Insider Buying: Ionis Pharmaceuticals (NASDAQ:IONS) Director 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 that occurred on Tuesday, November 10th. The shares were acquired at an average price of $29.64 per share, for a total transaction of $148,200.00. Following the acquisition, the director owned 27,000 shares in the company, valued at $800,280. This trade represents a 22.73% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Ionis Pharmaceuticals Trading Up 6.4%

NASDAQ IONS traded up $1.75 on Friday, hitting $29.06. The company’s stock had a trading volume of 5,939,970 shares, compared to its average volume of 2,831,384. Ionis Pharmaceuticals, Inc. has a 52-week low of $27.25 and a 52-week high of $86.74. The company has a current ratio of 5.43, a quick ratio of 7.73 and a debt-to-equity ratio of 3.42. The company’s 50-day simple moving average is $44.23 and its 200 day simple moving average is $64.84. The firm has a market cap of $4.84 billion, a P/E ratio of -8.75 and a beta of 0.43.

Ionis Pharmaceuticals (NASDAQ:IONS) last issued its quarterly earnings data on Monday, November 9th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $242.72 million for the quarter, compared to analyst estimates of $178.17 million. During the same period last year, the company earned ($0.80) EPS. The business’s quarterly revenue was up 54.8% compared to the same quarter last year. Research analysts predict that Ionis Pharmaceuticals, Inc. will post -3.62 EPS for the current fiscal year.

Key Stories Impacting Ionis Pharmaceuticals

Here are a few of the latest stories 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: Artisan Partners’ small-cap growth strategy reportedly exited Ionis after sequential Phase 3 clinical setbacks, a signal of reduced confidence from that investment manager. Article: Artisan strategy exit

Analyst Ratings Changes

Several analysts recently weighed in on IONS shares. JPMorgan Chase & Co. cut their price target on shares of Ionis Pharmaceuticals from $76.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, September 22nd. HC Wainwright decreased their price objective on shares of Ionis Pharmaceuticals from $100.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday. Royal Bank Of Canada dropped their target price on shares of Ionis Pharmaceuticals from $85.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday. Bank of America reaffirmed a “buy” rating and issued a $63.00 target price on shares of Ionis Pharmaceuticals in a research report on Tuesday. Finally, Morgan Stanley cut their target price on shares of Ionis Pharmaceuticals from $104.00 to $75.00 and set an “overweight” rating on the stock in a research note on Tuesday. Nineteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.71.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Pictet Asset Management Holding SA boosted its position 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 valued at $87,249,000 after purchasing an additional 347,022 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in Ionis Pharmaceuticals by 199.7% in the second quarter. Alyeska Investment Group L.P. now owns 1,417,916 shares of the company’s stock worth $112,427,000 after purchasing an additional 944,766 shares during the period. GW&K Investment Management LLC raised its holdings in Ionis Pharmaceuticals by 79.6% in the third quarter. GW&K Investment Management LLC now owns 1,341,315 shares of the company’s stock worth $59,890,000 after purchasing an additional 594,349 shares in the last quarter. Groupama Asset Managment raised its holdings in Ionis Pharmaceuticals by 7.5% in the first 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 bought a new position in Ionis Pharmaceuticals in the second quarter worth $62,718,000. Institutional investors own 93.86% of the company’s stock.

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.