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

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) CEO Brett P. Monia sold 6,630 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total value of $252,271.50. Following the completion of the sale, the chief executive officer now directly owns 167,393 shares of the company’s stock, valued at $6,369,303.65. The trade was a 3.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ionis Pharmaceuticals Trading Down 7.8 %

Shares of Ionis Pharmaceuticals stock opened at $34.34 on Friday. The firm has a 50-day simple moving average of $39.62 and a two-hundred day simple moving average of $42.76. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91. Ionis Pharmaceuticals, Inc. has a fifty-two week low of $34.24 and a fifty-two week high of $54.44. The company has a market cap of $5.42 billion, a P/E ratio of -14.07 and a beta of 0.39.

Institutional Trading of Ionis Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky raised its position in Ionis Pharmaceuticals by 70.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 24,083 shares of the company’s stock worth $1,044,000 after acquiring an additional 9,965 shares during the period. Entropy Technologies LP acquired a new position in shares of Ionis Pharmaceuticals during the 1st quarter worth about $630,000. Edgestream Partners L.P. purchased a new position in Ionis Pharmaceuticals in the 1st quarter valued at about $765,000. Blair William & Co. IL boosted its holdings in Ionis Pharmaceuticals by 67.4% in the 1st quarter. Blair William & Co. IL now owns 27,838 shares of the company’s stock worth $1,207,000 after buying an additional 11,210 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Ionis Pharmaceuticals during the 1st quarter worth approximately $613,000. 93.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on IONS. StockNews.com cut Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Wells Fargo & Company lowered their target price on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Leerink Partnrs upgraded shares of Ionis Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Ionis Pharmaceuticals from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, Barclays boosted their price objective on shares of Ionis Pharmaceuticals from $45.00 to $51.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.65.

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.