Ionis Pharmaceuticals (NASDAQ:IONS) EVP Elizabeth Hougen Sells 6,988 Shares

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) EVP Elizabeth Hougen sold 6,988 shares of Ionis Pharmaceuticals stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $83.24, for a total transaction of $581,681.12. Following the sale, the executive vice president directly owned 132,881 shares in the company, valued at $11,061,014.44. This trade represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ionis Pharmaceuticals Price Performance

Shares of IONS traded up $0.40 during trading hours on Monday, reaching $83.07. The stock had a trading volume of 1,788,929 shares, compared to its average volume of 2,332,586. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.78 and a current ratio of 2.79. Ionis Pharmaceuticals, Inc. has a 12 month low of $23.95 and a 12 month high of $86.15. The stock has a market capitalization of $13.45 billion, a PE ratio of -49.15 and a beta of 0.29. The company’s 50-day moving average is $80.34 and its two-hundred day moving average is $66.84.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. raised its stake in Ionis Pharmaceuticals by 253.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,800,000 shares of the company’s stock valued at $150,138,000 after buying an additional 2,724,400 shares during the last quarter. Marshall Wace LLP lifted its stake in Ionis Pharmaceuticals by 7,219.3% during the 3rd quarter. Marshall Wace LLP now owns 958,829 shares of the company’s stock valued at $62,727,000 after acquiring an additional 945,729 shares during the period. American Century Companies Inc. raised its holdings in shares of Ionis Pharmaceuticals by 190.3% during the third quarter. American Century Companies Inc. now owns 1,372,225 shares of the company’s stock valued at $89,771,000 after purchasing an additional 899,476 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Ionis Pharmaceuticals during the third quarter valued at approximately $41,223,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Ionis Pharmaceuticals by 230.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 878,155 shares of the company’s stock valued at $57,449,000 after buying an additional 612,362 shares during the last quarter. 93.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on IONS. JPMorgan Chase & Co. upgraded shares of Ionis Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $49.00 to $80.00 in a research note on Wednesday, October 8th. TD Cowen restated a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, December 3rd. Leerink Partners increased 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. Morgan Stanley raised their price objective on shares of Ionis Pharmaceuticals from $90.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Stifel Nicolaus increased their price target on shares of Ionis Pharmaceuticals from $43.00 to $67.00 and gave the company a “hold” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.45.

Ionis Pharmaceuticals Company Profile

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.