Ionis Pharmaceuticals (NASDAQ:IONS) CEO Brett Monia Sells 29,430 Shares

by · The Markets Daily

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Get Free Report) CEO Brett Monia sold 29,430 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $85.79, for a total value of $2,524,799.70. Following the completion of the sale, the chief executive officer owned 254,497 shares of the company’s stock, valued at approximately $21,833,297.63. This trade represents a 10.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ionis Pharmaceuticals Price Performance

Ionis Pharmaceuticals stock traded down $0.50 during midday trading on Tuesday, hitting $84.29. The company’s stock had a trading volume of 1,382,673 shares, compared to its average volume of 2,252,163. Ionis Pharmaceuticals, Inc. has a 12 month low of $23.95 and a 12 month high of $86.74. The company has a quick ratio of 2.78, a current ratio of 2.79 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $13.65 billion, a PE ratio of -49.88 and a beta of 0.29. The stock’s 50-day moving average price is $80.67 and its 200-day moving average price is $68.64.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of large investors have recently made changes to their positions in IONS. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Ionis Pharmaceuticals during the third quarter worth approximately $25,000. Golden State Wealth Management LLC boosted its stake in shares of Ionis Pharmaceuticals by 198.4% during the 3rd quarter. Golden State Wealth Management LLC now owns 376 shares of the company’s stock valued at $25,000 after buying an additional 250 shares during the period. Mather Group LLC. acquired a new stake in shares of Ionis Pharmaceuticals during the 3rd quarter valued at $27,000. Allworth Financial LP grew its holdings in shares of Ionis Pharmaceuticals by 231.8% during the 2nd quarter. Allworth Financial LP now owns 740 shares of the company’s stock valued at $29,000 after acquiring an additional 517 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Ionis Pharmaceuticals in the third quarter worth $38,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Morgan Stanley upped their price target on Ionis Pharmaceuticals from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Royal Bank Of Canada boosted their target price on Ionis Pharmaceuticals from $82.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Barclays started coverage on Ionis Pharmaceuticals in a report on Wednesday, January 28th. They set an “overweight” rating and a $95.00 target price for the company. Leerink Partners lifted their price target on Ionis Pharmaceuticals from $85.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. Finally, Bank of America boosted their price objective on Ionis Pharmaceuticals from $86.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.95.

Check Out Our Latest Report on Ionis Pharmaceuticals

About Ionis Pharmaceuticals

(Get Free Report)

Ionis Pharmaceuticals, Inc is a biotechnology company focused on the discovery and development of RNA-targeted therapies designed to modulate gene expression. The company’s proprietary antisense oligonucleotide (ASO) technology enables the selective binding of short synthetic strands of nucleic acids to messenger RNA (mRNA), thereby inhibiting or altering the production of disease-causing proteins. Ionis’ pipeline spans a range of therapeutic areas, including neurological disorders, cardiovascular conditions, metabolic diseases and rare genetic disorders.

Since its founding in 1989 by Dr.

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