Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CFO Elizabeth L. Hougen Sells 1,523 Shares

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) CFO Elizabeth L. Hougen sold 1,523 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $32.44, for a total transaction of $49,406.12. Following the sale, the chief financial officer now owns 110,500 shares in the company, valued at approximately $3,584,620. This trade represents a 1.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Ionis Pharmaceuticals Trading Down 3.8 %

IONS stock traded down $1.23 during trading on Friday, reaching $31.40. The company had a trading volume of 1,155,625 shares, compared to its average volume of 1,612,974. The business has a 50 day moving average of $34.88 and a 200 day moving average of $39.79. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82. The company has a market cap of $4.96 billion, a P/E ratio of -12.87 and a beta of 0.35. Ionis Pharmaceuticals, Inc. has a 52 week low of $31.03 and a 52 week high of $52.34.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IONS shares. Royal Bank of Canada reissued an "outperform" rating and set a $70.00 price objective on shares of Ionis Pharmaceuticals in a report on Wednesday, January 15th. Wells Fargo & Company decreased their price target on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Piper Sandler reduced their price objective 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. Finally, William Blair reissued an "outperform" rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.65.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in IONS. Geode Capital Management LLC grew its holdings in Ionis Pharmaceuticals by 7.4% in the third quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company's stock worth $106,922,000 after purchasing an additional 183,814 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Ionis Pharmaceuticals by 967.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 141,917 shares of the company's stock worth $4,961,000 after acquiring an additional 128,619 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Ionis Pharmaceuticals by 222.5% in the fourth quarter. SG Americas Securities LLC now owns 23,927 shares of the company's stock worth $836,000 after acquiring an additional 16,508 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Ionis Pharmaceuticals by 8.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company's stock valued at $57,807,000 after acquiring an additional 114,914 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Ionis Pharmaceuticals by 13.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 650,779 shares of the company's stock worth $26,070,000 after purchasing an additional 77,909 shares during the last quarter. Hedge funds and other institutional investors own 93.86% of the company's stock.

About Ionis Pharmaceuticals

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.