Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Sells $1,091,310.35 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett P. Monia sold 33,445 shares of Ionis Pharmaceuticals stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $32.63, for a total transaction of $1,091,310.35. Following the completion of the sale, the chief executive officer now owns 207,396 shares in the company, valued at approximately $6,767,331.48. This represents a 13.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ionis Pharmaceuticals Price Performance

IONS stock opened at $31.43 on Friday. The stock has a market cap of $4.96 billion, a PE ratio of -12.88 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. Ionis Pharmaceuticals, Inc. has a 12 month low of $31.40 and a 12 month high of $52.49. The company has a 50-day moving average price of $35.63 and a 200 day moving average price of $41.14.

Analyst Ratings Changes

A number of brokerages have issued reports on IONS. Wells Fargo & Company reduced their price target on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. StockNews.com downgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Guggenheim reduced 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. William Blair restated an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Finally, Piper Sandler reduced their target price on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Two 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 given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.65.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its position in Ionis Pharmaceuticals by 222.5% in the 4th quarter. SG Americas Securities LLC now owns 23,927 shares of the company’s stock valued at $836,000 after buying an additional 16,508 shares during the period. Assenagon Asset Management S.A. boosted its position in Ionis Pharmaceuticals by 967.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 141,917 shares of the company’s stock valued at $4,961,000 after buying an additional 128,619 shares during the period. Everence Capital Management Inc. purchased a new stake in Ionis Pharmaceuticals in the 4th quarter valued at about $237,000. Geode Capital Management LLC boosted its position in Ionis Pharmaceuticals by 7.4% in the 3rd 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 during the period. Finally, Public Employees Retirement System of Ohio boosted its position in Ionis Pharmaceuticals by 2.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 56,825 shares of the company’s stock valued at $2,276,000 after buying an additional 1,529 shares during the period. 93.86% of the stock is owned by hedge funds and other 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.