Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Patrick R. O’neil Sells 6,165 Shares

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Patrick R. O’neil sold 6,165 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $31.62, for a total transaction of $194,937.30. Following the completion of the transaction, the executive vice president now directly owns 57,452 shares of the company’s stock, valued at $1,816,632.24. This represents a 9.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Ionis Pharmaceuticals Stock Down 1.6 %

Ionis Pharmaceuticals stock opened at $32.63 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82. Ionis Pharmaceuticals, Inc. has a 1-year low of $31.03 and a 1-year high of $52.34. The company’s 50-day moving average is $34.88 and its 200 day moving average is $39.79.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price target on shares of Ionis Pharmaceuticals in a research note on Wednesday, January 15th. Piper Sandler decreased their price target on shares of 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 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. Finally, StockNews.com cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $60.65.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in IONS. GAMMA Investing LLC grew its stake in Ionis Pharmaceuticals by 83.9% in the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company’s stock worth $27,000 after acquiring an additional 303 shares in the last quarter. Lindbrook Capital LLC grew its stake in Ionis Pharmaceuticals by 183.8% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $36,000 after acquiring an additional 671 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Ionis Pharmaceuticals in the 3rd quarter worth about $40,000. Prospera Private Wealth LLC bought a new position in Ionis Pharmaceuticals in the 3rd quarter worth about $42,000. Finally, Itau Unibanco Holding S.A. grew its stake in Ionis Pharmaceuticals by 40.9% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,081 shares of the company’s stock worth $43,000 after acquiring an additional 314 shares in the last quarter. 93.86% of the stock is currently owned by institutional investors.

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.