $106,922,000 after buying an additional 183,814 shares in the last quarter. 93.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Guggenheim dropped their target price on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Piper Sandler cut their price objective on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. StockNews.com lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Wells Fargo & Company reduced their price objective on Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ionis Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $60.65.

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.