Ionis Pharmaceuticals (NASDAQ:IONS) Hits New 1-Year Low on Insider Selling

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS)’s share price reached a new 52-week low during mid-day trading on Friday following insider selling activity. The stock traded as low as $35.37 and last traded at $35.51, with a volume of 248925 shares changing hands. The stock had previously closed at $37.23.

Specifically, CEO Brett P. Monia sold 6,630 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.05, for a total value of $252,271.50. Following the transaction, the chief executive officer now directly owns 167,393 shares in the company, valued at approximately $6,369,303.65. This represents a 3.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eric Swayze sold 1,194 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total transaction of $45,276.48. Following the sale, the executive vice president now directly owns 33,713 shares in the company, valued at $1,278,396.96. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

IONS has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Ionis Pharmaceuticals from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Barclays lifted their price objective on Ionis Pharmaceuticals from $45.00 to $51.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. StockNews.com downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday. TD Cowen lifted their price target on Ionis Pharmaceuticals from $54.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of Ionis Pharmaceuticals from $33.00 to $37.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. Two equities research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.65.

Ionis Pharmaceuticals Stock Performance

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 stock has a fifty day simple moving average of $39.62 and a two-hundred day simple moving average of $42.75. The stock has a market cap of $5.42 billion, a PE ratio of -14.07 and a beta of 0.39.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings 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. nVerses Capital LLC acquired a new position in shares of Ionis Pharmaceuticals in the second quarter worth about $29,000. Itau Unibanco Holding S.A. purchased a new position in Ionis Pharmaceuticals in the second quarter valued at about $37,000. Mather Group LLC. boosted its holdings in Ionis Pharmaceuticals by 35.8% in the second quarter. Mather Group LLC. now owns 911 shares of the company’s stock valued at $39,000 after purchasing an additional 240 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Ionis Pharmaceuticals during the 3rd quarter worth approximately $40,000. 93.86% of the stock is currently owned by hedge funds and other 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.