Ionis Pharmaceuticals (NASDAQ:IONS) Stock: Insider Michael Hayden Acquires 5,000 Shares

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

Ionis Pharmaceuticals Stock Up 6.4%

Shares of NASDAQ IONS traded up $1.75 during mid-day trading on Friday, reaching $29.06. 5,945,342 shares of the company were exchanged, compared to its average volume of 4,386,260. The company has a quick ratio of 7.73, a current ratio of 5.43 and a debt-to-equity ratio of 3.42. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of -8.75 and a beta of 0.43. Ionis Pharmaceuticals, Inc. has a 1 year low of $27.25 and a 1 year high of $86.74. The firm has a 50-day moving average of $43.65 and a 200 day moving average of $64.57.

Ionis Pharmaceuticals (NASDAQ:IONS) last posted its earnings results 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. The company had revenue of $242.72 million for the quarter, compared to analyst estimates of $178.17 million. Ionis Pharmaceuticals had a negative return on equity of 120.62% and a negative net margin of 56.98%. The firm’s quarterly revenue was up 54.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.80) earnings per share. On average, research analysts expect that Ionis Pharmaceuticals, Inc. will post -3.59 earnings per share for the current year.

Analysts Set New Price Targets

IONS has been the topic of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Ionis Pharmaceuticals from $95.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 10th. Citigroup reiterated a “buy” rating on shares of Ionis Pharmaceuticals in a research note on Wednesday, October 21st. Barclays decreased their target price on shares of Ionis Pharmaceuticals from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th. BMO Capital Markets upgraded shares of Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their target price for the company from $54.00 to $66.00 in a research note on Thursday, October 22nd. Finally, UBS Group initiated coverage on shares of Ionis Pharmaceuticals in a report on Thursday, October 15th. They issued a “buy” rating and a $88.00 price target on the stock. Nineteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ionis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $75.71.

Top Ionis Pharmaceuticals Stories

Investors following IONS have been watching these stories:

• Positive Sentiment: Director Michael Hayden purchased 5,000 shares for $148,200, increasing his Ionis holdings by 22.7%—an insider buy that may signal confidence in the company. SEC filing
• Positive Sentiment: Two-year DAWNZERA data presented at the ACAAI meeting supported durable efficacy and disease control for hereditary angioedema, adding clinical evidence for the drug. Wells Fargo also rated Ionis a Buy. DAWNZERA long-term data Wells Fargo rating
• Negative Sentiment: Several firms—including Morgan Stanley, Needham, HC Wainwright, Oppenheimer and Goldman Sachs—cut price expectations; a separate analyst downgrade was associated with a sharp recent decline in the shares. Artisan Partners also said its small-cap growth strategy exited Ionis following sequential Phase 3 setbacks. Morgan Stanley price target Artisan Partners exit

Institutional Investors Weigh In On Ionis Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA grew its stake in shares of Ionis Pharmaceuticals by 21.7% during the third quarter. Pictet Asset Management Holding SA now owns 1,944,020 shares of the company’s stock worth $87,249,000 after acquiring an additional 347,022 shares during the last quarter. Alyeska Investment Group L.P. raised its position in shares of Ionis Pharmaceuticals by 199.7% in the 2nd quarter. Alyeska Investment Group L.P. now owns 1,417,916 shares of the company’s stock valued at $112,427,000 after purchasing an additional 944,766 shares during the last quarter. GW&K Investment Management LLC raised its position in shares of Ionis Pharmaceuticals by 79.6% in the 3rd quarter. GW&K Investment Management LLC now owns 1,341,315 shares of the company’s stock valued at $59,890,000 after purchasing an additional 594,349 shares during the last quarter. Groupama Asset Managment boosted its stake in Ionis Pharmaceuticals by 7.5% in the 1st quarter. Groupama Asset Managment now owns 824,540 shares of the company’s stock worth $61,915,000 after purchasing an additional 57,651 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in Ionis Pharmaceuticals in the 2nd quarter worth approximately $62,718,000. 93.86% of the stock is currently 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.