Insider Buying: Ionis Pharmaceuticals, Inc. Director Acquires Shares

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Director Michael R. Hayden has recently made a notable investment in the company's stock. On Monday, December 23rd, he purchased 5,000 shares at an average price of $36.22 each, resulting in a total investment of $181,100. Following this transaction, Hayden's total ownership in Ionis Pharmaceuticals rose to 35,219 shares, which is valued at approximately $1,275,632. This acquisition marks a significant 16.55% increase in his stake in the company. The details of the transaction were officially reported in a document submitted to the Securities and Exchange Commission (SEC).

Ionis Pharmaceuticals Stock Performance

On Thursday, Ionis Pharmaceuticals' stock experienced a slight decline, trading down by 0.5% to reach $36.33. During the trading session, the company recorded a volume of 1,005,815 shares, which is lower than its average volume of 1,352,247 shares. Over the past year, the stock has seen a fifty-two week low of $33.33 and a high of $54.44. The company's financial ratios indicate a debt-to-equity ratio of 1.86, a current ratio of 8.91, and a quick ratio of 8.82. With a market capitalization of $5.74 billion and a P/E ratio of -14.89, Ionis Pharmaceuticals maintains a beta of 0.35. The stock's fifty-day moving average stands at $37.21, while the two-hundred-day moving average is $42.16.

Analysts' Outlook

Market analysts have expressed varied opinions on Ionis Pharmaceuticals stock. On December 20th, William Blair reiterated an "outperform" rating for the stock. Guggenheim reduced its price target from $70.00 to $65.00, maintaining a "buy" rating as of October 9th. Similarly, Royal Bank of Canada reaffirmed an "outperform" rating with a $70.00 target price on September 26th. Nonetheless, StockNews.com downgraded Ionis Pharmaceuticals from a "hold" to a "sell" rating on November 12th. Wells Fargo & Company also adjusted its price target, reducing it from $82.00 to $77.00, while keeping an "overweight" rating for the stock. Currently, two analysts classify the stock as a sell, five as hold, twelve as buy, and one as strong buy. Data from MarketBeat shows an overall average rating of "Moderate Buy" with a target price of $60.65.

Interest from Hedge Funds

Recent activity among hedge funds indicates growing interest in Ionis Pharmaceuticals. nVerses Capital LLC entered into a new position during the second quarter, valued at $29,000. GAMMA Investing LLC increased its holdings by 83.9% in the third quarter and now owns 664 shares worth $27,000 after purchasing an additional 303 shares. Itau Unibanco Holding S.A. also acquired a new stake valued at about $37,000 in the second quarter. Other firms, such as Capital Performance Advisors LLP and Prospera Private Wealth LLC, made similar investments in the third quarter, contributing to an overall institutional ownership surpassing 93.86% of the company's stock.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc. is dedicated to discovering and developing RNA-targeted therapeutics in the United States. The company is known for its products, including SPINRAZA, which treats spinal muscular atrophy (SMA), TEGSEDI, an injection for polyneuropathy caused by hereditary transthyretin amyloidosis, and WAYLIVRA, which is used for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.

Insider, Buying, Pharmaceuticals