Insider Buying: 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 company’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost 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 in the company, valued at approximately $1,275,632.18. This represents a 16.55 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ionis Pharmaceuticals Stock Down 1.2 %

Shares of NASDAQ IONS opened at $35.91 on Friday. The firm has a 50 day moving average price of $37.13 and a 200 day moving average price of $42.14. The company has a debt-to-equity ratio of 1.86, a quick ratio of 8.82 and a current ratio of 8.91. The stock has a market cap of $5.67 billion, a P/E ratio of -14.72 and a beta of 0.35. Ionis Pharmaceuticals, Inc. has a 52-week low of $33.33 and a 52-week high of $54.44.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IONS. StockNews.com lowered Ionis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Ionis Pharmaceuticals in a research note on Thursday, September 26th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Ionis Pharmaceuticals in a research report on Friday, December 20th. William Blair reissued an “outperform” rating on shares of Ionis Pharmaceuticals in a report on Friday, December 20th. Finally, Piper Sandler dropped 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. 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.65.

Institutional Trading of Ionis Pharmaceuticals

A number of large investors have recently made changes to their positions in IONS. Geode Capital Management LLC lifted its holdings in Ionis Pharmaceuticals by 7.4% during the third 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. Great Point Partners LLC acquired a new stake in shares of Ionis Pharmaceuticals during the second quarter worth about $15,728,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ionis Pharmaceuticals by 8.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,443,020 shares of the company’s stock valued at $57,807,000 after purchasing an additional 114,914 shares in the last quarter. DRW Securities LLC acquired a new position in shares of Ionis Pharmaceuticals in the 2nd quarter valued at approximately $2,429,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in Ionis Pharmaceuticals by 13.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 650,779 shares of the company’s stock worth $26,070,000 after purchasing an additional 77,909 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.