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

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Get Free Report) Director Michael R. Hayden bought 5,000 shares of the firm's stock in a transaction that occurred 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 purchase, the director now 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 SEC, which is accessible through this hyperlink.

Ionis Pharmaceuticals Price Performance

Shares of Ionis Pharmaceuticals stock traded down $0.20 on Thursday, hitting $36.33. 1,005,815 shares of the company were exchanged, compared to its average volume of 1,352,247. 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 company has a 50-day moving average price of $37.21 and a 200 day moving average price of $42.16. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of -14.89 and a beta of 0.35. Ionis Pharmaceuticals, Inc. has a 1-year low of $33.33 and a 1-year high of $54.44.

Analyst Ratings Changes

A number of brokerages have weighed in on IONS. Piper Sandler decreased their price objective on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. William Blair reaffirmed an "outperform" rating on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Royal Bank of Canada reissued an "outperform" rating and issued a $70.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, September 26th. Guggenheim reduced their target price on Ionis Pharmaceuticals from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company dropped 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 note on Thursday, November 7th. Two 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $60.65.

Hedge Funds Weigh In On Ionis Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Great Point Partners LLC purchased a new position in shares of Ionis Pharmaceuticals during the 2nd quarter worth $15,728,000. International Assets Investment Management LLC increased its position in 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 last quarter. Logos Global Management LP purchased a new position in Ionis Pharmaceuticals during the second quarter worth about $14,298,000. Baker BROS. Advisors LP acquired a new position in Ionis Pharmaceuticals in the 3rd quarter valued at about $8,952,000. Finally, Geode Capital Management LLC grew its stake in shares of 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 during the period. Institutional investors and hedge funds own 93.86% of the company's stock.

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.