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

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett P. Monia sold 6,630 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,369,303.65. The trade was a 3.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ionis Pharmaceuticals Trading Down 1.5 %

Shares of Ionis Pharmaceuticals stock traded down $0.55 on Thursday, hitting $37.23. 1,921,175 shares of the company traded hands, compared to its average volume of 1,315,067. The stock’s 50 day moving average price is $40.09 and its 200-day moving average price is $42.84. The company has a current ratio of 8.91, a quick ratio of 8.82 and a debt-to-equity ratio of 1.86. Ionis Pharmaceuticals, Inc. has a 52 week low of $35.95 and a 52 week high of $54.44. The company has a market cap of $5.88 billion, a PE ratio of -15.32 and a beta of 0.39.

Analysts Set New Price Targets

IONS has been the subject of a number of research analyst reports. TD Cowen raised their price objective on Ionis Pharmaceuticals from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. Leerink Partnrs raised shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 24th. Bank of America increased their price target on shares of Ionis Pharmaceuticals from $67.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Guggenheim lowered their price target on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.65.

Institutional Trading of Ionis Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in Ionis Pharmaceuticals by 83.9% during the third quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock valued at $27,000 after buying an additional 303 shares during the period. nVerses Capital LLC purchased a new position in Ionis Pharmaceuticals during the second quarter valued at approximately $29,000. Itau Unibanco Holding S.A. purchased a new position in Ionis Pharmaceuticals during the second quarter valued at approximately $37,000. Mather Group LLC. increased its holdings in Ionis Pharmaceuticals by 35.8% during the second quarter. Mather Group LLC. now owns 911 shares of the company’s stock valued at $39,000 after buying an additional 240 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in Ionis Pharmaceuticals during the third quarter valued at approximately $40,000. Institutional investors own 93.86% of the company’s stock.

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.