Ionis Pharmaceuticals (NASDAQ:IONS) Director Michael Hayden Acquires 5,000 Shares of Company Stock

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Director Michael Hayden purchased 5,000 shares of Ionis Pharmaceuticals stock in a transaction dated Tuesday, November 10th. The shares were purchased at an average price of $29.64 per share, with a total value of $148,200.00. Following the completion of the transaction, the director directly owned 27,000 shares in the company, valued at approximately $800,280. This represents a 22.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link.

Ionis Pharmaceuticals Price Performance

Shares of Ionis Pharmaceuticals stock traded up $1.75 during trading on Friday, hitting $29.06. The stock had a trading volume of 5,939,970 shares, compared to its average volume of 2,831,384. The company has a current ratio of 5.43, a quick ratio of 7.73 and a debt-to-equity ratio of 3.42. Ionis Pharmaceuticals, Inc. has a 12 month low of $27.25 and a 12 month high of $86.74. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of -8.75 and a beta of 0.43. The business’s 50-day moving average is $44.23 and its 200 day moving average is $64.84.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its quarterly earnings data on Monday, November 9th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.23) by $0.57. Ionis Pharmaceuticals had a negative return on equity of 120.62% and a negative net margin of 56.98%. The company had revenue of $242.72 million during the quarter, compared to analyst estimates of $178.17 million. During the same quarter last year, the company earned ($0.80) earnings per share. The firm’s quarterly revenue was up 54.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Ionis Pharmaceuticals, Inc. will post -3.62 earnings per share for the current year.

Analysts Set New Price Targets

IONS has been the topic of a number of recent analyst reports. TD Cowen lowered their target price on shares of Ionis Pharmaceuticals from $84.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday. Wells Fargo & Company cut their price target on shares of Ionis Pharmaceuticals from $95.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday. Morgan Stanley decreased their price target on shares of Ionis Pharmaceuticals from $104.00 to $75.00 and set an “overweight” rating on the stock in a report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Ionis Pharmaceuticals from $58.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Bank of America reaffirmed a “buy” rating and set a $63.00 price objective on shares of Ionis Pharmaceuticals in a report on Tuesday. Nineteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.71.

Key Ionis Pharmaceuticals News

Here’s some of the latest news about IONS:

• Positive Sentiment: Ionis reported two-year DAWNZERA data at the ACAAI meeting, saying the results support durable efficacy and disease control for hereditary angioedema. Article: Ionis presents long-term DAWNZERA data
• Positive Sentiment: Wells Fargo gave Ionis a Buy rating, and Morgan Stanley reiterated its Buy rating, signaling that some analysts see potential despite recent setbacks. Article: Wells Fargo rating Article: Morgan Stanley rating
• Negative Sentiment: Several firms, including Morgan Stanley, Needham, HC Wainwright, Oppenheimer, and Goldman Sachs, lowered price targets or expectations. Reports also noted an analyst downgrade, adding to pressure on sentiment. Article: HC Wainwright target cut Article: Needham target cut

Hedge Funds Weigh In On Ionis Pharmaceuticals

A number of large investors have recently modified their holdings of IONS. State Board of Administration of Florida Retirement System boosted its position in Ionis Pharmaceuticals by 0.4% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 132,399 shares of the company’s stock valued at $5,912,000 after buying an additional 581 shares during the period. AlphaGrep UK Ltd grew its holdings in Ionis Pharmaceuticals by 251.6% in the 3rd quarter. AlphaGrep UK Ltd now owns 10,358 shares of the company’s stock worth $462,000 after acquiring an additional 7,412 shares during the last quarter. Meeder Advisory Services Inc. increased its position in shares of Ionis Pharmaceuticals by 6.6% in the third quarter. Meeder Advisory Services Inc. now owns 8,164 shares of the company’s stock valued at $365,000 after acquiring an additional 504 shares during the period. Edmond DE Rothschild Holding S.A. increased its position in shares of Ionis Pharmaceuticals by 29.1% in the third quarter. Edmond DE Rothschild Holding S.A. now owns 146,320 shares of the company’s stock valued at $6,533,000 after acquiring an additional 33,000 shares during the period. Finally, GW&K Investment Management LLC raised its stake in shares of Ionis Pharmaceuticals by 79.6% during the third quarter. GW&K Investment Management LLC now owns 1,341,315 shares of the company’s stock valued at $59,890,000 after acquiring an additional 594,349 shares during the last quarter. 93.86% of the stock is owned by hedge funds and other institutional investors.

Ionis Pharmaceuticals Company Profile

Ionis Pharmaceuticals is a biotechnology company that discovers and develops RNA-targeted medicines, with a focus on antisense oligonucleotides. Its medicines are designed to act on RNA and change the production of proteins linked to disease. The company’s research and development programs span neurological, cardiovascular, metabolic and rare diseases. Ionis has developed medicines that it commercializes itself and products advanced or marketed with pharmaceutical partners. Its medicines and partnered products include treatments for conditions such as spinal muscular atrophy and transthyretin amyloidosis.