Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Director Michael R. Hayden Purchases 5,000 Shares

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Director Michael R. Hayden purchased 5,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost of $36.22 per share, for a total transaction of $181,100.00. Following the purchase, the director now directly owns 35,219 shares in the company, valued at approximately $1,275,632.18. This trade represents a 16.55 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Ionis Pharmaceuticals Trading Down 1.2 %

Shares of Ionis Pharmaceuticals stock opened at $35.91 on Friday. Ionis Pharmaceuticals, Inc. has a 1 year low of $33.33 and a 1 year high of $54.44. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of -14.72 and a beta of 0.35. The business has a fifty day simple moving average of $37.13 and a two-hundred day simple moving average of $42.14. The company has a debt-to-equity ratio of 1.86, a current ratio of 8.91 and a quick ratio of 8.82.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on IONS shares. Piper Sandler dropped their target price on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 price objective on shares of Ionis Pharmaceuticals in a research report on Thursday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. StockNews.com cut shares of Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their price objective on Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.65.

Institutional Trading of Ionis Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Great Point Partners LLC bought a new position in Ionis Pharmaceuticals in the 2nd quarter valued at about $15,728,000. International Assets Investment Management LLC increased its stake in shares of Ionis Pharmaceuticals by 3,287.0% during the third quarter. International Assets Investment Management LLC now owns 328,772 shares of the company’s stock worth $13,171,000 after purchasing an additional 319,065 shares during the period. Logos Global Management LP acquired a new stake in Ionis Pharmaceuticals during the 2nd quarter worth approximately $14,298,000. Baker BROS. Advisors LP acquired a new position in Ionis Pharmaceuticals in the 3rd quarter valued at $8,952,000. Finally, Geode Capital Management LLC grew its holdings in Ionis Pharmaceuticals by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,668,358 shares of the company’s stock valued at $106,922,000 after buying an additional 183,814 shares in the last quarter. Institutional investors own 93.86% of the company’s stock.

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.