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

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Patrick R. O’neil sold 6,165 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 owns 57,452 shares of the company’s stock, valued at $1,816,632.24. This trade represents a 9.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ionis Pharmaceuticals Trading Down 3.8 %

Ionis Pharmaceuticals stock opened at $31.40 on Friday. The company has a 50 day moving average price of $34.88 and a 200 day moving average price of $39.79. Ionis Pharmaceuticals, Inc. has a 52 week low of $31.03 and a 52 week high of $52.34. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of -12.87 and a beta of 0.35.

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nicollet Investment Management Inc. boosted its stake in Ionis Pharmaceuticals by 1.5% in the 3rd quarter. Nicollet Investment Management Inc. now owns 20,402 shares of the company’s stock worth $817,000 after purchasing an additional 294 shares during the period. Amalgamated Bank lifted its position in Ionis Pharmaceuticals by 3.1% in the 3rd quarter. Amalgamated Bank now owns 9,957 shares of the company’s stock worth $399,000 after buying an additional 300 shares in the last quarter. GAMMA Investing LLC lifted its position 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 buying an additional 303 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position 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 buying an additional 314 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its position in Ionis Pharmaceuticals by 2.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 16,678 shares of the company’s stock worth $668,000 after buying an additional 338 shares in the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

Analyst Ratings Changes

IONS has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Piper Sandler decreased their price objective on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. William Blair reiterated an “outperform” rating 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 objective on shares of Ionis Pharmaceuticals in a report on Wednesday, January 15th. Finally, Wells Fargo & Company decreased their price objective on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.