Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) CFO Elizabeth L. Hougen sold 8,870 shares of the company's stock in a transaction 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 owns 107,885 shares of the company's stock, valued at approximately $3,539,706.85. The trade was a 7.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Ionis Pharmaceuticals Price Performance
Shares of Ionis Pharmaceuticals stock traded down $0.85 during trading on Friday, reaching $31.43. The company's stock had a trading volume of 1,371,506 shares, compared to its average volume of 1,525,691. The business has a 50 day moving average price of $35.63 and a 200-day moving average price of $41.17. Ionis Pharmaceuticals, Inc. has a 12-month low of $31.40 and a 12-month high of $52.49. The company has a market capitalization of $4.96 billion, a P/E ratio of -12.88 and a beta of 0.35. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86.
Analyst Upgrades and Downgrades
IONS has been the subject of several research analyst reports. Guggenheim decreased their price objective on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. Piper Sandler dropped their price target on Ionis Pharmaceuticals from $65.00 to $62.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. Wells Fargo & Company cut their price target on Ionis Pharmaceuticals from $82.00 to $77.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. Needham & Company LLC reissued a "buy" rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Finally, StockNews.com cut shares of Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Tuesday, November 12th. 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. According to MarketBeat.com, Ionis Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $60.65.
Read Our Latest Stock Report on IONS
Institutional Investors Weigh In On Ionis Pharmaceuticals
Several institutional investors have recently made changes to their positions in IONS. Great Point Partners LLC purchased a new position in shares of Ionis Pharmaceuticals in the 2nd quarter valued at about $15,728,000. International Assets Investment Management LLC increased its holdings in Ionis Pharmaceuticals by 3,287.0% in the third quarter. International Assets Investment Management LLC now owns 328,772 shares of the company's stock valued at $13,171,000 after buying an additional 319,065 shares in the last quarter. Logos Global Management LP acquired a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter valued at approximately $14,298,000. Baker BROS. Advisors LP acquired a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter valued at approximately $8,952,000. Finally, Geode Capital Management LLC boosted its stake in shares of Ionis Pharmaceuticals by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company's stock worth $106,922,000 after acquiring an additional 183,814 shares in the last quarter. 93.86% of the stock is currently owned by hedge funds and other institutional investors.
About Ionis Pharmaceuticals
(
Get Free Report)
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.
Further Reading
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