Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Director Purchases $181,100.00 in Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Director Michael R. Hayden purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average cost of $36.22 per share, with a total value of $181,100.00. Following the acquisition, the director now owns 35,219 shares of the company’s stock, valued at approximately $1,275,632.18. The trade was a 16.55 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ionis Pharmaceuticals Price Performance

Ionis Pharmaceuticals stock opened at $36.33 on Friday. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86. Ionis Pharmaceuticals, Inc. has a 52-week low of $33.33 and a 52-week high of $54.44. The firm has a market cap of $5.74 billion, a PE ratio of -14.89 and a beta of 0.35. The company’s 50 day moving average is $37.21 and its two-hundred day moving average is $42.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Great Point Partners LLC purchased a new stake in Ionis Pharmaceuticals during the 2nd quarter worth about $15,728,000. International Assets Investment Management LLC raised its holdings in shares of Ionis Pharmaceuticals by 3,287.0% in the 3rd quarter. International Assets Investment Management LLC now owns 328,772 shares of the company’s stock valued at $13,171,000 after purchasing an additional 319,065 shares in the last quarter. Logos Global Management LP purchased a new stake in shares of Ionis Pharmaceuticals during the 2nd quarter worth $14,298,000. Baker BROS. Advisors LP acquired a new position in shares of Ionis Pharmaceuticals during the third quarter worth $8,952,000. Finally, Geode Capital Management LLC increased its holdings in Ionis Pharmaceuticals by 7.4% in the third 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 during the last quarter. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IONS has been the subject of a number of recent research reports. StockNews.com downgraded Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. William Blair reaffirmed an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Guggenheim dropped their price target on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company reduced their price target on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, Piper Sandler lowered their price objective on Ionis Pharmaceuticals from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.65.

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.