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

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

Ionis Pharmaceuticals Trading Down 0.5 %

IONS stock opened at $36.33 on Friday. Ionis Pharmaceuticals, Inc. has a 52-week low of $33.33 and a 52-week high of $54.44. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86. The firm has a market cap of $5.74 billion, a P/E ratio of -14.89 and a beta of 0.35. The company’s 50-day simple moving average is $37.21 and its 200-day simple moving average is $42.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased 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 worth $106,922,000 after acquiring an additional 183,814 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ionis Pharmaceuticals by 8.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company’s stock worth $57,807,000 after purchasing an additional 114,914 shares in the last quarter. ARK Investment Management LLC increased its stake in shares of Ionis Pharmaceuticals by 1.7% during the third quarter. ARK Investment Management LLC now owns 1,384,269 shares of the company’s stock worth $55,454,000 after purchasing an additional 23,244 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Ionis Pharmaceuticals by 3.5% during the 3rd quarter. Two Sigma Advisers LP now owns 1,332,411 shares of the company’s stock worth $53,376,000 after purchasing an additional 45,300 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Ionis Pharmaceuticals by 6.1% in the 2nd quarter. TD Asset Management Inc now owns 952,762 shares of the company’s stock valued at $45,409,000 after buying an additional 54,400 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Wall Street Analyst Weigh In

IONS has been the topic of a number of analyst reports. William Blair reiterated an “outperform” rating on shares of Ionis Pharmaceuticals in a research note on Friday, December 20th. Guggenheim reduced their price target on Ionis Pharmaceuticals from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. 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 set a $60.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. Finally, Wells Fargo & Company lowered their price target 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 investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.