Brett P. Monia Sells 13,242 Shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) CEO Brett P. Monia sold 13,242 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $32.45, for a total value of $429,702.90. Following the completion of the transaction, the chief executive officer now directly owns 219,526 shares of the company's stock, valued at $7,123,618.70. The trade was a 5.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Ionis Pharmaceuticals Trading Down 3.8 %

NASDAQ:IONS traded down $1.23 on Friday, hitting $31.40. 1,155,625 shares of the stock were exchanged, compared to its average volume of 1,612,974. The stock has a fifty day moving average of $34.88 and a 200-day moving average of $39.79. The stock has a market cap of $4.96 billion, a PE 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. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $52.34.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IONS shares. Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price target on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. StockNews.com downgraded shares of Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Tuesday, November 12th. Royal Bank of Canada reissued an "outperform" rating and set a $70.00 price objective on shares of Ionis Pharmaceuticals in a research note on Wednesday, January 15th. William Blair reiterated an "outperform" rating on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Finally, Piper Sandler cut their price target on Ionis Pharmaceuticals from $65.00 to $62.00 and set an "overweight" rating for the company in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.65.

Institutional Investors Weigh In On Ionis Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its position in Ionis Pharmaceuticals by 11.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,994 shares of the company's stock worth $384,000 after purchasing an additional 1,101 shares during the period. E Fund Management Co. Ltd. boosted its position in shares of Ionis Pharmaceuticals by 32.3% in the fourth quarter. E Fund Management Co. Ltd. now owns 16,868 shares of the company's stock worth $590,000 after buying an additional 4,116 shares during the period. Lindbrook Capital LLC grew its stake in shares of Ionis Pharmaceuticals by 183.8% in the fourth quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock valued at $36,000 after buying an additional 671 shares in the last quarter. Inceptionr LLC purchased a new stake in shares of Ionis Pharmaceuticals during the 4th quarter valued at about $503,000. Finally, Raymond James Financial Inc. purchased a new position in Ionis Pharmaceuticals in the 4th quarter worth approximately $3,692,000. 93.86% of the stock is currently 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.