A Director at Ionis Pharmaceuticals is Exercising Options

By Carrie Williams

Yesterday it was reported that a Director at Ionis Pharmaceuticals (IONSResearch Report), Frederick Muto, exercised options to buy 15,000 IONS shares at $9.22 a share, for a total transaction value of $138.3K. The options were close to expired and Frederick Muto retained stocks.

Following this transaction Frederick Muto’s holding in the company was increased by 105.76% to a total of $1.76 million.

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The company has a one-year high of $73.09 and a one-year low of $39.32. Currently, Ionis Pharmaceuticals has an average volume of 615.34K. IONS’s market cap is $8.39 billion and the company has a P/E ratio of 53.10.

Based on 7 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $75.60, reflecting a -19.3% downside. Four different firms, including BMO Capital and Citigroup, currently also have a Buy rating on the stock.

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Ionis Pharmaceuticals, Inc. engages in the development and commercialization of human therapeutic drugs using antisense technology. It operates through the Ionis Core and Akcea Therapeutics segments. The Ionis Core segment exploits a novel drug discovery platform to generate a pipeline of drugs. The Akcea Therapeutics segment develops and commercializes drugs for cardiometabolic diseases. The company was founded by Stanley T. Crooke, David J. Ecker, Christopher K. Mirabelli and Brett P. Monia in 1989 and is headquartered in Carlsbad, CA.